how to calculate starting amount when u know tax% & total ?

[cumie]

hi,

i'm sure this will be easy for some of you. it's been a while since i did formulas in calculus or excel.

i am doing our photo biz accounting data entry to pass to an accountant. i have several receipts which show only the total amount (say $40). and i know that the tax included was 16%, but i can't remember how to figure out what the base amount would be.

any formula tips?

many thanks!

[darkyam]

Try =40/1.16

[cumie]

yes, that works! thank you for the reminder.