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Adding 6.75%

Jack-P-Winner

Jack-P-Winner

Member
Helping a friend.
How would I write code for E5=C5x D where D=6.76%


E= Net sales
D=Tax
C=Gross sales

I apologize buy I'm in my phone so I don't have a sample spreadsheet

Thanks so much. yall!
 
Hi Larry ,

I think you need to clarify the terms ; if the Gross Sales is in C5 , and the Tax Percentage is in D5 , then the Tax Amount would be the Net Sales multiplied by the Tax Percentage.

The Gross Sales would be the addition of the Net Sales and the Tax Amount.

Gross Sales is what customers pay , and Tax Amount is what is to be paid to the Government ; the Net Sales is a virtual amount.

If the Net Sales is in E5 , then :

E5 + Tax Amount = C5

E5 + E5 * Tax Percentage = C5

E5 + E5 * D5 = C5

E5 = C5 / ( 1 + D5 )

where D5 contains a percentage figure ; you can put in 6.75% in D5.

Put the Gross Sales in C5 , and the above formula ( C5 / ( 1 + D5 ) ) in E5.

Narayan
 
I am doing this from my i pad LOL, here is the spreadsheet. Now, I can see what I am talking about and you can understand Narayan so THANK YOU!! The Gross amount is in C, the tax (6.75) is in D and the Net sales is in E. So I would want to enter the Gross sales in C and have the spreadsheet do the rest.

Also, on the bottom of the sheet I want the total sales tax to be in F39, Gross total to be F40

I hope this clears thing up a bit

Thanks!
 

Attachments

  • Tax Sheet Template.xlsx
    11.5 KB · Views: 4
Okay, Narayan. I have been playing around with these formulas and I must be missing the easy stuff LOL, I can get it to work for anyway besides what I am trying to accomplish LOL

I want to enter the Gross amount in C5 and have the tax amount displayed in D5 and the Net sales amount displayed in E5 where the tax amount is 6.75%

Make sense? What am I missing?
 
Hi Larry ,

See if this is OK. The Tax Amount has been calculated in 2 ways , both ways giving the same result.

Narayan
 

Attachments

  • Tax Sheet Template.xlsx
    12.3 KB · Views: 1
Adding x% to a value is the same as multiplying by 1+x%
eg: Adding 6.75% to A1 is the same as =A1*(1+6.75%) =A1*1.0675
 
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