vat excel

valentino46

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

reader

valentino46 wrote: »

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 Clark

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

valentino46

thanks

ive used box number eg =D10/1.20

looks ok

PGM

valentino46 wrote: »

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.