Calculate Sales Amount
 

I am hoping someone can help me out with this, as I seem to be brain dead at the moment :)

I have an amount that represents the sales tax we have collected for the last quarter. I need to be able to calculate what the total sales are from this number. The tax is 6%. I know what my total sales are, but some sales are tax exempt. I know there is a really easy way to calculate backwards to find the total sales that were taxed at 6%, but it seems to escape me at the moment.

I would appreciate it if someone can help :)

Thanks

Calculate Sales Amount
 

In , lucrezia
spake thusly:

I have an amount that represents the sales tax we have collected
for the last quarter. I need to be able to calculate what the
total sales are from this number. The tax is 6%. I know what my
total sales are, but some sales are tax exempt. I know there is
a really easy way to calculate backwards to find the total sales
that were taxed at 6%, but it seems to escape me at the moment.

Perhaps you want:

tax_amount / 0.06 = pretax_basis

DR

Calculate Sales Amount
 

Total tax is 6000

=6000/.06 returns 100,000 in taxed sales.


Gord Dibben MS Excel MVP

On Thu, 5 Oct 2006 22:39:36 +0100, lucrezia
wrote:


I am hoping someone can help me out with this, as I seem to be brain
dead at the moment :)

I have an amount that represents the sales tax we have collected for
the last quarter. I need to be able to calculate what the total sales
are from this number. The tax is 6%. I know what my total sales are,
but some sales are tax exempt. I know there is a really easy way to
calculate backwards to find the total sales that were taxed at 6%, but
it seems to escape me at the moment.

I would appreciate it if someone can help :)

Thanks

Thanks both of you...I knew it was simple, but for some reason was completely blank on it!