I’m putting together a timesheet in Excel and wanted to multiply my hours by an hourly rate. Ive been messing around for hours and reading up in the help but there’s nothing that suggests how this can be done. What’s the best way to do this?
It turns out to be much easier than you think. It’s a great little technique that can be used whether you’re calculating what it costs to sit in McDonalds all day, or playing with pignose amplifiers at guitar center. Here’s what you need to do:
First of all, make sure your hours are formatted in a time format. This ensures that internally Excel recognises them for what they are. If this is the case, the formula below should just work. If A1 is time worked in time format and B1 is hourly rate then use this
Just make sure you format the result as currency and you’re done!