Timesheet Template With Payslip in Excel, OpenOffice Calc & Google Sheet to record in and out times and generate payslips for employees in just one click.
It consists of 4 timesheet templates: Daily Timesheet Template, Weekly Timesheet Template, Bi-Weekly Timesheet Template, and Monthly Timesheet Template.
Moreover, it consists of an automated payslip generator. Just select the name of the employee from the dropdown list and your payslip is ready to print.
Furthermore, it consists of printable timesheet formats for daily, weekly, bi-weekly, and monthly. Just download the desired format and start using it.
Table of Contents
What is a Timesheet?
A timesheet is a document that tracks the time of employees at work. It records the time from when the employee reaches the office till they leave the premises.
In simple terms, a Timesheet is a document that calculates the hours spent by an employee on the job or a particular project. Mostly, businesses that pay hourly use timesheets for payroll purposes.
Previously, when computers were not so common and very few businesses could afford them, manual timesheets were used.
As technology advanced and computers became common, now businesses use spreadsheet templates. These templates consist of predefined formulas and thus the calculations are automated. This saves many man-hours.
Nowadays, in this technocratic world, software, online time-tracking apps, and biometrics have taken over the spreadsheet templates.
Yet, as all businesses cannot afford these expensive technologies. Thus, many SMEs still use spreadsheets as they are free and easily customizable.
Types of Timesheets
Basically, there are 4 types of timesheets. Daily, Weekly, Bi-Weekly, and Monthly.
A daily timesheet records employee in and out times for a single day. At the end of the day, such daily timesheets are submitted to the payroll for punching into the system.
Usually, when there are multiple departments, it is hard to track. Thus, such daily timesheets are issued to department heads to handle a group of employees. Later on, based on company payroll policy, payments are calculated and paid.
A weekly timesheet records employee in and out times for a given week. Usually, the week starts on Monday and ends on Sunday.
Generally, Sundays are considered as overtime except when employees have other day-offs during the week. Businesses that pay hourly and pay weekly use Weekly timesheets for payroll purposes.
Bi-Weekly timesheets are similar to weekly timesheets. The only difference is that they record data for two weeks. Generally, overtime rules are applicable as per the company policy or as per the defined government norms.
Businesses that pay hourly and pay twice a month use Bi-Weekly timesheets for payroll purposes. Bi-Weekly means every 15 days.
A monthly timesheet is a document that records reporting time and leaving time of employees for a whole month. At the end of the month, the payroll officer calculates the hours and pays the employee accordingly.
Businesses that pay hourly and pay monthly use Monthly Timesheet for payroll purposes.
Download Timesheet Templates With Payslip
We have created 4 simple and easy-to-use timesheet templates with predefined formulas and functions. All these timesheet templates are free to download. Click the green button to download the desired version and desired format.
Daily Timesheet Template With Payslip
Daily Timesheet Template to record employee time daily.
Insert the date for which you are preparing the timesheet. Select the day/night shift from the dropdown. Define hourly rates for day and night shifts. Overtime will be 1.5 times the hourly rate of the respective shift.
Fill the in & out timings against each employee and it will automatically calculate the hours worked for you.
Click on the Payslip blue button and it will take you to the payslip generator. Select the “Employee ID” from the dropdown list, insert applicable allowances and deductions. Your daily payslip is ready to print.
Weekly Timesheet Template With Payslip
Weekly Timesheet Template to record employee time for a complete week including Sundays. Week starts with Monday. Enter the first date of the week. The template will automatically fetch the remaining dates as well as weekdays.
Similar to the daily timesheet, select the shift and define shift rates. Just fill in and out timings for each day against each employee. The will automatically calculate the hours worked during that week for you.
Click on the “Generate Employee Payslip” button beside the header to go to the payslip generator. Select the “Employee ID” from the dropdown list, insert applicable allowances and deductions. Your weekly payslip is ready to print.
Bi-Weekly Timesheet Template With Payslip
Bi-Weekly Timesheet Template to record employee time for two consecutive weeks. Enter the first date of the week. The template will automatically fetch the remaining dates as well as weekdays.
Similar to the weekly timesheet, select the shift and define shift rates. Just fill in and out timings for each day against each employee. The will automatically calculate the hours worked by the employee during that period.
Click on the “Generate Employee Payslip” button beside the header to go to the payslip generator. Select the “Employee ID” from the dropdown list, insert applicable allowances and deductions. Your bi-weekly payslip is ready to print.
Monthly Timesheet Template With Payslip
Monthly Timesheet Template to record employee time for a complete month. Select the month from the dropdown, insert the first date of the month. The template will automatically fetch the remaining dates as well as weekdays.
Select the shift and define shift rates. Just fill in and out timings for each day against each employee. At the end of the month, it automatically calculates the hours worked by the employee during that period.
Click on the “Generate Employee Payslip” button beside the header to go to the payslip generator. Select the “Employee ID” from the dropdown list, insert applicable allowances and deductions. Your monthly payslip is ready to print.
Components of Timesheet Template
All timesheets have 4 sections: Shift Information section, Time Recording section, Hourly Summary Section, and Payslip Generator.
Let us understand each section in detail.
Shift Information Section
The header section consists of the Company name and title of the sheet.
Shift Information Section consists of the following:
Normal Working Hours
Normal Pay Rate (Day/Night)
Insert the date and select the shift. Insert normal working hours. Usually, normal working hours are 8. Some companies exclude/include breaks in working hours.
