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HELP with creating a unique formula in Excel 2003

  1. #1
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    HELP with creating a unique formula in Excel 2003

    I am a little rusty and need your help.

    I have created a spreadsheet to calculate various amount of IRA contributions for several employees.

    In Field #1, I enter the total amount contributed by the employee (manual entry).

    In Field #2 - 4, a formula calculates the amount to be deposited into each fund they chose for their retirement account. (These formulas work fine, and I even selected precise calculation to ensure they are accurate).

    PROBLEM:

    In some cases, my three dollar amounts (accurately calculated) don't equal the originally manual entered number in Field #1.

    Employee Fund Allocation EE Contrib ER Contrib

    John Doe $151.51 $90.90

    155 30% $45.45 $27.27
    183 40% $60.60 $36.36
    201 30% $45.45 $27.27


    The formula to calculate the percentage of $151.51 and $90.90 works fine and round up precisely. BUT, the total sum of all three amounts do not EQUAL the manually entered figure each time. In this case, the sum of the three amounts only equal $151.50.

    How can I get my formula to ensure that not only does it calculate the correct percentage, but ensure it also equals the amount I entered (how can I get it to add a penny to any one of the dollar amounts).

    I am stumped.
    I can't attach my full excel document because it contains sensitive employee information.

    Any help will be appreciated.

  2. #2
    Forum Expert dilipandey's Avatar
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    Re: HELP with creating a unique formula in Excel 2003

    Hi Mike,

    Welcome to the forum

    I am stumped.
    I can't attach my full excel document because it contains sensitive employee information.
    I need to look into formula and the decimal places... could you upload the workbook with sample data?

    Regards,
    DILIPandey


    <click on below 'star' if this helps>
    DILIPandey, Excel rMVP
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  3. #3
    Forum Expert Cutter's Avatar
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    Re: HELP with creating a unique formula in Excel 2003

    Perform the percentage calculation on 1 less than the total number of accounts. So if there are 3 accounts then do the % on 2, if there are 4 do the % on 3. For the last account subtract the sum of the % results from the original amount so that the final account gets what is left over from the % calculations.

  4. #4
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    Re: HELP with creating a unique formula in Excel 2003

    Cutter,

    You are brilliant...I despise math and could not even think of this simple solution. I tried it and it works perfectly.

    Thank you both for responding so quickly, I was going to create a drafted sample to help out, but Cutter's solution works great. Thanks again!

  5. #5
    Forum Expert Cutter's Avatar
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    Re: HELP with creating a unique formula in Excel 2003

    You're welcome. Don't forget to mark your thread as SOLVED (instructions found in rule #9 - click Forum Rules @ top of page to view).

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