Time * Rate = Amount Billed Formula?
 

I need to multiply the time recorded (in hours:minutes) by the charging rate
(in currency) to get the total amount billed as follows:

Time Billed Charge Out Rate Amount Billed

01:00 £285
02:30 £285

Please can someone tell me what formula to use, how to do this?

Thanks. Andy

Time * Rate = Amount Billed Formula?
 

If your charge-out rate is £ per hour, you will need to multiply by 24
to get the correct amount, as time is stored internally as a fraction
of a 24-hour day. So, your formula in C2 would be:

=A2 * B2 * 24

formatted as currency, assuming these are the only columns in your
worksheet.

Hope this helps.

Pete

Andrew Eagles wrote:
I need to multiply the time recorded (in hours:minutes) by the charging rate
(in currency) to get the total amount billed as follows:

Time Billed Charge Out Rate Amount Billed

01:00 £285
02:30 £285

Please can someone tell me what formula to use, how to do this?

Thanks. Andy

Time * Rate = Amount Billed Formula?
 

Thanks Pete, that worked a treat. You're a star!

Best, Andy

"Pete_UK" wrote:

If your charge-out rate is £ per hour, you will need to multiply by 24
to get the correct amount, as time is stored internally as a fraction
of a 24-hour day. So, your formula in C2 would be:

=A2 * B2 * 24

formatted as currency, assuming these are the only columns in your
worksheet.

Hope this helps.

Pete

Andrew Eagles wrote:
I need to multiply the time recorded (in hours:minutes) by the charging rate
(in currency) to get the total amount billed as follows:

Time Billed Charge Out Rate Amount Billed

01:00 £285
02:30 £285

Please can someone tell me what formula to use, how to do this?

Thanks. Andy

Time * Rate = Amount Billed Formula?
 

Andy,

Convert the time to decimal format and then multiply by the rate.


=(A1*24)*B1 = Amount Billed

HTH

Steve


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Time * Rate = Amount Billed Formula?
 

Thanks for the feedback, Andy.

Pete

Andrew Eagles wrote:
Thanks Pete, that worked a treat. You're a star!

Best, Andy

"Pete_UK" wrote:

If your charge-out rate is £ per hour, you will need to multiply by 24
to get the correct amount, as time is stored internally as a fraction
of a 24-hour day. So, your formula in C2 would be:

=A2 * B2 * 24

formatted as currency, assuming these are the only columns in your
worksheet.

Hope this helps.

Pete

Andrew Eagles wrote:
I need to multiply the time recorded (in hours:minutes) by the charging rate
(in currency) to get the total amount billed as follows:

Time Billed Charge Out Rate Amount Billed

01:00 £285
02:30 £285

Please can someone tell me what formula to use, how to do this?

Thanks. Andy

Time * Rate = Amount Billed Formula?
 

Thanks SteveG

"SteveG" wrote:


Andy,

Convert the time to decimal format and then multiply by the rate.


=(A1*24)*B1 = Amount Billed

HTH

Steve


--
SteveG
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SteveG's Profile: http://www.excelforum.com/member.php...fo&userid=7571
View this thread: http://www.excelforum.com/showthread...hreadid=560714