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need to calculate interest on invoices each day past due until paid, I have varying rates

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    need to calculate interest on invoices each day past due until paid, I have varying rates

    I need help. I have created a spreadsheet to calculate interest.
    the problem is that I need to be able to differ between interest rates for each invoice.
    the interest rates ie 18%/Yearly I will divide the percentage by 365 to accurately calculate daily rate.

    I want the program to calculate from the first day it becomes past due until it is paid.
    I have basic formulas to calculate the days past due as well as the interest rate does anyone know of
    a way to combine all of these? I am not an excel expert. I appreciate any help

    INV# BAL Due Date Interest Total Due

  2. #2
    Forum Contributor Russell Dawson's Avatar
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    Re: need to calculate interest on invoices each day past due until paid, I have varying ra

    Hi and welcome to the forum.

    It's always preferable to post a copy of your workbook so that we don't have to create new ones ourselves and we can also see what you are trying to achieve more easily. Please read the rules: http://www.excelforum.com/forum-rule...rum-rules.html

    That said, is the attached any use? If not please post your workbook.

    Regards

    Russell
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  3. #3
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    Re: need to calculate interest on invoices each day past due until paid, I have varying ra

    Thank you it works great, I did make a second post with an example.

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