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Your payroll process can be carried out using several options. There's manual payroll, payroll using MS Excel, and specialized payroll software. The process of Use this employee payroll template to record your employee payroll and calculate hourly Employee timecard (daily, weekly, monthly, and yearly). Excel. Welcome to Excel Based Payroll Application. Our Program Mission. -- Free: No monthly fee, no payroll fee. -- Easy: No installation; it runs on Excel.(Pay/Hour * Total Hours Worked) + (Overtime/Hour * Total Overtime Hours). The payroll sheet can be formulated under cell F4 as =(B2*C2)+(D2*E2). It's a simple 1. Review Payroll Excel Template & Edit for Your Business · 2. Set Up Payroll Information for Each Employee · 3. Set Up Employer Payroll Tax