Calculating Tax and including it in Total

[Guest]

This is for a Course Assignment. I need to calculate x "Daily Rental Fee"
field with 7% Tax included in the Total. I'm not sure if I need to include
two calcultions in the formula; one to get the Tax amount; one to Total "Fee
+ Tax.

For this Assignment it looks like it must be one calculation. This is being
done in a Form.

Thank You

 

[Guest]

Hi Donna,

I would think that it is kind of strange to use only one calculation,
because you won't be able to display the tax charge as a separate item. In
any case, if you want to use just one calculation, you could base it upon the
following formula:

Total = Subtotal * (1 + TaxRate/100)

You can throw in a CCur (converts result to currency) function, to help with
formatting, so that the control source for the textbox would look something
like this:

= CCur([Subtotal] * (1 + [TaxRate]/100))

Take a look at the Orders form in the sample Northwind database
(Northwind.mdb).


Tom Wickerath
Microsoft Access MVP

http://www.access.qbuilt.com/html/expert_contributors.html
http://www.access.qbuilt.com/html/search.html
__________________________________________

 

[Joseph Meehan]

This is for a Course Assignment. I need to calculate x "Daily Rental
Fee" field with 7% Tax included in the Total. I'm not sure if I need
to include two calcultions in the formula; one to get the Tax amount;
one to Total "Fee + Tax.

For this Assignment it looks like it must be one calculation. This
is being done in a Form.

Thank You

Are you sure the tax rate is a straight 7%? What about rounding? The
government prescribing the tax likely has specific rules about that and if
you want to get it right, you should check on that first. In some cases
there are ranges set and they may be different for the first dollar than for
the next.

As always local differences mean that some are far easier than others.

 

[Guest]

Thank you for the help. Here is how I entered the formula and got the
results needed.
=([DRF]*(1 + 0.07))
I tryed both of your suggestions, however they would work got error on
both, so I just took the [ ] off the tax rate and it worked. I would have
used the =CCur, if this hadn't been a course assignment. Much fast way to
format.

I'm not sure what the "1 +" stands for. Is it refering back to the first
calculation? Or Something else.

Thanks Again

Hi Donna,

I would think that it is kind of strange to use only one calculation,
because you won't be able to display the tax charge as a separate item. In
any case, if you want to use just one calculation, you could base it upon the
following formula:

Total = Subtotal * (1 + TaxRate/100)

You can throw in a CCur (converts result to currency) function, to help with
formatting, so that the control source for the textbox would look something
like this:

= CCur([Subtotal] * (1 + [TaxRate]/100))

Take a look at the Orders form in the sample Northwind database
(Northwind.mdb).


Tom Wickerath
Microsoft Access MVP

http://www.access.qbuilt.com/html/expert_contributors.html
http://www.access.qbuilt.com/html/search.html
__________________________________________

This is for a Course Assignment. I need to calculate x "Daily Rental Fee"
field with 7% Tax included in the Total. I'm not sure if I need to include
two calcultions in the formula; one to get the Tax amount; one to Total "Fee
+ Tax.

For this Assignment it looks like it must be one calculation. This is being
done in a Form.

Thank You

 

[Guest]

7% was the tax amount I needed to use in this calculation, since it was a
course assignment.

However, if I ever use tax in the real world rounding is something I will
think about after reading many of the posting here.

Thank you

 

[Guest]

Hi Donna,

The brackets were used because I was making the assumption that TaxRate was
a field in the form's record source. That way, one can change the tax rate
simply by editing data, instead of having it hard-coded, which would require
a form design change to update.

I'm not sure what the "1 +" stands for. Is it refering back to the first
calculation? Or Something else.

The 1 just preserves the original subtotal. It is the result of factoring
out the common [DRF] from the equation:

Total Due = (Subtotal + Tax) = ([DRF] + ([DRF] * 0.07)) = ([DRF]*(1 +
0.07))


Tom Wickerath
Microsoft Access MVP

http://www.access.qbuilt.com/html/expert_contributors.html
http://www.access.qbuilt.com/html/search.html
__________________________________________

Thank you for the help. Here is how I entered the formula and got the
results needed.
=([DRF]*(1 + 0.07))
I tryed both of your suggestions, however they would work got error on
both, so I just took the [ ] off the tax rate and it worked. I would have
used the =CCur, if this hadn't been a course assignment. Much fast way to
format.

I'm not sure what the "1 +" stands for. Is it refering back to the first
calculation? Or Something else.

Thanks Again

 

[Guest]

Hi Tom,

Thank you again, for this explaination. I appreciate what I have learned by
reading some of the posting as well as, asking my question.

Donna

Hi Donna,

The brackets were used because I was making the assumption that TaxRate was
a field in the form's record source. That way, one can change the tax rate
simply by editing data, instead of having it hard-coded, which would require
a form design change to update.

I'm not sure what the "1 +" stands for. Is it refering back to the first
calculation? Or Something else.

The 1 just preserves the original subtotal. It is the result of factoring
out the common [DRF] from the equation:

Total Due = (Subtotal + Tax) = ([DRF] + ([DRF] * 0.07)) = ([DRF]*(1 +
0.07))


Tom Wickerath
Microsoft Access MVP

http://www.access.qbuilt.com/html/expert_contributors.html
http://www.access.qbuilt.com/html/search.html
__________________________________________

Thank you for the help. Here is how I entered the formula and got the
results needed.
=([DRF]*(1 + 0.07))
I tryed both of your suggestions, however they would work got error on
both, so I just took the [ ] off the tax rate and it worked. I would have
used the =CCur, if this hadn't been a course assignment. Much fast way to
format.

I'm not sure what the "1 +" stands for. Is it refering back to the first
calculation? Or Something else.

Thanks Again

 

[Guest]

Hi Donna,

You're welcome. You can actually learn a lot simply by reading questions
posted by other people, along with the answers provided. I have a zipped Word
document that you are welcome to download as well. It is filled with lots of
useful links. Anyone using Access should become familiar with the information
shown on the first three pages, along with two links shown in red font on
page 4. This includes naming conventions, reserved words, database design,
references, etc.

http://home.comcast.net/~tutorme2/samples/accesslinks.zip


Tom Wickerath
Microsoft Access MVP

http://www.access.qbuilt.com/html/expert_contributors.html
http://www.access.qbuilt.com/html/search.html
__________________________________________