NET PAY USING EXCEL***
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1 NET PAY USING EXCEL***
2 Log in to your GoogleDrive account. To make a new document, click New and then select Google Sheets
3 The new spreadsheet that opens up should look like this: Title your spreadsheet :
4 TO GET CREDIT FOR THIS ASSIGNMENT, you MUST share your spreadsheet with me: Click on the Share button in the upper righthand corner.
5 When you click Share this dialogue box will open. Click Advanced in bottom right corner.
6 Enter my into the box. You should see your Google address here. Make sure Can edit is showing. If it s not, click on the drop-down menu and select it. Un-check the Notify people via box. Click OK
7 Now you re ready to set up your spreadsheet! 1 st Select all of the cells in the spreadsheet by clicking in A1 and then pushing Ctrl A. EVERYTHING SHOULD GO BLUE. Push the Wrap Text button so that the cells will expand to fit what you type.
8 Enter the following information into your spreadsheet exactly as I have it here:
9 Select and merge the cells highlighted in blue below:
10 Center the text in the merged cells, just like I show you below:
11 Repeat the merge and center steps for the cells highlighted in green below. (Don t highlight them on your spreadsheet though.)
12 YOUR SPREADSHEET SHOULD LOOK LIKE THIS NOW:
13 NEXT SHADING! To shade in a cell, click on the cell and then select a fill color from above.
14 Shade and BOLD the cells in your spreadsheet so they are just like what you see below: Yep make this one cell (your final answer cell) light green 3. (Hover your mouse over the colors and their names will appear.)
15 Next Select all of the cells highlighted in blue. You can do them all at once by holding Ctrl and then clicking once on all cells you want. If you accidentally click on one you don t, just click it again and it will deselect. Then push the Format as Currency button at the top. (Now excel will round for you! )
16 ASSIGNMENT Assignment Requirements: Use what you have learned about excel and formulas to enter the following information into your statement of earnings so that the spreadsheet calculates each answer (using the formulas you type in). This means that you should not use a calculator on your phone or anywhere else AT ALL, and that I will be able to see all the work done by the formulas in each cell. Looking back at the work you have shown on the last 2 assignments Sections wksts & Sections wksts will REALLY HELP YOU create your formulas!
17 HINTS: FIT means Federal Income Tax remember the table? It s on my website. (Be careful to look on the right page of the table! Married or single?) FICA means Federal Insurance Contributions Act it is the name of the act of Congress that began our Social Security tax! Why they don t just put Social Security on our pay stubs, I don t know! State tax Don t forget to subtract the personal deductions from the gross pay to find the week s TAXABLE WAGES before calculating the percentage!
18 ASSIGNMENT Check #1: Josie worked 47 hours this week. Her regular pay rate is $13.46 an hour, but she gets paid double time for all hours over 40. She is married and claims 3 allowances (herself, son, husband). She has $45.13 state personal exemptions. She lives in a state that taxes 1.5% of gross pay. She pays $12.50 a week for medical insurance and $2.50 for charity. She puts 5% of her gross pay into her 401(K). What will Josie s net pay be this week?
19 ASSIGNMENT Now to make life MUCH EASIER on the next few problems, you re going to learn a new trick! Instead of typing #s into your formulas, you can enter cells (like D2). Why would you want to do this? This is really nice when you are doing the same math over and over, but don t want to keep typing it in. It is also really nice if one number changes (like the Hourly Rate ) and you don t want to have to change ALL of your formulas!
20 ASSIGNMENT Go thru the statement of earnings you just finished. Double click on every cell (one at a time) that uses the Hourly Rate in it s formula. (Find all the s). Everywhere you see a $13.46, delete that number and type in the name of the cell the $13.46 is in. For this assignment it s D2. Why do this? Well, let s say Josie got a $1.00 raise test what you ve just done by changing $13.46 to $ If you ve done it correctly, all of the cells you changed to D2 in should show a new dollar amount. Cool, huh?!
21 ASSIGNMENT Are there any cells that didn t change when you did this??? How about the all the TOTAL amounts? Based on what you just did with the $13.46 s see if you can figure out how you could change the formulas in these cells so that when Josie gets her raise, these totals change with the new numbers as well. (You may need to change the Hourly Rate back to $13.46 again to see clues in the numbers ) You can do it!!!!
22 Now that you have all of your formulas set up, you will be completing 4 more pay stubs on this spreadsheet. Select and copy (CTRL C) the cells just like I have here:
23 Place the first copy of the check 3 rows below your Net Pay. To do this, click in box A14 and then push CTRL V. Fill the empty rows with gray like you see here:
24 You will do this copy and paste step again after each check is completed. Make sure to copy and paste THE NEWEST completed check each time. Change the check numbers so they go from 1 to 5 in order.
25 ASSIGNMENT Check 1 Take Josie s pay back to $13.46 so that all values in the statement of earnings match the description given for Check 1. (Leave the formulas, just change back to and if your formulas are correct, all of the answer should go back to what you originally calculated them to be.)
26 ASSIGNMENT Check #2 Josie got a $1.00 raise. She only worked 3 hours of overtime this week. Still donating to charity. **Don t forget to check your FIT with each week s different Gross Pay!
27 ASSIGNMENT Check #3 Josie got a divorce and moved to a new job in a new state. She makes $15.78 an hour at her new job. No overtime this week. It was a hard week for her. She now provides for just her son and herself. 2 allowances. Her new home state has NO STATE TAX. She signed up for the medical plan with an annual cost of $1300. Her new employer pays 75% of this. Still donating same amount to charity.
28 ASSIGNMENT Check #4 Josie worked 46 hours this week. Her new job only pays time an a half for overtime hours worked over 40. She joined a labor union this week. Membership dues are 2.75% of gross pay. Josie has also decided to pay more to charities. Instead of donating a flat $2.50 each check, she now has 6% of her gross pay deducted each week to go to feeding the homeless.
29 ASSIGNMENT Check #5 Josie gets a promotion! She now makes $21.74 an hour! Now that she s single, Josie thinks it would be a REALLY GOOD IDEA to increase how much money she is saving for retirement. She decides to put 15% of her gross pay toward her 401(K) each week from now on. 9 hours of overtime this week as she figures out all of her new job duties. Still donating to charity.
30 ASSIGNMENT Finish all 5 checks then study the formulas you used bc NEXT CLASS YOU WILL HAVE A QUIZ.
SPREADSHEET SET-UP. To switch simply click on the gear icon in the upper-left side of the page. Then click Experience the new Drive
NET PAY USING EXCEL Log in to your GoogleDrive account. If you have not switched to the New Google Drive switch over now so that what you see matches the screenshots used in these instructions. To switch
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