I want to prepare a prepaid expense tracker in excel. But get stuck at certain places.
I have an Invoice for goods/ services for $120000/- for the period 15 April 2017 to 14 April 2018. My financial year is from 1st April 17 to 31 March 2018
I have received this invoice on 25 Jun 2017 and booked the same on 25th June 2017, hence i would like to expense out value upto the period 25 Jun 2017 and the remaining period i.e. from 26 Jun 2017 to 14 Apr 2018 to be prepaid every month on the basis of number of days in that month.
If i do manual working without any automization, the values for the above example would be as given below -
a) Invoice value - $120000/-
b) Expensed out till 25 Jun 2017 = (25 Jun 17 - 15 Apr 2017 = 72 days of expense i.e. $120000/365*72 = $23,671/23. Balance amount to be prepaid is $96,328/77
c) Prepaid after 26 Jun 2017 = (26 Jun 2017 to 14 Apr 2018 = 293 days for prepaid). So in this case i will prepaid - $96,328/77 upto 14 Apr 2018. For remaining period of June it will be $1643.83, July17 - $10191.78, Aug -$10191.78, Sep - 9863.01...... so on upto 14 Apr 2018.
I have prepared an excel, can you please help me to get it to completion?.
Your quick action will be highly appreciated.
I have an Invoice for goods/ services for $120000/- for the period 15 April 2017 to 14 April 2018. My financial year is from 1st April 17 to 31 March 2018
I have received this invoice on 25 Jun 2017 and booked the same on 25th June 2017, hence i would like to expense out value upto the period 25 Jun 2017 and the remaining period i.e. from 26 Jun 2017 to 14 Apr 2018 to be prepaid every month on the basis of number of days in that month.
If i do manual working without any automization, the values for the above example would be as given below -
a) Invoice value - $120000/-
b) Expensed out till 25 Jun 2017 = (25 Jun 17 - 15 Apr 2017 = 72 days of expense i.e. $120000/365*72 = $23,671/23. Balance amount to be prepaid is $96,328/77
c) Prepaid after 26 Jun 2017 = (26 Jun 2017 to 14 Apr 2018 = 293 days for prepaid). So in this case i will prepaid - $96,328/77 upto 14 Apr 2018. For remaining period of June it will be $1643.83, July17 - $10191.78, Aug -$10191.78, Sep - 9863.01...... so on upto 14 Apr 2018.
I have prepared an excel, can you please help me to get it to completion?.
Your quick action will be highly appreciated.