Calcuating annualised year to date income

[Guest]

Hello all

I want to create a formula to annualise a persons income based on their
gross financial year to date income.

Assuming that the financial year begins on 1/7/06. The variables would be:-

Financial year start date (1/7/06)
Date of payslip
Year to date gross income

Result to calculate what the annualised income would be come 30/6/07

Thanks

 

[Guest]

Try this.

=(C1/(DATEDIF(A1,B1,"m")+1))*12

Where A1 = start date of financial year
B1 = payslip date
C1 is earnings to date

When entering this Excel will try to change the format of your cell to date
so change it back to general.

 

[Don Guillett]

try
=C8/MONTH(NOW())*12

 

[Tom Ogilvy]

Assuming constant pay.

365/(payslip date - start of year date) * Year to date gross income

or pay per payperiod * number of pay periods

 

[Guest]

Hi Mike

Thanks for that. I notice that the date calculation calculates a extra
month. EG. 1/7/06 ~ 12/1/07 is 6 months, however if it appears that the
formula is counting it as 7 months. If I take your formula
=(C1/(DATEDIF(A1,B1,"m")+1))*12 I assume that the +1 is actually adding the
extra mont, therefore if I remove the +1 it should give me the correct amount
of months?

I have tried this and t seems to now be working correctly.

Thanks

 

[Don Guillett]

Did mine give the proper answer?