Time*Money

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bkkMarty
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Time*Money

Post by bkkMarty »

OK I'm a newbie and have been trying to set up a salary sheet. i used the formula B2<A2)+B2-A2 to get the hours worked but when i multiply this by the hourly rate I get a nonsense answer.Easy enough to do the math manually at this point but I would like to solve this problem before things get more complex. Any help would be gratefully accepted

Marty
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Villeroy
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Re: time*money

Post by Villeroy »

All spreadsheet dates are day numbers. Today is day 43565. Just remove the fomatting from today's date.
All spreadsheet times are fractions of these days. Now is 43565,58061 (0.58 days in GMT). Just remove formatting.
A "time value" is a number between 0 and 1 formatted to show the fraction of a day as clock time.
=money*time/24 may do what you want. It converts the day fraction to hours.
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bkkMarty
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Re: time*money

Post by bkkMarty »

I tried changing the format but no help. The thing is that using the formula gives me 8 hours, which is correct but when I multiply by$15.00 instead of $120 I get $5
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Villeroy
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Re: time*money

Post by Villeroy »

The format never has any influence on calculation results. I just suggested to remove formatting in order to show the "true" cell values you are calculating with.
8:00 multiplied by $120.00 calculates 0.33333 * 120 which gives 40 days*money. In order to calculate hours*money you calculate 0.33333 * 120 /24 which gives 1.66666

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Villeroy
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Re: time*money

Post by Villeroy »

Stupid me. Most likely you want 0.33333 * 120 * 24 in order to multiply the amount of hours with the amount of money. See attached file.
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HoursXMoney.ods
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MikeBellamy
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Re: Time*Money

Post by MikeBellamy »

It's clear to me now, thanks!
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