I'm an insurance broker and currently I'm using Microsoft Excel to organize my insurance commissions. There are multiple insurance companies I'm cooperating with, like {Asia, Iran, Dey} and each of them offers a variety of insurance policies which I have selected a few to simplify the question: {Liability, Life, Third Party, Health}. Each company calculates commissions differently, as an example Dey would calculate commissions related to Liability policies with 30 Percents.
What I want to do is an excel document which the first column is the Premium which I type in for every policy; Imagine $200 for a Life insurance sold by Asia. The second column will be the insurance companies name - selected from a dropdown list -, in this case Asia. Next Column should be another dropdown list with policies that in this example I should choose life. at this point I want an automated process which understands that this was a life insurance policy by Asia, so the commission should be calculated with 8 percents and print this into the next column. and automatically multiply the premium and commission percentage ($200 * 8% = $16) and output this number to the last column.
I have prepared a schematic image of what information I have :
Schematic design of my information
I used to do this with extremely nested if and and with 2 insurance companies but when the third one was added I ran out of options.
In the following example, the lookup table (G1:I13) retrieves the commission percentage. This is used to calculate the actual commission from the policy cost.
=INDEX(I:I, AGGREGATE(15, 6, ROW($2:$99)/(($G$2:$G$99=$B2)*($H$2:$H$9=$C2)), 1))
Related
I am working on a pivot table in excel that shows a list of companies that have recently received loans, each from a different group of banks. I have a column for each bank indicating whether they contributed to a loan for each respective company (see picture below). My goal is to make a slicer (or other filter method) that allows me to select the loan issuing banks I want to consider. Right now I have a slicer for each bank, but would prefer to merge these into a single slicer.
E.g. suppose I want to see what companies have been issued a loan by bank 3 or bank 5 - then I would select these two from a list of the banks.
Help would be much appreciated!
List of Companies that have made a loan, with respective list of banks that have contributed to the loan
After looking at a few similarish questions I figured I needed something more specific so asking here. I will start by explaining the situation:
The Setup
I have a Store which sells Cakes, Cookies and Wine. I have the weekly sales data of each product sorta like this:
Product ID
Product Name
Quantity
Value
Week Ending
1
Ginderbread
2
£4
13/01/22
2
Chocolate chip
5
£25
13/01/22
3
Red Wine Bottle
1
£10
13/01/22
4
Sponge Cake
3
£9
13/01/22
Currently every week's data is stored within the same table, with me using a Week filter to show only the week i'm interested in.
Using this Data I created PivotTables that shows the sales of each category, with the ability to drill down to show the specific products. Table looks something like this:
Category
Quantity
Value
Cakes
2
£4
Cookies
7
£29
Wine
1
£10
The issue
I now want to stick in a new calculated column that shows the Value as a %. E.g The total value for the previous table was £43, so Cookies is about 67%. If I drill down, it would show the Chocolate Chip record as 80% and Gingerbread as 20%
I imagine doing this would be easier if each individual week's data was on a different table, but I got a lot of weeks and I also want to do tables showing the sales for over a period of time. Plus I don't know of a way to merge the "value" and "quantity" columns, etc instead of having 1 for each week being shown.
any advice would be appreciated
Create an extra column in the source table (prior to filtering) entitled "perc" calculated as the corresponding value for each row divdied by the total value across all rows (se pic. / eqn. for first row below) --
=E2/$E$6
No calculated fields required - just include perc as the mesaure of interest in your pivot table, with value setting as 'sum':
The reason why this worked is because of the common denominator - which allows one to sum ratios on a 1:1 basis.
Devising a calculated field using the standard 'fields, items & sets' functionality for ordinary pivot tables would not be feasible / possible as far as I am aware. You would need to move into the realm of power pivots and data models - which is not too complicated (readily accesible directly from the field list per below) - however, I see this as unnecessary complication for the task at hand.
Side notes:
Using table names in your functions is sometimes more convenient when entering, albeit may appear tricky at first when reviewing - first eqn above becomes:
=[#Value]/Table1[[#Totals],[Value]]
I have an excel file that has 2 sheets. 1 for tracking services rendered and another with a list of customers and their fees per service.
Tracking Sheet See Tracking Sheet Example
For each service, we manually enter a number for how many times the service was rendered. We then select the client from a drop-down list that we performed the services for.
Clients Sheet See Client Sheet Example
To get the "Amount Scheduled to Bill" and "Total Billed" in the tracking sheet, we reference the client sheet with pricing. This will have a list of clients along with cost for each service.
Let’s say that these are the 2 formulas that will be used to calculate the following on the tracking sheet (can probably be better and if so pls share):
Amount scheduled to be billed - (Used to calculate result for Amount Scheduled)
=SUM(Tracking!A2*Clients!B2, Tracking!B2*Clients!C2)
Total Billed - (Used to calculate result for Total Billed)
=SUM(Tracking!B2* Clients!C2, Tracking!C2* Clients!D2, Tracking!D2* Clients!E2)
Question:
Per row on the tracking sheet, when entering the amount of times a service was provided, how can we correlate the calculation formula per client in the drop-down to get the amount scheduled and the amount billed?
Thanks, VLOOKUP was what I needed and this website tutorial.
I am making a sheet to CALCULATE REAL REVENUE from each sale I make on my online store.
