NOVICE! Formular for 20% VAT...?

[Hellz]

Hi every one,

Ive been glued to this forum for seval hours now, reading older posts, but Im going to admit defeat before my brain explodes!!

OK so Im a novice with excel, but I dont want to be beaten!
Also before answering, can you help me by just keeping it simple, and basing it on 100-20% vat ?

eg: click 100, type *-20 etc etc I think its all the a1/d5 ()... etc thats done me

SO doing my VAT....

Ive got a formular to MINUS the vat (just descovering that subtracting 20% VAT rather than 20% is not the same thing)

THIS is my Minus formular for 100 – 20% vat = 16.67
click destination cell, type = . click 100, type *-1/6% > hit return. = 16.67

Now on the flip side, to work out 20% vat of 100, Ive currently got:

Click destination cell, type = > click 100, type *20% > hit return = 20

Im also checking this is an online VAT calculator the figures seem to be right , but is the formular correct???

Many Many Thanks for the answers in advance, I cant tell you how much help will be appriciated! x

 

[Hellz]

OK just to check to see if im right...
THIS Is my code for subtracting 20% VAT

=G18*-1/6 ??

 

[Gerald Higgins]

Hellz, formulas have been posted in post #2, 3, and 6.

I suggest you slow down and read through these posts thoroughly.

Here's the formulas again.

If you have some amount, let's say in cell A1, which does NOT include VAT, and you want to work out what the VAT is, it's
=A1*.2

If you have some amount in A1, which does NOT include VAT, and you want to work out what the TOTAL is, INCLUDING VAT, it's
=A1*1.2

If you have some amount in A1, which DOES include VAT, and you want to work out what the VAT only part is, it's
=A1/6

If you have some amount in A1, which DOES include VAT, and you want to work out what the NET part is, without VAT, it's
=A1*5/6

But there are lots of other ways of expressing these formulas.

 

[Hellz]

hi Gerald

Thanks so much for your post, I realise that the others had tried to help but its got to be put in to a way that makes sense in my mind if that makes sense, your working is perfect however

Im going to print your reply out so its always handy LOL

only 2 small problems though...

on the 2nd formular, I get an error message that says "Error in formular, to accept the proposed formular click accept) which changes it to: =1.2 and based on my figure of 100 gives me 1.20

And the 3rd one (which was what I was trying to say in my earlier post)
is that the result keeps coming out at zero..., however I think I solved this one now!!

Thanks very much! x

 

[Gerald Higgins]

On the second formula, I don't get that message when I typed in exactly what I posted.