How to Calculate Weekly 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 the weekly 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 for that week
Step1. Log on to the Timeclock 365 dashboard and tap Settings
Step2. Select “Contracts”
Step3. Select the Employee whose overtimeyou want to calculate and enter the standard working hours.
Step4. Select “Weekly Overtime”
Step5. Enter the standard weekly working hours and specify the rates for extra hours worked. For instance, you may say for the first five extra hours, the employees is paid at 125%, the next five hours the employee is paid at 200%.
Step6. When you are done, tap on Save. To view the overtime, go to detailed reports and select the employees name, and hit “show”. The full record will appear on the screen.