How to Create an Overtime Sheet
According to Workplace Fairness, employees who are earning $100,000 annually or earning $455 per week are exempted from overtime pay. For your employees who are earning less than what was mentioned, you might need to create an overtime sheet for transparency. Worry not, because we have compiled helpful tips for you to help you create your daily, weekly, or monthly overtime sheet.
1. Choose Your Preferred Program
The ideal program to make overtime sheets is a spreadsheet-based program, and examples of these are Microsoft Excel and Google Sheets. The simple sheets in these programs will provide you a proper division of your quantitative and qualitative data.
2. Familiarize Yourself with the Formulas
The sample sheets previously mentioned have formulas to make your computation easier. If you don't have any idea how formulas work, it's just one search away. Familiarize yourself with formulas so you wouldn't have to enter quantitative data manually.
3. Include Your Company Details
The overtime sheet is your company's property, so it's only wise to provide its information. Provide your company's logo, name, address, and contact information. Display these at the top part of the document.
4. Indicate the Employee's Information
The employee's information pertains to their name and the department where they belong. These are key information to determine who rendered the extra hours of work when it's time for payroll.
5. Indicate the Work Schedule and the Number of Hours Worked
The employee's standard work schedule must be indicated in the basic sheet, as well as the dates of when the overtime work was rendered and the number of hours. These are necessary to make the payroll officer's job easier and more convenient.
Can I make an overtime sheet in Microsoft Excel?
Yes, spreadsheet-based programs are ideal when entering quantitative data such as payroll. Aside from Excel, Google Sheets is an alternative. Make sure to familiarize yourself with the different formulas to help you out.
What is an overtime sheet?
An overtime sheet consists of the employees' extra work hours rendered. According to federal law, employees who worked more than 40 hours a week are eligible for overtime pay. Some companies merge their overtime sheet with their timesheet to make the payroll officer's job quick and easy.
Are electronic overtime sheets better than printed overtime sheets?
Electronic timesheets mostly have their advantages compared to printed timesheets. Aside from the program's formulas, you can change the information easily. Unlike printed timesheets, you have to manually enter the information and make necessary corrections manually. You don't need to worry about unsaved work because programs nowadays already have the "autosave" feature in them.
How important are timesheets and overtime sheets?
Both timesheets and overtime sheets help measure the employee's work hours. Both of these serve as the basis of the employee's pay. The former counts the standard work hours, including tardiness, excess break hours, and absences, while the latter is used for the extra hours rendered by the employee. These sheets are both handled by the payroll officer.