MS-Excel Interest calculation using =IF - excel

I want to calculate an interest on a fee, that is if a client has not paid full amount of fee before the 15th of the month an interest of 10% should added to the amount to be paid
my cells are
Amount payable Column B
Amount paid Column c
upstanding amount Column D
Date for payment Column E
penalty to be Paid 10% Column
How do i calculate this ?
i tried the below formula and had Err:509
=IF(E2=TODAY()>15, "Overdue" "B2*10/100",)
what i was trying to accomplish is .If today is on the 15th or the date is pass 15th of the month and there is upstanding amount to be paid attract a penalty of 10%

Things you could try
1) =if (e2>15, "overdue", b2*.10) or
=if (text (now (),"dd") > 15, "overdue", b2*.1)
You don't have a true and a false statement here (or rather the false statement is blank), also I don't know what you're trying to accomplish with e2=today ()>15 - if you're trying to get the day of the current month, you'll need e2=day (today ())>15

Related

Excel: Number of weeks, when the income of weekends are more than the income of weekdays?

For example I have this sheet:
I want to calculate the number of weeks when the income of weekends are more than the income of weekdays.
(Income of weekends = Income of Sunday's + Saturday's income)
(Income of weekdays = Income Monday's + Tuesday's + Wednesday's + Thursday's + Friday's income)
For example in week 1: weekdays earning = 10$, weekends earning = 15$. Weekends earning > Weekday's earning
I'm not allowed to use helper columns.
If the layout is absolutely regular in full weeks as in the sample, I would use Offset to get the weekends and weeks as ranges, then Subtotal to get the sum of each of them as arrays, then compare them and finally use Sumproduct to get the count of those where weekend pay is greater than week's pay:
=SUMPRODUCT(--(SUBTOTAL(9,OFFSET(B2,ROW(INDIRECT("A1:A"&INT(COUNT(B:B)/7)))*7-2,0,2))>
SUBTOTAL(9,OFFSET(B2,ROW(INDIRECT("A1:A"&INT(COUNT(B:B)/7)))*7-7,0,5))))
The Row and Indirect are used to work out how many complete weeks there are, and so how many times the process has to be repeated.
Note - uses Indirect and Offset which are volatile and may give rise to performance issues with large sheets.

Excel Formula to Sum Values between Dates

I maintain an excel budget to help keep track of my day to day expenses, and which of them relate to personal expenditure and which relate to business. I pay for everything on one credit card, so use the excel to keep track of what relates to what.
I'm trying to do a "SUMIFS" to sum values between a date range to work out the value of my credit card payment at the end of each month for personal and business expenditure, I've left the formula below and will annotate it.
=SUMIFS(I:I,B:B,">="&"10/"&MONTH(B488)-1&"/"&YEAR(B488),B:B,"<"&"10/"&MONTH(B488)&"/"&YEAR(B488),C:C,"PER")
Column I:I is the column with all of my expenditure on the credit card
Column B:B is my dates column
The first criteria is saying, sum between the 10th of the previous month, cell B488 is the date of my American express payment. So for example if the payment is the 24th September, this criteria says "Sum greater than the 10th August"
The second criteria is saying, sum between the 10th of the current month, cell B488 is the date of my American express payment. So for example if the payment is the 24th September, this criteria says "Sum less than the 10th September"
Column C:C is my reference column for whether an expense is personal or business
The last criteria is saying sum if it is a personal expense
The end result of the formula is it should sum all personal expenditure between the 10th of the previous month and 10th of the current month. However, it is returning values which are a way off.
Try this date construction.
=SUMIFS(I:I, B:B,">="&date(YEAR(B488), MONTH(B488)-1, 10), B:B,"<"&date(YEAR(B488), MONTH(B488), 10), C:C, "PER")
'alternate
=SUMIFS(I:I, B:B,">="&EOMONTH(B488, -2)+10, B:B,"<"&EOMONTH(B488, -1)+10, C:C, "PER")

