Excel Formulas to Convert the Time into Money ~ Useful Tricks!!
Tags: excelformula, excelformulas
Published: 2021-05-07 12:31:13

---
title: Excel Formulas to Convert the Time into Money ~ Useful Tricks!!
published: true
date: 2021-05-06 14:39:51 UTC
tags: ExcelFormula,Excelformulas
canonical_url: https://geekexcel.com/excel-formulas-to-convert-the-time-into-money/
---

Assume that you have a list of time cells that indicate the worked hours and specify the rate per hour, now you have to calculate the payment based on hours and rate. How could you solve them in Excel? In this article, I will introduce the formula for you to **convert time into money in Excel**. Let’s get into this article!! Get an official version of ** MS Excel**  from the following link: [https://www.microsoft.com/en-in/microsoft-365/excel](https://www.microsoft.com/en-in/microsoft-365/excel)

[![Convert time to money](https://geekexcel.com/wp-content/uploads/2021/05/Convert-time-to-money.png)](https://geekexcel.com/excel-formulas-to-convert-the-time-into-money/convert-time-to-money/#main)<figcaption id="caption-attachment-36583">Convert time to money</figcaption>

## Generic Formula:

- You can use the below formula to convert time into money in Excel.

**=(time\*24)\*rate**

## Syntax Explanations:

- **Time** – It represents the input time from your worksheet.
- **Rate** – It specifies the rate per hour.
- **Parenthesis ()** – The main purpose of this symbol is to group the elements.
- **Multiplication (\*) **– In this symbol will multiply any two values or numbers.

## Practical Example:

Refer to the below example image.

- First, we will enter the input time in **Column B**.
- Now we are going to calculate the amount based on the criteria in **Column C**.

![Input Ranges](https://geekexcel.com/wp-content/uploads/2021/05/Input-Ranges-10.png)<figcaption id="caption-attachment-36585">Input Ranges</figcaption>

- Select any cell and type the above-given formula.

![Enter the formula](https://geekexcel.com/wp-content/uploads/2021/05/Enter-the-formula-17.png)<figcaption id="caption-attachment-36584">Enter the formula</figcaption>

- Finally, press  **ENTER**  to get the result out, if you need, drag the fill handle over range to apply the formula.

![Result](https://geekexcel.com/wp-content/uploads/2021/05/Result-17.png)<figcaption id="caption-attachment-36582">Result</figcaption>

## Wrap-Up:

From this short article, you can get to know how to **convert time into money in Excel**. I hope you like this article!! If you have any  **doubts,**  feel free to let me know. I reply to queries frequently. Thank you so much for visiting our site. Click here to know more about **[Geek Excel](https://geekexcel.com/) **and [**Excel Formulas**](https://geekexcel.com/excel-formula/) **!! **

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