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#1
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Circular Reference Problem Calculating Net Pay
Hi I am constructing a spreadsheet to calculate pays. Problem is I want
to round the pays to the nearest $5 and put the balance from the net pay as extra tax. I am using the tax figure to calculate the net pay... which results in a circular reference error. Going to Tools, Options and turning Iteration is not an option and does not suit my purpose. I am trying to find a formula workaround. Gross $1,155.75 Tax $276.00 Union $6.92 Add. Super $10.00 Allowances $60.00 Net $922.83 I would like to round the net pay to $920 in this instance and add the remainder (2.83) as extra tax. Problem is the tax amount is used to get the net amount. Any solutions would be greatly appreciated. |
#2
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Circular Reference Problem Calculating Net Pay
What formula are you currently using?
"Gerard" wrote: Hi I am constructing a spreadsheet to calculate pays. Problem is I want to round the pays to the nearest $5 and put the balance from the net pay as extra tax. I am using the tax figure to calculate the net pay... which results in a circular reference error. Going to Tools, Options and turning Iteration is not an option and does not suit my purpose. I am trying to find a formula workaround. Gross $1,155.75 Tax $276.00 Union $6.92 Add. Super $10.00 Allowances $60.00 Net $922.83 I would like to round the net pay to $920 in this instance and add the remainder (2.83) as extra tax. Problem is the tax amount is used to get the net amount. Any solutions would be greatly appreciated. |
#3
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Circular Reference Problem Calculating Net Pay
Dave F wrote: What formula are you currently using? =FLOOR(x,5) Rounds the net pay to the nearest (lowest) $5 multiple. But then how can I re add this to the tax amount and calculate a new net figure? |
#4
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Circular Reference Problem Calculating Net Pay
Assuming your data above is in cells A1 to B6, you can add these labels
in A8 to A10: A8: Adjusted Net A9: Difference A10: Adjusted Tax and add these formulae in B8 to B10: B8: =FLOOR(B6,5) B9: =B6-B8 B10: =B2+B9 Hope this helps. Pete Gerard wrote: Dave F wrote: What formula are you currently using? =FLOOR(x,5) Rounds the net pay to the nearest (lowest) $5 multiple. But then how can I re add this to the tax amount and calculate a new net figure? |
#5
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Circular Reference Problem Calculating Net Pay
You are spot on, Thanks for your time Pete Pete_UK wrote: Assuming your data above is in cells A1 to B6, you can add these labels in A8 to A10: A8: Adjusted Net A9: Difference A10: Adjusted Tax and add these formulae in B8 to B10: B8: =FLOOR(B6,5) B9: =B6-B8 B10: =B2+B9 Hope this helps. Pete Gerard wrote: Dave F wrote: What formula are you currently using? =FLOOR(x,5) Rounds the net pay to the nearest (lowest) $5 multiple. But then how can I re add this to the tax amount and calculate a new net figure? |
#6
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Circular Reference Problem Calculating Net Pay
You're welcome.
Pete Gerard wrote: You are spot on, Thanks for your time Pete Pete_UK wrote: Assuming your data above is in cells A1 to B6, you can add these labels in A8 to A10: A8: Adjusted Net A9: Difference A10: Adjusted Tax and add these formulae in B8 to B10: B8: =FLOOR(B6,5) B9: =B6-B8 B10: =B2+B9 Hope this helps. Pete Gerard wrote: Dave F wrote: What formula are you currently using? =FLOOR(x,5) Rounds the net pay to the nearest (lowest) $5 multiple. But then how can I re add this to the tax amount and calculate a new net figure? |
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