Forum Discussion
stjohn
Jan 29, 2025Copper Contributor
Excel Formula
What is the correct formula in Excel to calculate net pay? I have tried several, but the amount is a penny off. I'd like to subtract social security and medicare payments from the gross salary. What's the formula?
It will be easy for us to help if you have a workbook or dummy data with screenshot. But could this help;
=SUM(A2)-(B2+C2). This formula assumes that you have your gross salary in A2
- NnyiimockBitanyanmiBrass Contributor
It will be easy for us to help if you have a workbook or dummy data with screenshot. But could this help;
=SUM(A2)-(B2+C2). This formula assumes that you have your gross salary in A2
- stjohnCopper Contributor
Thank you! That worked. Later, I did attach what I've been trying, but I don't see it. This is my first time posting, so I may have done something wrong.
- NnyiimockBitanyanmiBrass Contributor
Glad to hear it did
Please provide detailed and specific information.
Could you attach a small sample workbook demonstrating the problem (without sensitive data), or if that is not possible, make it available through OneDrive, Google Drive, Dropbox or similar?
- stjohnCopper Contributor
Later, I did attach what I've been trying, but I don't see it. This is my first time posting, so I may have done something wrong. The formula the other guy posted worked!
- stjohnCopper Contributor
According to my math, the net pay should be $302.21. Excel disagrees.
For reference: $327.25 is in cell B5
$20.29 is in cell B6
$4.75 is in cell B7
Net Pay amount should be in cell B8
Formulas I’ve tried…
=B5-(B6+B7)
=B5-B6-B7
=DIFFERENCE(B5-B6-B7)
=(B6+B7)-B5