6 Best Microsoft Excel Templates for Payroll Management

6 Best Microsoft Excel Templates for Payroll Management

Microsoft Excel is excellent in creating spreadsheets and crunching data. Its success is partly due to the numerous freely available templates on the web. From Invoices to Attendance management, there is a wide variety. In this post, we will discuss Excel templates for payroll management.

Using an Excel sheet to manage payroll is a DIY approach suitable for small teams. For larger teams, scalable software solutions or hiring an accountant may be more appropriate. Therefore, we will share some freemium Excel template options to manage payroll for your workers and employees.

1. Employee Payroll Calculator

This template from Microsoft includes three worksheets: one for employee wage and taxes, one for payroll based on employees’ clocked hours, and one to create pay stubs.

6 Best Microsoft Excel Templates for Payroll Management

The Payroll Calculator has separate columns for leaves, overtime, and sick hours. The template is free to download and use with no strings attached. A perfect way to get things done quickly.

2. Payroll Template in Excel in 7 Steps

Using a payroll template in Excel is one thing, but understanding the calculations and concepts is another. Fit Small Business offers an easy-to-use and detailed template for managing payroll. The developers even provide a guide on how to use it efficiently.

6 Best Microsoft Excel Templates for Payroll Management

The guide, in both text and video, will help you navigate essential topics such as setting up employees, entering hours worked, reviewing calculations, and more. I suggest thoroughly reviewing all the materials before utilizing the template.

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3. Payroll Calculator – Spreadsheet123

Time for freemium options. Spreadsheet 123 offers a free payroll calculator Excel template. Try the free version and read their guide before purchasing the paid version.

6 Best Microsoft Excel Templates for Payroll Management

One of the benefits is updates reflecting changes in state and federal taxes. They recently incorporated changes made in 2020. There is a demo video that will walk you through the steps. The pro version costs $39.95 and also supports OpenOffice.

Another Excel sheet to manage and track payroll and employee time. A simple sheet with columns for names, daily rate, and worker title for multiple workers.

6 Best Microsoft Excel Templates for Payroll Management

The template color-codes working days in blue and non-working days in off-red, allowing for quick assessment of worker activity levels. The free version cannot be modified and is limited to one user. For $24, the pro version offers customization and removes the user restriction.

5. Timesheets and Payroll

Different businesses have varying needs, operating in diverse niches, sizes, and sectors. Therefore, there is no universal payroll management and timesheet Excel template. Vertex has developed multiple Excel templates for calculating time/hours and payroll.

6 Best Microsoft Excel Templates for Payroll Management

Travel business folks can use a payroll template to track mileage. For employees with multiple shifts, Employee Shift Schedule or Work Rotation templates are available. There are over 18 templates available, which can be edited according to preference. Please note that these templates are for private use only and cannot be redistributed or resold.

6. The SMB Guide Templates

These guys cover all things small business, including payroll templates for Excel. They have created over ten templates for various payroll management situations, all free to download at the link below.

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6 Best Microsoft Excel Templates for Payroll Management

There are templates for employee payroll budget, registration, timesheet, statement, invoice, vacation, and more. Check them out because you’ll find something that works for your business model. They have a brief description next to each template, but nothing works better than trying it out yourself.

Template for Life

Sadly, there is no template for life, but you can manage your employees’ payroll in Excel. While most excel sheets are flexible and can handle large amounts of data, a lot depends on your goal. Excel should suffice if you want a record and perform simple calculations. But what about accounting? Small businesses don’t need a full-fledged software; an app may suffice. Click the link below to learn how to use filters to search and manipulate data for meaningful insights.

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