Converting overtime into comp time

[Jessidale]

I need a formula that will convert overtime into comp time. Our timesheets are by the minute and are not rounded. Any help is greatly appreciated!

 

[mikerickson]

If minutes worked in a week is in A1, =MAX(0, A1-(40*60))/60 is the number of overtime hours worked and =1.5 * MAX(0, A1-(40*60))/60 is the number of comp. time hours

 

[Jessidale]

I'm sorry, I did not mean that all time is by the minute. I meant that our minutes are not rounded to the quarter hour. So if A1 = 51.26 hours worked for a week what would the comp time be?

 

[mikerickson]

if A1 has a Excel serial time of the hours worked in a week
=MAX(0, A1-TIME(40,0,0) is the overtime and =1.5*MAX*0, A1-TIME(40,0,0)) is the amount of comp time.

(At my work, comp time is additional vacation time at time and a half of overtime hours worked)