I am cross checking the percentage rate used as follows:
F8: Value excluding VAT e.g. 1180
G8: VAT paid/received e.g. 180
H: VAT Percentage which I formulated as =G8/F8*(1+G8/F8)
The result is 17.58%, rather than 18%, whereas if I work the other way round [SIZE=0.75em]1000 * 1.18 = 1180, therefore I am not sure what is wrong with my proportions, can you help me with the right formula please?[/SIZE]
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F8: Value excluding VAT e.g. 1180
G8: VAT paid/received e.g. 180
H: VAT Percentage which I formulated as =G8/F8*(1+G8/F8)
The result is 17.58%, rather than 18%, whereas if I work the other way round [SIZE=0.75em]1000 * 1.18 = 1180, therefore I am not sure what is wrong with my proportions, can you help me with the right formula please?[/SIZE]
View this thread