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TOPIC: Charging time by the hour - converting to decimals

Charging time by the hour - converting to decimals 13 years 1 month ago #275

  • steph
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Bookkeeping Tip:

If you are charging time out by a rate, remember to convert the minutes to decimals. I.e. 2 hours 30 minutes does NOT equal 2.3 Hours - it is 2.5 Hours!! To convert, just divide the minutes by 60.

The same applies for wages - convert the minutes to decimals before extending by the employees rate.

Quick Guide:
5 Minutes = 0.08 hrs
10 Minutes = 0.17
15 Minutes = 0.25
20 Minutes = 0.33
30 Minutes = 0.50
40 Minutes = 0.67
45 Minutes = 0.75
50 Minutes = 0.83
55 Minutes = 0.92
Stephanie Lee
Imprest Business Services
www.imprest.net.au
Facebook: www.facebook.com/Imprest.Bookkeep
"Professional bookkeeping and administration Services"
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