Join Dennis Taylor for an in-depth discussion in this video Using times with currency calculations, part of Working with Dates and Times in Excel 2007.
If you're working with time information and you need to combine it with currency…calculations, sometimes these appear to be a little bit problematical, but…actually they are pretty easy and straightforward.…Look at the data in columns B and C. In cell D2, we want to know how much pay is…deserved here if someone has worked 5 hours at $10 an hour.…So we know the answer ahead of time. It's $50.…So we do the math of =B2*C2.…And our answer is, well, it's not $2.08. We know that.…
What needs to be done here?…A little bit of reverse engineering. Might think this out a little bit.…You know it's got to be $50.…How does that $2.08 relate to it?…And what really is the difference here?…When we are dealing with times, keep in mind the idea that in Excel a time is…a portion of a day.…And the more you think about that, the more you would say, yes, that's right, 24 hours.…We need to take this calculation and multiply it by 24. There you go.…There's our $50.…
And we'll double-click and copy this down the column.…
- Understanding how Excel records and stores dates and times
- Looking at standard date/time entry options and acceptable alternatives
- Using the TODAY and NOW functions
- Customizing date formats
- Exploring keyboard shortcuts
- Formatting time for hours over 24
- Calculating differences across dates and times
- Rounding calculations
- Working with holidays
- Validating with dates
- Converting formatted dates to usable data
Skill Level Intermediate
Excel 2007: Introduction to Formulas and Functionswith Curt Frye2h 26m Intermediate
Creating Business Budgets in Excel 2007with Curt Frye1h 3m Intermediate
1. Excel's Date/Time System
2. Creating Date/Time Entries
3. Date/Time Formatting
4. Excel's Date/Time Functions
5. Calculating with Dates and Times
6. Using Dates and Times with Excel Commands
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