The problem is that the COST of my products is not always constant. It varies depending on many factors so each time I make a purchase I add the NEW PRODUCTS COST (LATEST COST).
Each time I make a new purchase I will add the QUANTITY and the new COST. (PURCHASE 1, PURCHASE 2, PURCHASE 3,etc).
Screenshoot of my sheet with example on ROW 41
In Column B I want to know which is the CURRENT COST based on the amount of TOTAL SALES of each product.
For example:
If I have sold less than 100 ( Pruchase 1 QUANTITY) then I need the formula to choose value of E41 (PURCHASE 1 COST).
If I have sold MORE than 100 and LESS than 300 (which is the SUM of PURCHASE 1 & PURCHASE 2) I need the formula to choose value of G41 (PURCHASE 2 COST) AND SO ON...
The formula I have come up with so far is this:
=INDEX(41:41,,IF(C41<=D41,COLUMN(E41),IF(C41<=D41+F41,COLUMN(E41)+2,IF(C41<=D41+F41+H41,COLUMN(E41)+4,COLUMN(E41)+6))))
This formula WORKS but only for the first 3 PURCHASES.
I need a formula that has no limit but I don't know how to make a VARIABLE formula.
Please take my words literally when I say that I wouldn't waste one minute on trying to solve your problem with your current sheet design. You would need VBA, and then extract quantities and prices from each purchase without the ability to filter on columns. (Minute is up.)
What you need is a Purchase database: ItemID, Date, Quantity, Price, maybe Ref#. From that you can pull out the transactions for any item by filtering on the item and the cost by using functions like SUMIF. However, this just brings the real problem within reach without solving it.
The problem is that when you buy 100 pcs #42 your price is 42. Then you buy another 100 pieces #46 your average price is 44. But if you sold 50 pieces with a cost of 42 then the average cost of the remaining 150 is 45. Therefore you can't determine the average cost of any remainder without knowing the quantity sold and the average cost applied to that sale. To solve that problem you will still need VBA but the suggested db format of purchase record would at least support such a solution.
Not so long ago I programmed a solution where there were additional columns in the db and each sale was recorded in 3 columns (much like your present purchase record): date, Qty, Ref. In this way I could trace the sale of each individual purchase (this was for shares trading). The sale of the newer quantity wouldn't start until the earlier quantity was sold out.
Perhaps you don't need to trace where the purchased quantity went to and just need one column to count down the balance to zero. That would be much simpler but has the drawback that you can't roll back errors. In the end the rollback was the reason why I abandoned the design. The key to the ability to abandon it is a similar db for sales: date, qty, price, Ref#.
With such a setup you might design a system to either extract the average or FiFo price from the purchase side and associate it with a sale. If the condition is that it should be done with worksheet functions you could add a column for "current cost" in the purchase db, changing with each purchase, which you look up by date from the sales side using VLOOKUP or SUMPRODUCT, having set a cost price applicable from the day of purchase until the next. If that appeals to you, a method must be found to deal with days on which there are both purchases and sales.
I am stuck and have been watching videos and googling a lot today.
My problem is that i need to calculate the tax to deduct as well as deduct the wholesale cost of the product on an excel spread sheet.
There are 3 regions east, west and central all with different tax amounts.
East is an $0.15 tax with a $50$ price deduction
Central is an $0.18 tax with a $40 price deduction
West is an $0.18 tax with a $30 price deduction
Revenue before tax - E2
Region - B2
enter image description here
I have tried =IF(B2="east",G2*0.15, '')IF(b2="central",G2*0.18,'')
I am unsure what to put in the if false slot or if I'm even on the right track.
Thanks for your time!
When facing a problem like yours it's good to remember the basic rule of Excel, "Never put data into a formula". Data belong in a worksheet. Formulas merely manipulate them. Accordingly, you need a table like this one.
Now the solution is easy - or it would be if your description was unambiguous. I presumed that what you call "price reduction" is in fact a tax free portion of the sale. So, if the value of the sale is $200 tax will be paid on an amount smaller than this. Of course, this leads to the possibility of a negative tax which is unlikely to be on offer. Therefore the formula to be employed is [Tax base] = [Sale Amount] - [Tax excempted amount], but not less than zero.
Based on the above presumption the formula below will do the job if you named the table pictured above as "Taxes". If you didn't name it, the default name might be Table1 and you can change that name in the formula.
=G2+MAX(ROUND((G2-VLOOKUP(B2,Taxes,3,FALSE))*VLOOKUP(B2,Taxes,2,FALSE),2),0)
I point out that the formula also rounds the result. This is important in a sheet like yours because you can't afford the total in column H to be different from what you see, and all you see is 2 digits.
Whenever the taxes change you simply change the table and leave the formulas in place. That part is easy. But there is one thing to remember. All the formulas of the past also refer to the table and all your old sales amounts will get "updated". So, when rates change, first Copy/PasteSpecial>Values all existing, or create a new table called Taxes2020 and start using a new formula referring to that table from the cut-off date forward.
If the price deduction if from the total for the region you should calculate it in two stages, the sum for the region, and then the net after tax.
If the deduction is per transaction I would suggest adding a lookup table and add another column to your list which will allow you to calculate all regions with the same formula.
=IF(B2="East",(G2*1.15)-50, IF(b2="Central",(G2*1.18)-40,(G2*1.18)-30))