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Sheet
 | Read and follow directions in the syllabus carefully. |
 | Check out the Hints for
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 | Create formulae so Excel calculates all columns from G (Overtime
Hours) to O (Net pay)
 | When someone works a different number of hours then Overtime hours
must automatically adjust (remember cardinal rule of spreadsheets
- Never do the math yourself, that includes comparing.)
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 | If someone moves from NY or NJ, then the sheet should automatically
do the proper state tax. |
 | If they get another kid (dependant), then it more health
insurance should automatically be deducted. (hint: that's a named
table) |
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 | Remember the Total Row for Overtime hours through Net Pay
columns |
 | Be sure to follow the Cardinal Rules for Spreadsheets:
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Never
do the math yourself.
Math is add, subtract, multiply, divide, compare and functions).
ALWAYS instruct
Excel on how to perform the calculation (which cells, functions or
math operators) to use.
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Never
type a value more than once. Always put
changeable values, like interest rates, in cells where they can be seen and
changed, and then point to them in the formula.
ALWAYS point
to a cell (usually the nearest) that contains the value. This is
critical when the value you intend to use has been calculated by Excel.
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Check your work that the numbers make sense!
Estimate what they should be.
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Formatting
 | States are ONLY 2 characters NJ, NJ, FL, DC, CA |
 | $ in the first row and last row (total row) ONLY |
 | Format so the sheet is attractive. Use clipart, shading,
bold, italics, underline, varied fonts, sizes... |
 | Use Wrap to put Long Headings like "Overtime
Hours" on 2 lines using Alt plus Enter at same time |
 | Reduce column widths to Best Fit. (double click in-between the letters on A B C on top)
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 | Since this is an exchange of money, use pennies for most cells |
 | All cells in a column should have the same number of decimals. |
Formula
 | Use IF formula when a cell could have different
values/formula depending on the value of some other cell. For
payroll, if that employee were paid the same amount every week and the
total for the year was over $20,000 then Federal Tax would be due on
amount over $20,000. If the yearly total were less than $20,000
then zero tax would be due. This requires calculating the yearly income based upon if the weekly pay
using an IF . See
example. |
 | Use
VLOOKUP function when a cell's value/formula is a
variety of different value depending on that some other cell contains. For payroll, Health Insurance is done using a
lookup
function. |
 | Overtime pay is
paid at time and a half (1.5) - it is this for everyone, no IF needed
since zero times anything is zero |
 | Regular pay is based on regular hours only, 40 or fewer, not total
hours.
This does NOT need an IF because regular hours are
total hours except overtime, net them out. An IF makes the formula
unnecessarily complex. Regular hours are total minus Overtime which
works no matter if there are OT
hours or not (zero). You cannot just plug a 40 here since few
than 40 hours could have been worked and you cannot do the compare
yourself and put 40 in some cells and total hours worked in other (see
first cardinal rule of spreadsheets)
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 | Federal
tax requires annualizing the weekly pay and testing if it
exceeds $20,000. If so the formula is
 | annualize
it (again) |
 | net out $20,000 to get taxable income |
 | multiply taxable income by the tax rate to get yearly taxes |
 | and divide by the number of weeks in a year to get this weeks
taxes |
 | test that your formula is correct by having
 | someone who makes $400 a week who should pays $3.08
 | $400 times 52 is yearly income = $20,800 |
 | minus- 20,000 for $800 taxable income |
 | times 20% tax rate is $160 per year taxes |
 | divided by 52 weeks in a year is $3.07 |
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 | someone
who earns less $400 a weeks who should not pay any tax. |
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 | State taxes are done with a table lookup. The states must be in
alphabetical order in the table |
 | sum,
Σ, columns "Total Hours" all the way to "Net Pay"
as the last row |
 | do
NOT total items that are meaningless to
sum, like deductions |
Charts
 | Label bar chart with along the X axis (payroll it's employees names).
Make sure Legend has meaningful names (payroll it's Regular and
Overtime Pay.) |
 | Show the label each pie slice and
either the a value or percentage (payroll it's employees name and amount earned.) That
way you can eliminate legend and be clearer and save
room.
Explode one
slice. (Not all of them like someone dropped the
pie!) |
 | Use a stacked bar graph rather than individual bars for each
number.
Typically you would do this only when you had over a dozen bars, but
this is a pretend payroll that could have 20 or 30 employees so a
stacked bar graph would have half the number of bar (or columns) |
 | Make sure the charts fit below the numbers, but make them large enough
to read the label s. |
Printing
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This is a sheet
with many columns. If you really squeeze things, you can get it
to fit in one page but 2 readable pages in landscape mode are fine.
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Make sure you have
a
page heading on the sheet with a title, your
name and the date. Try some interesting fonts. |
 | Print properly formatted with imbedded charts. |
 | Switch to
formula view and make sure columns are wide enough to read entire
formula.
 | Add Gridlines and Row and Column labels for formula
sheet per print hints.
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 | Print non-repetitive formula (Highlight JUST
the cells to print, File menu, Print Area Set, Set Print Area) Print
again. |
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