Solved

Calculating VAT

Posted on 2004-03-27
5
3,481 Views
Last Modified: 2011-10-03
Hello there
i am trying to get a formula to calculate vat. what the formula should do is that whne i enter amount which includes vat and tab on to the next field the formula should automactically calculate the amount exc vat and the vat price. please help me anyone
0
Comment
Question by:ksunnyd
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
5 Comments
 
LVL 54

Accepted Solution

by:
nico5038 earned 84 total points
ID: 10694029
Just register one type of amount and use in queries and on forms the calculation like:
SELECT AmountIncludingVAT, [amount]/((100+7)/100) AS ExAmount, [ExAmount]*((100+7)/100) AS [InAmount]
FROM Table1;

In a form field use for getting the ex value:
=[amount]/((100+7)/100)

Best probably to store the VAT percentage in a global variable or table, thus making a change easy.
Most flexible (but hardest to use) will be to have a table with the tax rate and the date when it started, thus allowing historical calculations when the VAT rate changes...

Nic;o)
0
 
LVL 8

Assisted Solution

by:James Bendall
James Bendall earned 83 total points
ID: 10694046
If the total price is held in a field called TotalAmount then the formulae would be:

For the amount excluding VAT:  =TotalAmount * (1/1.175)

For the VAT:  = TotalAmount * (.175/1.175)

This example assumes the current standard UK VAT rate of 17.5%.  Nico's point about storing the VAT rate is a good one.
0
 
LVL 12

Assisted Solution

by:monosodiumg
monosodiumg earned 83 total points
ID: 10694291
There are VAT codes witha  rate other than or 0% or 17.5%. You might want to add a combo for the VAT code and put the VAT rate into one fo the column and use that as the source of the VAT rate in the above calculations.
0

Featured Post

Use Case: Protecting a Hybrid Cloud Infrastructure

Microsoft Azure is rapidly becoming the norm in dynamic IT environments. This document describes the challenges that organizations face when protecting data in a hybrid cloud IT environment and presents a use case to demonstrate how Acronis Backup protects all data.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

This article describes a method of delivering Word templates for use in merging Access data to Word documents, that requires no computer knowledge on the part of the recipient -- the templates are saved in table fields, and are extracted and install…
The Windows Phone Theme Colours is a tight, powerful, and well balanced palette. This tiny Access application makes it a snap to select and pick a value. And it doubles as an intro to implementing WithEvents, one of Access' hidden gems.
Show developers how to use a criteria form to limit the data that appears on an Access report. It is a common requirement that users can specify the criteria for a report at runtime. The easiest way to accomplish this is using a criteria form that a…
Polish reports in Access so they look terrific. Take yourself to another level. Equations, Back Color, Alternate Back Color. Write easy VBA Code. Tighten space to use less pages. Launch report from a menu, considering criteria only when it is filled…

751 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question