CASH BOOK WITH CREDIT / DEBIT / VAT / BALANCE COLUMNS
LORETTA ROLSTON wrote on December 31, 1969 18:00 EST |
Hi
I am getting slightly frustrated at doing the task of adding a vat column to a cash book. I have tr=ied your idea but it does not work. Can you help please
For example:
Net Price £100.00 + VAT £17.50 = gross price of £117.50
Your assistance would be greatly appreciated
Thank you
Loretta Rolston
Enquiries@AccordionFestivals.co.uk |
wrong
Rod F wrote on December 31, 1969 18:00 EST |
| the above is incorrect 100 - 18% is 82 not 84.75 |
re wrong
openwatermark wrote on December 31, 1969 18:00 EST |
I think that this is poorly outlined; the object is to identify the net sale value from an article selling at 100 currency units ie the 100 is 118% and not 100%. Thence the 84.75 represents 100/118 of the selling price.
Mark aka Openwatermark |
Petty Cash AND VAT
xNeVaDiEx wrote on December 31, 1969 18:00 EST |
The formula, with VAT at 17.5%, is:
Price including VAT : 1.175 = price before VAT is added on
For example:
£4.70 : 1.175 = price before VAT is added on
The VAT content is therefore:
$4.70 less £4.00 = 70p
2.
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Re: wrong
R wrote on December 31, 1969 18:00 EST |
The calculation works fine. If I want to find the cost of something before VAT is added then use the above calculator. The dim wits who have posted comments have no idea what they are on about.
An item costing $100.00 (incl VAT @ 18%) costs $84.75 before VAT is added. Simple as that. |
Not so good but got this wrote on December 31, 1969 18:00 EST |
Enter sale price in cell A1: 100.00
Enter VAT / Tax in cell A2: 18.00%
Use the following function to calculate the net sale price: =A1/(100%+A2)
The result: 84.75 is wrong
Use the following function
=100*(100%+A2) |
Badly off mark
Shadow wrote on December 31, 1969 18:00 EST |
18% of 100 is not 84, its 82.
The above formulas are incorrect and will give you too high net price.
Net price is =A1*(100%-A2)
So an item costing $100.00, has a net price of $82.00
People claiming that 18% of 100 is anything but 82 are apparently living in a different universe where 1% of 100 is not 1. On planet earth in the milky way 1% of 100 was 1 last time i checked :P
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Badly off mark
wrote on December 31, 1969 18:00 EST |
18% of 100 is not 84, its 82.
The above formulas are incorrect and will give you too high net price.
Net price is =A1*(100%-A2)
So an item costing $100.00, has a net price of $82.00
People claiming that 18% of 100 is anything but 82 are apparently living in a different universe where 1% of 100 is not 1. On planet earth in the milky way 1% of 100 was 1 last time i checked :P
|
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