Excel % Question

Hi,

In my Excel expenses sheet I have a sum which works out the VAT on expenses - at the moment it reads: =SUM(E13/1.175) which is 17.5%.

Yeah - you know what I'm about to ask! How do I change it to 20%?

Should it read: =SUM(E13/1.200)?

[Jon T]

Yep, that'll do it, you don't need the trailing 0's though, 1.2 or 1.200 same thing.

[punky]

Yup.

That's what I thought - something odd happening here

Excel works it out as:

Total: £100
VAT: £16.67
Net: 83.33

Surley that should be:

Total: £100
VAT: £20
Net: £80

[punky]

Do

=E13*0.2

Instead.

Originally Posted by punky

Do

=SUM(E13*0.200)

Instead.

Top man - cheers!

[chris9991]

Doesn't it depend which figure you're starting off with? If you have the pre-VAT price then VAT is 0.2 (same as 20%) of the price, but if it is a post-VAT price then the VAT is the price divided by 6?
Or have I got that wrong?

Originally Posted by LSainsbury

That's what I thought - something odd happening here

Excel works it out as:

Total: £100
VAT: £16.67
Net: 83.33

Surley that should be:

Total: £100
VAT: £20
Net: £80

Those top figures are correct

[punky]

Originally Posted by LSainsbury

Top man - cheers!

Actually, you were right the first time. £100 = £83.33 net and £16.67 VAT.

it's definitely

=E13/1.2

If you add 20% of 83.33 to 83.33 it equals 99.996 (i.e. £100)

Sorry, long day!

[cookie_365]

Ah, hard coded VAT rates

Guaranteed to keep the admin people in the Finance department cheery