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Calculate interest on multiple invoice and payments dates - please help?

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    Calculate interest on multiple invoice and payments dates - please help?

    Hello,
    First post here, so please can someone help me?
    I am trying to calculate interest on a list of invoices which have daily due dates. Problem is they are still currently unpaid so I also need to project interest based on weekly payments offered.
    Example of data:
    Invoice Inv date Due date Value
    123456 18/08/2018 29/09/2018 61.87
    123457 25/08/2018 06/10/2018 4,945.91
    123458 25/08/2018 06/10/2018 18.27
    123459 01/09/2018 13/10/2018 23.78
    123460 01/09/2018 13/10/2018 5,007.51
    So I can calulate the interest as of today but need to calculate the interest based on future weekly schduled payments of say 100.00 a week.

    Anyone able to help with a formula please?
    Thanks
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    Last edited by HH-CC; 01-03-2019 at 05:00 AM. Reason: Addition of sample data

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    Re: Calculate interest on multiple invoice and payments dates - please help?

    Welcome to the forum!

    Will you please attach a sample Excel workbook? We are not able to work with or manipulate a picture of one and nobody wants to have to recreate your data from scratch.

    1. Make sure that your sample data are REPRESENTATIVE of your real data. The use of unrepresentative data is very frustrating and can lead to long delays in reaching a solution.

    2. Make sure that your desired results are also shown (mock up the results manually).

    3. Make sure that all confidential data is removed or replaced with dummy data first (e.g. names, addresses, E-mails, etc.).

    4. Try to avoid using merged cells as they cause lots of problems.

    Unfortunately the attachment icon doesn't work at the moment, so to attach an Excel file you have to do the following: just before posting, scroll down to Go Advanced and then scroll down to Manage Attachments. Now follow the instructions at the top of that screen.

    Please pay particular attention to point 2 (above): without an idea of your intended outcomes, it is often very difficult to offer appropriate advice.
    Ali


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    Re: Calculate interest on multiple invoice and payments dates - please help?

    How much of this is a finance question and how much is Excel? I find that I must first understand the finance question (exactly what do I mean by "interest") before I can even begin to answer the Excel question. Is this a future value/present value type problem where you would expect to use the XIRR() (or similar) function, or something else? https://support.office.com/en-us/art...b-a303ad9adc9d
    Quote Originally Posted by shg
    Mathematics is the native language of the natural world. Just trying to become literate.

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    Re: Calculate interest on multiple invoice and payments dates - please help?

    A bit of both I suppose. I have no experience of XIRR()....
    I'm trying to find a way to calculate interest on the days overdue of the invoice dates based on future scheduled partial payments.

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    Re: Calculate interest on multiple invoice and payments dates - please help?

    As I indicated, I find that we must first understand the financial side of the question before we can talk about the spreadsheet programming side of the question. I fear that, if you have no experience with XIRR() (one standard approach to dealing with interest calculations), that you are unfamiliar with any of the ways that interest calculations might be performed. I do not have that expertise, either.

    I will see if any of our members with greater financial knowledge can contribute anything. In the meantime, I suggest that you inquire with your mentors, supervisors, and co-workers how your company thinks and calculates interest.

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