Excel AverageIf to get total average of multiple rows from a table

I have provided a simple example of what I would like to do. I tried to use AverageIf to get the average of all Monday sales for March and April but the formula only provides me the average of March's Monday sales and excludes April.
Note: Column A is Weekday number, Column B is March Sales, Column C is April Sales.
This is the formula I used:
=AVERAGEIF(A2:A200, "=" & 1, B2:C200), which only provides me with average Monday sales in column B.
How can I adjust the formula to also include April in the total average (i.e. take into account column C rather than just column B alone)
Rather than using AverageIf(), try using Average(If()) as an array formula for this kind of scenario.
In your scenario, you could use the following formula to get the average:
=AVERAGE(IF(A2:A200=1,B2:C200))
ENTERED AS AN ARRAY FORMULA using cntrl + shift + enter
Hope that helps.

Excel Prorated SUMIF

I have a worksheet with 2 columns, one is a dollar amount, and the other is a day of the month (1 through 31) that the dollar amount is due by (the dollars are income streams).
So, I use the following formula to SUM all the income streams due on or before a certain day:
=SUMIF(C5:C14, "<="&$B$42,B5:B14)
Column C is the due day
B42 is the cell in which I input the day to compare to like "15" for "total of all income due on or before the 15th" - the idea is to have a sum of all income received for the period.
Column B is the dollar amount for each income stream.
My question is:
Some of the income streams don't have a day next to them (the day cell in column C is blank). That means that that income stream doesn't come in as a check or a chunk on a certain date, it trickles in roughly evenly through out the month. So if the amount for the income stream is $10,000 and the day is 15 in a 30 day month, then I should add $5,000 to the total.
That would be something like:
=SUMIF(C5:C14, "",???)
So where the due date is blank, select ???. ??? isn't just the number, it's the number*(given_day/total_days_in_month).
So I think what I need for an accurate total is:
=SUMIF(C5:C14, "<="&$B$42,B5:B14) + SUMIF(C5:C14, "",???)
But I'm not sure how to write that exactly.
Here you go:
SUMIF(C5:C14, "",B5:B14)*$B$42/DAY(DATE(YEAR(A1),MONTH(A1)+1,0)))
It depends on how you want to handle the number of days in February. You could use CHOOSE(Month($B$42),31,28,31,30,31,30,31,31,30,31,30,31) as the denominator, and DAY($B$42) as the numerator.
If you need to able to accommodate varying years where the number of days in February depends on the year in $B$42, then a more flexible approach could have a lookup table of years and the number of days in February in that year, and the 28 value in the CHOOSE formula above would instead be VLOOKUP(YEAR($B$42),MyYearLookupRange,2,false).

How to calculate a monthly average when the month is not finished

Let's say I have a 12 cells on column A with the sales for each month last year. To calculate a monthly I can do a simple formula like this in A13 =sum(A1:A12)/12. But in column B I have the sales for this year, not a complete year, and August is not finished, but I have the running amount of sales for this month, so far. What kind of formula can I use to return a more accurate average?
Eduardo
Divide the current total by the total number of days in the month that have passed so far. Then multiply by the total number of days in the month.
If you are only looking for a projection for the year I would recommend this:
Divide the sum you have for the current year * 365 so far in the data by days to date. That will give you a cheap sum.
sum * 365 / total days to date
Ideally you could figure out the ratio of revenue and you have a seasonal business:
Last year to date / last year total = Last year percentage to date
This year to date / Last year percentage to date : would project the average for the full year.
Easy 2-step process:
I have my data in two columns: Date, # of Widgets Sold
Add a 3rd column "Month", and use the month and year function to return the month for each date (format cells as a number) (e.g., =MONTH(A2)&"/"&YEAR(A2) )
Generate a pivot table using the # of Widgets Sold and Month columns that sums/averages the data by month

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