How To Calculate Daily Overtime
When your employees work for extra hours, you need to compensate for that time. for instance, if the standard hours is set to 8.50 hours, some days employees may be forced to work additional work, to complete the day’s work. Therefore, you need to calculate overtime, to ensure you are paying the correct amount.
Here are the steps on how to set the rate for remunerating the employees for extra hours worked.
Step1. Log on to the Timeclock 365 dashboard and tap Settings
Step2. Select “Contracts”
Step3. Select the Employee whose overtime
you want to calculate and enter the standard working hours.
Step4. Tap on “Add overtime”, as illustrated against the particular days you want to enter the overtime.
Step5. Enter the Extra Hours worked by the employee and specify the rate at which the employee will be paid. For instance, if the employee works an extra two hours, you may specify the rate as 125%. For the next four hours, the rate can be 150%.