Financial Applications for Excel Spreadsheet Essay

Financial Applications for Excel Spreadsheet - Essay Example The system would require a master spreadsheet that is linked to all the individual Excel timesheets for all the staff. The first spreadsheet to be created would be the one for inputting the staff member’s punch in and punch out times. Each staff would have their own timesheet under their name. It would probably consist of a bi-weekly or weekly calendar, depending on the payroll, with each day dated and a row of cells to input times in and out, for lunch and then total. There are formulas within that will calculate the decimal time from the standard time being inputted to allow it to transfer easily into the payroll program. There would also be columns for any sick, vacation or personal time used. The staff person, ideally, would sit down at their computer and before doing anything else open up the spreadsheet input the date and then time, either manually or with the shortcut keys. Then when they go to lunch sign out and in and when they leave for the day, sign out. The total for the day will appear at the end and the total for the week at the bottom, including any personal time taken in the o ther columns. Each staff person would have their own spreadsheet to fill out and they would all be located on the same network drive. The master spreadsheet would have the employee’s names in one column and then the totals for the week, or whatever pay period payroll would use, in the subsequent columns all on one spreadsheet. The totals on this sheet would be laid out the in the same order as on the timesheets to make linking the cells easier. To link you would have the master sheet open and then an individual’s timesheet. In the master sheet you would type an = sign into the cell you want to link and then switch to the timesheet, select the cell to link to there and hit enter. You will return to the master sheet and there is now a direct link to that cell on the master sheet. You can link the other cells merely by copying that master cell and