Today you will
- format money in euro with two decimal places
- type a VAT rate so it shows 23%, not 2300%
- build a VAT calculator for five costs from your Something Real project
Warm-up
A net price is €10.00 and VAT is 23%. Is the VAT €2.30 or €23.00?
Net price is the price before VAT is added.
VAT is a tax on many things sold in Ireland. Today the rate is 23%.
Gross price is the net price plus VAT. It is what the customer pays.
Currency format shows a number as money, with the € sign and two decimal places.
Net €10.00 at 23% VAT gives €2.30 VAT and €12.30 gross.
Type the rate as 0.23, not 23. If you type 23 and make it a percentage, it shows 2300%.
You will build a practice VAT calculator called {{code:sm3_vat_calc_practice}} for a small sticker-and-print business. Follow the steps in the box below. Type the items and net prices from this table. The last three columns show what your answers should be.
| Item | Net (€) | VAT rate | VAT (€) | Gross (€) |
|---|---|---|---|---|
| Vinyl sticker pack | 12.00 | 23% | 2.76 | 14.76 |
| Shipping labels (100) | 8.50 | 23% | 1.96 | 10.46 |
| A4 card stock pack | 15.00 | 23% | 3.45 | 18.45 |
| Ink cartridge | 22.00 | 23% | 5.06 | 27.06 |
| Table display stand | 35.00 | 23% | 8.05 | 43.05 |
Common issues
- The rate shows 2300%. Clear the cell, type 0.23, then choose Percentage again.
- The money shows $ or £. Open the currency menu again and choose Euro.
- Every VAT row has the same number. Type {{formula:=B2*C2}} in {{cell:D2}} again, then drag it down.
Independent Practice
- In {{code:09_specialism/sm3}}, make a new spreadsheet called {{code:sm3_vat_calc}}. Excel Online adds .xlsx for you.
- Type the same five headings as in your practice file.
- Type at least five costs from your project and their net prices.
- Add the 0.23 rate, the VAT formula and the Gross formula.
- Format the money as euro, then change one price to test it.
If you have no cost list yet, use these for now and swap in real ones later.
Packing tape
USB stick
Pack of pens
Craft pack
- {{code:sm3_vat_calc}} is saved in {{code:sm3}} with five of my own costs.
- My rates show 23%.
- My money columns show € with two decimal places.
- Changing a net price updates VAT and Gross.
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