Writing a Formula for Excel

[sr71blackbird]

<p>I need to make myself a tool&nbsp;in Excel and cant figure out how to make a formula that I can use to get back to the original number, if I have&nbsp;the number to which tax has been added.&nbsp; <br />As an example, Suffolk tax is 8.625% and Nassau is 8.5%<br />I am given an end dollar amount and it is my task to create an invoice, but some people give me the amount after tax, and I need to be able to create it from scratch, but my math skills suck!</p><p>Can someone either show me the formula so I can create this tool for myself or do me a solid and make it??</p><p><img src="http://www.ronfez.net/messageboard/tiny_mce/plugins/emotions/images/surrender.gif" border="0" />help!</p>

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[Death Metal Moe]

I got a tool for ya...

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[angrymissy]

<p>enter the # that has the tax included into one cell (lets say A1).&nbsp; In cell B1, put this&nbsp;formula </p><p>=SUM(A1*.08625) - I put one of the examples you gave of sales tax, you'd need to change the number if the sales tax changed</p><p>In cell C1, put this formula</p><p>=SUM(A1-B1)</p><p>The number in Cell C1 will now that that original number minus tax.&nbsp; Cell B1 will show you teh amount of tax charged.</p>

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[JPMNICK]

<p>missy is an excel genius!</p>


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[sr71blackbird]

<p>OMG Missy!!!&nbsp; THANK YOU!!!</p><p align="center"><img height="124" src="http://www.remax-renonv.com/agents/jraffanelli/heartbeat.gif" width="110" border="0" /></p>

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[JustJon]

<font face="Verdana" style="font-size: 9px;">quote:</font><p>enter the # that has the tax included into one cell (lets say A1). In cell B1, put this formula </p><p>=SUM(A1*.08625) - I put one of the examples you gave of sales tax, you'd need to change the number if the sales tax changed</p><br />
<br />Doesn't thisgive you the amount you'd tax on the already taxed amount?&nbsp; If so, that number is inflated.<br />


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[TooCute]

Yeah... actually to get the pretax number you just need to do =A1/1.0865 (or whatever tax is) in cell B1. You don't need you're not summing anything so you don't need SUM()...&nbsp;

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[angrymissy]

toocutes way is quicker.&nbsp; I always forget that you can divide with the 1 in front

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[TooCute]

your way was also unfortunately wrong like john pointed out... if you multiply the post tax sum by the tax rate, that's not going to give you any number that is really useful for calculating the pre-tax number......basic algebra...

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[sr71blackbird]

Wait, I tried putting&nbsp;a number, (say 1052.50) into cell A and =A1/1.08625 into cell B, but I didnt get anything, can you write out the formula?&nbsp; Im really not familair with all this, but I need to learn it!&nbsp; Thanks!!

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[INFOSTUD]

<p>Your Cells</p><p>A1 = the amount you are given</p><p>B1 = &quot;=A1/1.08625&quot;</p><p>C1 = &quot;=B1*1.08625&quot;</p><p>A1 and C1 should equal the same number</p><p>Lets say you are given 1086.25 with the tax included.</p><p>b1 does the following math: 1086.25/1.08625 =1,000. It works</p><p>c1 does th following math as a check: 1000*1.08625 = 1086.25, this amount you were given and therefore confirms that $1,000 is the pre-taxed amount.&nbsp; This cell and it's formula is NOT needed, but it's a nice double check.</p><p><strong>BE SURE to put an equal sign BEFORE the A1 and B1&nbsp;this tells Excel you are writing a formula.&nbsp; If you need it I can e-mail you the spreadsheet.</strong></p><img src="http://img.photobucket.com/albums/v448/INFOSTUD/infostud.jpg" border="0" />

<font color=black>This message was edited by INFOSTUD on 11-26-05 @ 12:21 AM</font>