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

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

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
>.
>

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
> >.
> >
>

Hi

=20(1+7.75%)
=20*7.75%/(1+7.75%)


Arvi Laanemets


"Lani Jo" <Lani [email protected]> wrote in message
news:[email protected]...
> 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

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 [email protected]> wrote in message
> news:[email protected]...
> > 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
>
>
>

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
>> >.
>> >
>>
>.
>

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" <[email protected]> wrote in message
news:[email protected]...
> 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 [email protected]> wrote in message
> > news:[email protected]...
> > > 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
> >
> >
> >