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Principal Only payments in an already very complex spreadsheet

Posted on 2011-09-23
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Last Modified: 2012-05-12
I need a way of putting in a payment that goes solely to the principle balance of the loan.  I need to put it in a separate column in the Loan Data tab, and have it generate in the Monthly Report tab without messing up the way the information in the report tab works....going to be very complicated.  I can have the payment info in a different cell than C17, but preferably not.  I am attaching the spreadsheet, it is an amortization schedule for a loan.  
Copy-of-Amortization-on-a-Simple.xls
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Question by:binaryman101
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7 Comments
 
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Accepted Solution

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BusyMama earned 500 total points
ID: 36588986
Changed data sheet

Column C to include the total of principal only and payment
IF('Monthly Report'!$A$17='Loan Data'!B18,'Loan Data'!F18+D18,"")

Column E to input the date if the principal only amount is filled
IF(F18>0,B18,IF(D18>0,B18,""))

Cell I18 to subtract payments made the first day from just the principal
IF(F18=0,$H$9,H9-F18)

The remaining column I cells to subtract principal only payments
IF(F19>H18+G19,I18-F19+G19+H18-D19,I18-D19)


Test-Amortization-on-a-Simple.xls
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Author Comment

by:binaryman101
ID: 36589076
ok BusyMama....i'm kinda scared at this point....i think that I might be totally done with this spreadsheet....before I say it works completely...i'm going to let my accountant look at this to see.  So far so good.  I'll comment back shortly.
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Expert Comment

by:BusyMama
ID: 36589118
The only thing I noticed was on the report tab, there isn't a spot that shows the principal payment yet.  :)
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LVL 7

Expert Comment

by:BusyMama
ID: 36589122
In the bottom section, that is.
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Author Comment

by:binaryman101
ID: 36589980
My accountant has approved, your awesomeness.  At this point I totally love your work!  Thank you very very much!
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Author Closing Comment

by:binaryman101
ID: 36589985
you simply rock
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LVL 7

Expert Comment

by:BusyMama
ID: 36591003
Glad I could help!  It was fun - thanks!  :)
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