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#1
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Computing Sales Tax and Retail Price from a number
Hello All,
The situation is this... When given a new product, the user is given the price to a customer which includes sales tax. This number is typically a simple number such as 50.00 or 20.00. The issue is that the *system* requires that retail price and sales tax are entered separately, such as Retail Price 18.56 + Sales Tax 1.44 = Total Price 20.00. While I know I learned this reverse calculation somewhere in past, I cannot remember it now, which is preventing me from creating the formula. Please help. Thanks in advance. Lani |
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#2
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Sales Tax is 7.75%
"Lani Jo" wrote: Hello All, The situation is this... When given a new product, the user is given the price to a customer which includes sales tax. This number is typically a simple number such as 50.00 or 20.00. The issue is that the *system* requires that retail price and sales tax are entered separately, such as Retail Price 18.56 + Sales Tax 1.44 = Total Price 20.00. While I know I learned this reverse calculation somewhere in past, I cannot remember it now, which is preventing me from creating the formula. Please help. Thanks in advance. Lani |
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#3
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A1: Retail Price
A2: Sales Tax % Total Price: =ROUNDUP(A1*(1+A2),2) HTH Jason Atlanta, GA -----Original Message----- Hello All, The situation is this... When given a new product, the user is given the price to a customer which includes sales tax. This number is typically a simple number such as 50.00 or 20.00. The issue is that the *system* requires that retail price and sales tax are entered separately, such as Retail Price 18.56 + Sales Tax 1.44 = Total Price 20.00. While I know I learned this reverse calculation somewhere in past, I cannot remember it now, which is preventing me from creating the formula. Please help. Thanks in advance. Lani . |
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#4
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Hello,
The number given is Total plus Sales Tax, I need to back out Sales Tax and remaining Retail Cost. Retail Price - Sales Tax - Total Price Unknown - Unknown - $20.00 With local sales tax being 7.75% I hope that explains the situation more clearly. Lani "Jason Morin" wrote: A1: Retail Price A2: Sales Tax % Total Price: =ROUNDUP(A1*(1+A2),2) HTH Jason Atlanta, GA -----Original Message----- Hello All, The situation is this... When given a new product, the user is given the price to a customer which includes sales tax. This number is typically a simple number such as 50.00 or 20.00. The issue is that the *system* requires that retail price and sales tax are entered separately, such as Retail Price 18.56 + Sales Tax 1.44 = Total Price 20.00. While I know I learned this reverse calculation somewhere in past, I cannot remember it now, which is preventing me from creating the formula. Please help. Thanks in advance. Lani . |
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#6
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Hello,
I need to work on framing my questions... my apologies for not being clear. Retail Price - Sales Tax - Total Price A1 A2 A3 Unknown - Unknown - $20.00 Sales Tax is .0775 or 7.75% Thanks, Lani "Arvi Laanemets" wrote: Hi =20(1+7.75%) =20*7.75%/(1+7.75%) Arvi Laanemets "Lani Jo" <Lani wrote in message ... Hello All, The situation is this... When given a new product, the user is given the price to a customer which includes sales tax. This number is typically a simple number such as 50.00 or 20.00. The issue is that the *system* requires that retail price and sales tax are entered separately, such as Retail Price 18.56 + Sales Tax 1.44 = Total Price 20.00. While I know I learned this reverse calculation somewhere in past, I cannot remember it now, which is preventing me from creating the formula. Please help. Thanks in advance. Lani |
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#7
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With Total Price in A1:
=ROUND(A1/(1+7.75%),2) This will give you the Retail Price. Jason -----Original Message----- Hello, The number given is Total plus Sales Tax, I need to back out Sales Tax and remaining Retail Cost. Retail Price - Sales Tax - Total Price Unknown - Unknown - $20.00 With local sales tax being 7.75% I hope that explains the situation more clearly. Lani "Jason Morin" wrote: A1: Retail Price A2: Sales Tax % Total Price: =ROUNDUP(A1*(1+A2),2) HTH Jason Atlanta, GA -----Original Message----- Hello All, The situation is this... When given a new product, the user is given the price to a customer which includes sales tax. This number is typically a simple number such as 50.00 or 20.00. The issue is that the *system* requires that retail price and sales tax are entered separately, such as Retail Price 18.56 + Sales Tax 1.44 = Total Price 20.00. While I know I learned this reverse calculation somewhere in past, I cannot remember it now, which is preventing me from creating the formula. Please help. Thanks in advance. Lani . . |
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#8
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<< Hello, I need to work on framing my questions... my apologies for not being clear. Retail Price - Sales Tax - Total Price A1 A2 A3 Unknown - Unknown - $20.00 Sales Tax is .0775 or 7.75% Thanks, Lani IF THE TOTAL PRICE IS ENTERED IN CELL A3, THEN: THE RETAIL PRICE IN CELL A1 : =ROUND((A3/1.0775),2) THE SALES TAX IN CELL A2 : ==A3-A1 Hope this is the solution that you are looking for. -- BenjieLop ------------------------------------------------------------------------ BenjieLop's Profile: http://www.excelforum.com/member.php...o&userid=11019 View this thread: http://www.excelforum.com/showthread...hreadid=346014 |
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#9
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Hi
Into A1 enter the formula =A3/(1+7.75%) Into A2 enter the formula =(A3*7.75%)/(1+7.75%) Arvi Laanemets "Lani Jo" wrote in message ... Hello, I need to work on framing my questions... my apologies for not being clear. Retail Price - Sales Tax - Total Price A1 A2 A3 Unknown - Unknown - $20.00 Sales Tax is .0775 or 7.75% Thanks, Lani "Arvi Laanemets" wrote: Hi =20(1+7.75%) =20*7.75%/(1+7.75%) Arvi Laanemets "Lani Jo" <Lani wrote in message ... Hello All, The situation is this... When given a new product, the user is given the price to a customer which includes sales tax. This number is typically a simple number such as 50.00 or 20.00. The issue is that the *system* requires that retail price and sales tax are entered separately, such as Retail Price 18.56 + Sales Tax 1.44 = Total Price 20.00. While I know I learned this reverse calculation somewhere in past, I cannot remember it now, which is preventing me from creating the formula. Please help. Thanks in advance. Lani |
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