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Summing VAT does not add up : Solved

 
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bigmonmulgrew
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Joined: 25 Oct 2010
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PostPosted: Mon Oct 25, 2010 8:03 am    Post subject: Summing VAT does not add up : Solved Reply with quote

Hi guys

I have a spreadsheet to keep track of customer accounts.
Each row represents one invoice. with
Invoice number, Date, Grace Period, Due Date, VAT Rate , Pre VAT, With VAT, Status
Bold items are calculated automatically
Status can be - paid, Invoiced, refunded, or overdue.

Now at the top of the workbook is the following
Account Total - a sum of all money gone through the account in its lifetime
Paid - a sum of ammounts which have been paid.
Outstanding. - Account Total - Paid

Now the problem I am having is that the paid amount does not add up.
For example with one particular customer it should say £6999.85
But instead it says £6999.87
Now I think its due to how VAT is calculated.
For example £1.11 is £1.30 with VAT but 1.11*1.175 is 1.30425
It shows correctly in the VAT column but I'm sure the £0.00425 is throwing out the sum.

Any ideas


Last edited by bigmonmulgrew on Tue Oct 26, 2010 12:50 am; edited 1 time in total
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floris_v
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Joined: 12 Jul 2007
Posts: 4791
Location: Netherlands

PostPosted: Mon Oct 25, 2010 10:16 am    Post subject: Reply with quote

Instead of amount*1.175 try round(amount*117.5)/100.

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bigmonmulgrew
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Joined: 25 Oct 2010
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PostPosted: Tue Oct 26, 2010 12:51 am    Post subject: Reply with quote

Excellent I knew there must be something like that available
Cheers buddy

SOLVED!!
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