For example, in the US working hours are including breaks. Hence, a total of 8 hours a day. Whereas if the breaks hours are excluded, then insert adding the break time. That is 9 hours.
Generally, Pay rates are different based on shift. Hence, enter the pay rate for day and night separately. If that’s not the case, insert the same pay rate in both.
The Overtime Pay rate is 1.5 times the shift pay rate. For example, if the day shift pay rate is $20 then the overtime pay rate will be $30/hr. This cell consists of predefined formula and hence it is auto-calculated. This section is similar in all the timesheets.
Time Recording section
This section consists of the following columns:
Insert the date and the template fetches weekdays automatically. Enter Employee ID and Employee Name. This information is recurring and is to be entered only once unless there is a change in the workforce.
Record in & out timings of the employee on a daily, weekly, bi-weekly, or monthly basis as per your requirement.
Pay Calculation Section
Your data input is complete here. All the remaining cells consist of predefined formulas and are auto-populated. Pay Calculation Section consists of the following columns:
Total Hours are calculated based on in and our time using for each day using the HOUR Function. This column uses the following formula:
For weekly, bi-weekly, and monthly calculations of hours, each day’s out-time is subtracted from in-time. Hence, to calculate total hours for weekly, bi-weekly, and monthly will be summed up for 7, 14, 31 days respectively.
To calculate overtime, the total hours are subtracted from normal hours. Hence, the formula used here is:
To calculate Normal pay, subtract OT hours from total hours. The formula here will be applicable based on the shift selected.
If you have selected Day shift, it will multiply the difference with the day shift pay rate otherwise it will multiply with the night shift pay rate.
Moreover, the template evaluates the Overtime pay based on shift selection. As explained above in the shift information section, the overtime rate changes based on shift.
Thus, it will multiply overtime hours with the respective overtime rates. The cell uses the following formula:
To derive Total Pay, the formula adds the normal pay and the overtime pay. Hence, the formula used here is as follows:
Once you have finished inserting data, click on the “Payslip” button at the top to go to Payslip Generator. Select the employee ID from the dropdown list and the template fetches data of the respective employee from the sheet.
Insert the applicable allowance and deductions to the employee and your payslip is ready to print.
There are minor changes in the payslip based on the duration of the timesheet. The Daily Timesheet consists of a single date, the weekly timesheet consists of to & from dates of the week, the bi-weekly consists of to & from dates of two weeks, and the monthly timesheet consists of month information.
Printable Timesheet Formats
This template consists of 3 printable timesheet formats. Daily, Weekly, and Bi-Weekly.
Daily Timesheet Format
Click on the image to enlarge and print the Printable Daily Timesheet format:
Weekly Timesheet Format
Click on the image to enlarge and print the Printable Weekly Timesheet format:
Bi-Weekly Timesheet Format
Click on the image to enlarge and print the Printable Bi-Weekly Timesheet format:
Uses of Timesheets
Normally, the main use of Timesheets is for payroll processing. In simple terms, calculating hourly pays of the employees.
Another usage of timesheet is client billing. If you are a freelancer and working on a client’s project, it helps you to know the amount involved and you can bill the client accordingly.
Moreover, the timesheet helps the management to manage the workforce. It helps the management to know which task takes how much time and what amount of workforce will be feasible for that particular project or task.
Furthermore, it also helps in time management. The management can monitor an employee’s time and restrict unnecessary time lapses.
Advantages of Timesheets
- Timesheets save unnecessary time wastage.
- It provides accuracy in billing.
- Improves productivity and accountability.
- Proper management of the workforce saves overtime proportion. Eventually, it saves a lot of extra money for the company.
- Employers do not have to spend any additional costs on technology.
- Simple to incorporate into the working process.
Limitations of Manual Timesheets
- Lack of accuracy due to chances of typographical or human error.
- Consumes additional man-hours to complete timesheets.
- Chances of manipulation are high as manual entries are done.
- Doesn’t provide a clear overview of the time-thefts. Thus, resulting in under-utilization or over-utilization of the workforce.
Clockify – Totally Free Timesheet App
Clockify is a modern employee timesheet app that works in a browser. It streamlines timesheet collection and time analysis so you no longer have to fill out, scan, and store paper timesheets.
Clockify makes it extremely easy for you to exactly know how many hours each employee has worked.
With Clockify, monthly and hourly employees can enter hours spent on specific projects/tasks throughout the week, and revise them when needed so your reporting data is consistent.
Clockify can also calculate payroll and calculate billable hours automatically, based on your employees’ hourly rates.
Features – Clockify App
- Track attendance and overtime, who worked on what and when approve timesheet and know how much everyone should be paid.
- Track time from any device, even offline, and all data is synced online.
- Receive a notification when you forget to start the timer.
- See which activities you’ve spent the most time on and trends across time.
- Prevent users from manually adding or editing time entries.
- Receive a custom report each day, week, or month via email.
- Receive an email when a member goes over their target number of hours.
- See how your team member’s day looks like in the Calendar, and find gaps or time overlaps.
- Prevent users from updating changing their past timesheets.
There are many more features than the above listed. The user just needs to sign up with their email. The best part is that you can add an unlimited number of members to it.
Source: Clockify. me
Frequently Asked Questions
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