Payroll calculations are off by a few cents when you change the time format
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Payroll calculations are off by a few cents when you change the time format from decimals to minutes and vice versa.
You have an active payroll subscription and hourly employees.
You will select the time format that best suits your needs.
When you pay an employee based on uneven time increments, such as 19 hours and 47 minutes (19.47) instead of 40 hours (40.00), QuickBooks rounds the amount differently depending on whether you are using the decimal or minutes time format. The following rounding occurs:
- Decimal: QuickBooks automatically interprets time entries as decimal fractions. For example, when you enter 4:30, QuickBooks converts your entry to 4.5 (4 and one-half hours).
- Minutes: QuickBooks automatically interprets time entries as hours and minutes. For example, when you enter 4.5, QuickBooks converts your entry to 4:30 (4 hours and 30 minutes).
To select either the decimal or minutes time format:
Choose Edit > Preferences.
Select General from the icons on the left.
Click the Company Preferences tab.
Under Time Format, select Decimal or Minutes.