Circular Reference Problem Calculating Net Pay

[Gerard]

Hi I am constructing a spreadsheet to calculate pays. Problem is I want
to round the pays to the nearest $5 and put the balance from the net
pay as extra tax.
I am using the tax figure to calculate the net pay... which results in
a circular reference error.
Going to Tools, Options and turning Iteration is not an option and does
not suit my purpose. I am trying to find a formula workaround.

Gross $1,155.75
Tax $276.00
Union $6.92
Add. Super $10.00
Allowances $60.00
Net $922.83
I would like to round the net pay to $920 in this instance and add the
remainder (2.83) as extra tax. Problem is the tax amount is used to get
the net amount.
Any solutions would be greatly appreciated.

 

[Dave F]

What formula are you currently using?

 

[Gerard]

What formula are you currently using?

=FLOOR(x,5)

Rounds the net pay to the nearest (lowest) $5 multiple. But then how
can I re add this to the tax amount and calculate a new net figure?

 

[Pete_UK]

Assuming your data above is in cells A1 to B6, you can add these labels
in A8 to A10:

A8: Adjusted Net
A9: Difference
A10: Adjusted Tax

and add these formulae in B8 to B10:

B8: =FLOOR(B6,5)
B9: =B6-B8
B10: =B2+B9

Hope this helps.

Pete

 

[Gerard]

You are spot on, Thanks for your time Pete

Assuming your data above is in cells A1 to B6, you can add these labels
in A8 to A10:

A8: Adjusted Net
A9: Difference
A10: Adjusted Tax

and add these formulae in B8 to B10:

B8: =FLOOR(B6,5)
B9: =B6-B8
B10: =B2+B9

Hope this helps.

Pete

 

[Pete_UK]

You're welcome.

Pete

You are spot on, Thanks for your time Pete