vat excel

Registered Posts: 124 Dedicated contributor ๐ฆ
hi,

im having trouble setting up the formula in excel to calculate the vat on a gross amount, ive got a column for subtotal then vat then net but cant quite get the formula right.

if anyone could help that would be great

cheers

• Registered Posts: 1,037 Beyond epic contributor ๐งโโ๏ธ
hi,

im having trouble setting up the formula in excel to calculate the vat on a gross amount, ive got a column for subtotal then vat then net but cant quite get the formula right.

cheers

In cell A2 enter the gross amount, say "120", then in cell B2 type in "=A2/6" and then press "enter", and then in cell C2 type in "=A2-B2" and then press "enter".

Hopefully the above instructions work and make sense.

You may find it easier to press "tab" rather than "enter"; also you may find it easier using your arrow keys rather than typing in the actual cell reference.
• Registered Posts: 2,525 Beyond epic contributor ๐งโโ๏ธ
Hello Valentino

Is this something you are setting up for work or are you practicing for the spreadsheet module?

You may like to have a cell which is referenced in a formula when calculating VAT. This way allows you to change the VAT rate (if necessary) and all cells affected would be updated automatically... just a thought!

Do let us know if you need any further help.

JC
~ An investment in knowledge always pays the best interest ~
Benjamin Franklin
• Registered Posts: 124 Dedicated contributor ๐ฆ
thanks

ive used box number eg =D10/1.20

looks ok
• Registered Posts: 1,954 Beyond epic contributor ๐งโโ๏ธ
thanks

ive used box number eg =D10/1.20

looks ok

That will give you the net amount.

So either net amount x0.2 or has been mentioned, divide the gross amount by 6.