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Excel Formula - Aust. GST

Discussion in 'General Software' started by methodMAN, Jul 27, 2009.

  1. methodMAN

    methodMAN Member

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    hey,

    Trying to help out a mate with a simple invoice system in excel.

    He quotes in "GST Inc.", so I need a formula for excel that will break down the 'Total' and show the GST component of it.

    Having a major brain fart and can't get my head around it, I know its so simple!!

    Is it just $1000 x 0.1 = $100 ??? So $100 is the gst component?

    cheers

    mM
     
    methodMAN, Jul 27, 2009
    #1
  2. spankyofoz

    spankyofoz Member

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    divide by 1.1

    GST component = total / 1.1
     
    spankyofoz, Jul 27, 2009
    #2
  3. OP
    OP
    methodMAN

    methodMAN Member

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    ohh... so easy!!!

    thanks a million spankyofoz!!!

    cheers

    mM
     
    methodMAN, Jul 27, 2009
    #3
  4. spankyofoz

    spankyofoz Member

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    Just reread what I wrote, you divide by 1.1 to get the ex-GST price.

    So the GST component = TOTAL PRICE - (TOTAL PRICE / 1.1)
     
    spankyofoz, Jul 27, 2009
    #4

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