Payroll Tracker and Calculator - Budget vs. Actual: Excel Template

Anyone that has to enter payroll into their accounting software and/or calculate it each month will benefit from this Excel template. It is completely editable and easy to use for anyone. The goal is to provide a really organized way for any Accounting department to clean up how they calculate payroll and track it vs. budget.

Pricing

After purchase, the template will be sent to the PayPal / Purchaser e-mail. This is included in the HR Tools in Excel and Google Sheets template bundles.

There are clear instructions in the first tab as well as in the video. Be sure to watch that and read first. 

The template is designed to be able to work across many pay periods. There is a 'template' tab that the user can pre-fill with static data (employee names / budget). Then, to add new pay periods, simply make a copy of the 'template' tab, rename it to the relevant period and then enter the payroll data into that new tab. There is no limit to the amount of tabs but I would suggest doing one year's worth of information per workbook.

Each tab is designed to be self-sufficient and doesn't have formulas or references to anything outside of  the given tab. This improves user function and makes it hard to mess anything up.

Some nice features about this template include:

  • Up to 30 slots for hourly-based employee wages
  • Up to 30 slots for salary-based employee wages (included function for bonuses/commissions)
  • Report on multiple pay periods over time
  • Track budget vs. actual (per employee and in total) per period
  • Visualization to show budget vs. actual results for the period
  • Show annualized payroll based on each period as a percentage of expected annual revenue
  • Conditional formatting to show when a given employee exceeds budget
  • Conditional formatting to show if total payroll expense exceeds total budget
If you need more than 30 slots, it is not hard to add more, simply insert rows and fill in the new data. Make sure the sum totals add the new data.

Screenshots of Template:
payroll calculator

payroll budget vs. actual template