Forum Discussion
Trying to calculate past due dates
Hi, I'm trying to create a spreadsheet to tackle late dates on payments -- I need to be able to track how far past due someone is on a loan while factoring in partial payments. So for example, a paym...
I"m going to chime in here with some questions that (it seems to me) need to be answered to make this spreadsheet be fully coherent.
- I gather that these payments due each month come from something like a credit card statement for the month. Correct?
- Shouldn't there be interest charged on amounts that are past due? (I've added a column that does this)
- If they're monthly credit card balances--wouldn't they more randomly increase and decrease?
I would recommend that there be a starting line where the balance due is $0.00. Just for the sake of data integrity. It also enables the formulas to make reference to that starting balance and then create a running "Current Balance Due"
Anyway, I've modified it to add a column or two that charge monthly interest on any balance outstanding. With that, I'm not sure that number of days of delinquency is even relevant. But take a look and see if this makes any sense.
And thank you for the spreadsheet. It's not exactly what I'm needing but I appreciate all the help!