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Fri 13 Aug, 2010 12:18 am
I need a formula for money that is owed (job) and it has a start date.
The invoice is 30 days payable but after that there is a 0.5% late fee on the total amount owing. I have the spreadsheet working but cannot get it to calculate interest after the first 30 days.
row 1 todays date
row 2 date of job done
row 3 money owing
row 4 interest rate
row 5 Interest amount only
row 6 Total owing
this is repeated in other columns as different jobs are added. all the same customer
My thanks in advance
Joeyct
After Amount due, you need a due date. Then +30 days after that, the interest penalty starts.