+ Reply to Thread
Results 1 to 7 of 7

Pay Bonus Calculator Formulas

  1. #1
    Registered User
    Join Date
    12-24-2014
    Location
    Tillsonburg, Ontario, Canada
    MS-Off Ver
    Home and Business 2013
    Posts
    14

    Pay Bonus Calculator Formulas

    Good Morning Everyone!

    I am trying to build a new excel spreadsheet that will allow me to calculate all the bonuses of my employees based on their performances for easy help when it comes to payroll time.

    To do this I need a lot of help with formulas!! I have attached my spreadsheet for reference.

    Basically, each employee, listed on the tabs on the bottom of the spreadsheet, will be given a daily score which is recorded under the appropriate date on the calendar for that person. Then, I want the excel file to calculate their monthly average from the scores produced and relay this to a month review sheet.
    In the month review sheet, I would like to have it so I can enter the monthly sales of our company and have the sheet calculate how much money is available for bonuses based on the overall team percentage. For example, if the overall team score was 80%, then 2% of the monthly sales would be allotted to a bonus pool. If the overall team score was 90%, then 3% of monthly sales would be allotted to a bonus pool, etc...Then, from this monthly pool, I want the funds to be split amongst the six employees based on their performance. For example, if they get a 90% monthly average they would get a bigger portion of the bonus pool than a colleague who only scored a 70%. I need some ideas and suggestions for how I can use formulas for this, so that the operator of the spreadsheet only has to input the monthly sales amounts, and the daily scores of the employees.

    I would be very appreciative of any help I could get!!

    Thanks a lot,
    Yorke
    Attached Files Attached Files

  2. #2
    Forum Guru samba_ravi's Avatar
    Join Date
    07-26-2011
    Location
    Hyderabad, India
    MS-Off Ver
    Excel 2021
    Posts
    8,914

    Re: Pay Bonus Calculator Formulas

    See the attached file
    Attached Files Attached Files
    Samba

    Say thanks to those who have helped you by clicking Add Reputation star.

  3. #3
    Forum Moderator Glenn Kennedy's Avatar
    Join Date
    07-08-2012
    Location
    Digital Nomad... occasionally based in Ireland.
    MS-Off Ver
    O365 (PC) V 2403
    Posts
    44,053

    Re: Pay Bonus Calculator Formulas

    Hi. I would make a number of changes. Firstly, I would standardise the row numbers for each month on each sheet (done for all listed staff - each month occupies 12 rows and each month is separated by a space). I have not added in the remaining months, but you MUST use the same format as used for Jan-Mar

    This allows the use of a drop-down box to select the month (Cell E1 on month review). This uses the lookup (columns O&P, which can be hidden) to calculate the %s. I've changed the formula for the %s so that you see the average for the month to date, too.

    the size of that month's bonus pool (b4) is determined by the lookup (columns R-T, which can be customised and which can also be hidden).

    Finally, that pool is divided up amongst the individual, based on their contribution to the total. This can obviously be weighted further - but you need to set some rules...
    Attached Files Attached Files
    Glenn




    None of us get paid for helping you... we do this for fun. So DON'T FORGET to say "Thank You" to all who have freely given some of their time to help YOU.

    Temporary addition of accented to illustrate ongoing problem to the TT: L? fh?ile P?draig sona dhaoibh

  4. #4
    Registered User
    Join Date
    12-24-2014
    Location
    Tillsonburg, Ontario, Canada
    MS-Off Ver
    Home and Business 2013
    Posts
    14

    Re: Pay Bonus Calculator Formulas

    Thanks Siva and Glenn,

    I have looked into it a bit more, and it would be more fool-proof for the operator if they were prompted with a user form when they first open the spreadsheet prompting them to enter the monthly sales right away. It would also be nice if they could choose the current month from a drop-down list at this point too.
    I have started the user form in VBA (see attachment), but I don't know how to program it or insert a drop-down menu - maybe someone could help??

    Thanks,
    Yorke
    Attached Files Attached Files

  5. #5
    Forum Moderator Glenn Kennedy's Avatar
    Join Date
    07-08-2012
    Location
    Digital Nomad... occasionally based in Ireland.
    MS-Off Ver
    O365 (PC) V 2403
    Posts
    44,053

    Re: Pay Bonus Calculator Formulas

    "It would also be nice if they could choose the current month from a drop-down list at this point too."

    How does that differ from what's already in E1?

  6. #6
    Registered User
    Join Date
    12-24-2014
    Location
    Tillsonburg, Ontario, Canada
    MS-Off Ver
    Home and Business 2013
    Posts
    14

    Re: Pay Bonus Calculator Formulas

    Not really, but I would like to add this to the User Form as seen in VBA, and then this would update E1 accordingly.

  7. #7
    Forum Moderator Glenn Kennedy's Avatar
    Join Date
    07-08-2012
    Location
    Digital Nomad... occasionally based in Ireland.
    MS-Off Ver
    O365 (PC) V 2403
    Posts
    44,053

    Re: Pay Bonus Calculator Formulas

    OK... I'm cr@p with VBA, so I'll pass on this...

+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. [SOLVED] Formulas need to clear for calculating bonus
    By shabbirmohammad29 in forum Excel General
    Replies: 1
    Last Post: 09-23-2014, 06:24 AM
  2. Forecast Bonus Calculator - Require a formula to calculate the bonus' due
    By The_Snook in forum Excel Formulas & Functions
    Replies: 2
    Last Post: 11-05-2013, 07:32 PM
  3. Bonus Calculator Help
    By jonwool in forum Excel Formulas & Functions
    Replies: 5
    Last Post: 12-27-2012, 03:15 PM
  4. Calculating a Sales Bonus When the Bonus Rate Changes as Sales Change
    By daydreamz in forum Excel Formulas & Functions
    Replies: 1
    Last Post: 04-04-2012, 11:52 AM
  5. Bonus Calculator using IF(AND...
    By thompsy121 in forum Excel General
    Replies: 5
    Last Post: 03-15-2010, 05:44 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Search Engine Friendly URLs by vBSEO 3.6.0 RC 1