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vat excel

valentino46valentino46 Well-KnownRegistered Posts: 124
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

Comments

  • readerreader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    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.
  • Jo ClarkJo Clark Font Of All Knowledge Registered Posts: 2,525
    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
  • valentino46valentino46 Well-Known Registered Posts: 124
    thanks

    ive used box number eg =D10/1.20

    looks ok
  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
    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.
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