date calcuations

[Carlene]

I’m trying to develop a table to calculate annual salary remaining. With a 1
year date range based on 26.088 weeks in this range, what I would like to
happen is to be able to enter any date in a cell and in another cell show the
how much of the annual salary remains from the day entered. Example:
assuming date range is Jan1,07 to Dec31,07
A1 – June 1, 2007(dd/mm/yyyy)
B1 - $30,000 (annual salary)
C1 =A2/26.088 (1149.95) –Biweekly
D1 (=???formula???) (Result- $14999.94) remains as of June 1,***rough
calcualtions

 

[Fred Smith]

Why not divide by 365 to get the salary per day? Then you need only to multiply
by the number of days left in the year, as in:

=(date(year(a1),12,31)+1-a1)*b1/365

 

[Carlene]

The key is 26.088 used in salary calculations universally at work It may
have something to do with using the fiscal year instead of the calendar year.
I believe using "days" calculation slightly alters the outcome.

 

[T. Valko]

They're accounting for leap years in that the average number of days in a
year is 365.25.

365.25 / 14 (days in a pay period) = 26.08929

Biff

 

[Fred Smith]

Regardless, you're still going to have to calculate a daily rate. So use C1/7
instead of A1/365.