For Excel 2007 how to change percentage formula from 7.5% to 8.5% for canadian provincial taxes?

Hello,

 

Someone made this sheet for me soI can use it to enter my business taxes revenue and spendings for tax purposes.

Our Federal tax is 5% and have not changed ever since he did it. But our provincial taxes have risen from 7.5% to 8.5% in 2011, and have risen again to 9.5% in 2012. Therefore, I need to learn how to change the % of the provincial taxes for 2011 as 8.5% and for 2012 to 9.5%, And have it applied all over the sheet where it should be under TVQ? The current one shows as =SUM(C10*$M$2).

Please help me change the formula of the tax % so it can calculate my amount automatically when entered showing the amount before taxes and the amount after taxes and showing the TPS and TVQ??

As you can see below the TPS is at 5% and the TVQ is at 7.5%...which I need to change to 8.5%....The formulas shows as  =SUM(C10*$M$2) for TVQ and shows  =SUM(C10*$M$1) for TPS.  Please help me or show me the steps to change it so it applies automatically all over the sheet as per below example??

 

Thank you,

                       

Date Description Brut TPS TVQ Net
                          -   $

 

2/Oct/11 Assurance voiture            40.51 $             1.79 $             2.83 $            35.89 $
                      -   $                 -   $                 -   $
6/Oct/11 Shell Canada            60.00 $             2.66 $             4.19 $            53.16 $
14/Oct/11 Stationnement Crescent            14.00 $             0.62 $             0.98 $            12.40 $
14/Oct/11 SPAQ machine antoine            21.00 $             0.93 $             1.47 $            18.60 $
 

Question Info


Last updated June 29, 2019 Views 1,717 Applies to:
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Eve wrote:
Please help me change the formula of the tax % so it can calculate my amount automatically when entered showing the amount before taxes and the amount after taxes and showing the TPS and TVQ??

As you can see below the TPS is at 5% and the TVQ is at 7.5%...which I need to change to 8.5%....The formulas shows as  =SUM(C10*$M$2) for TVQ and shows  =SUM(C10*$M$1) for TPS.  Please help me or show me the steps to change it so it applies automatically all over the sheet as per below example??


The solution seems so "obvious":  simply enter the desired percentage, literally 8.5%, into M2 or M1, whichever is appropriate.

If that does not work for you, it might help us help you if you upload an example Excel file to a file-sharing website, then post the URL (aka link; http://...) of the "shared" file here.  The following is a list of some free file-sharing websites; or use your own.

Box.Net: http://www.box.net/files
Windows Live Skydrive: http://skydrive.live.com
MediaFire: http://www.mediafire.com
FileFactory: http://www.filefactory.com
FileSavr: http://www.filesavr.com
FileDropper: http://www.filedropper.com
RapidShare: http://www.rapidshare.com

Aside....  Unrelated to your problem, take note of the following.

1. The use of SUM is unnecessary.  =SUM(C10*$M$2) should be simply =C10*$M$2.  The use of SUM does not hurt.  But if you make the change in #2 below, you might as well eliminate it at the same time.

2. It would be prudent to round the tax amount to the cent.  For example, =ROUND(C10*$M$2, 2).

    Note:  The explicit use of ROUND is not necessary if you have the "Precision as displayed" calculation option set, and the cell format is something other than General.  However, I usually do not recommend the use of "Precision as displayed".  It is error-prone.

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