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Calculate Gross wage from net figure

  • 23-02-2013 11:09PM
    #1
    patg
    Registered Users, Registered Users 2 Posts: 157 ✭✭


    Hi - would be grateful for assistance on this problem.
    Does anyone know who to work out gross from a net figure.
    I guess I just need to reverse the formula:
    G-(Gx0.2)-(Gx0.04)-(Gx0.07)=Net

    So I need to isolate the G in the above formula but I can't remember how to treat the G in brackets when rearranging.
    Can anyone help?

    Alternatively I'm pretty sure I've seen an excel function where you can ask computer to work backwards through a formula from the given end value - however I don't remember what the instruction is called.

    Can anyone help???

    Note - for purposes of this query please ignore different rates of tax/PRSI /USC
    Thanks in advance.


Comments

  • #2
    SBWife
    Registered Users, Registered Users 2 Posts: 1,287 ✭✭✭SBWife


    Multiply it out so you have G-.2G-.04G-.07 G = N you get .69G = N then divide N by .69 will give you the gross.


  • #3
    namenotavailablE
    Registered Users, Registered Users 2 Posts: 59,748 ✭✭✭✭namenotavailablE


    Try the Excel "goal seek" function or my net pay calculator also has a net-to-gross calculator

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



  • #4
    patg
    Registered Users, Registered Users 2 Posts: 157 ✭✭patg


    SBWife and namenot available - Thanks for replies. Much appreciated.
    Also - my brainiac moment realising if I'm assuming deductions of 20%, 7% and 4%... then why not just work back from assumed deduction of 31% - so just calculate what is 100% of 69% net figure.


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