I am building a financial model and adding loan payments, and want the payments to start on a conditional start date.
I can calculate the PMT amount for a loan, but cant seem to get the payments PMT to show up in the specific start date (month) and to end when the balance is 0.
[1]: https://i.stack.imgur.com/4VWzk.png
I have a start date in Column J and calculated the payment, but I get an error message.
I tried the following, but not sure where I am going wrong.
J61 pmt start date either Jan 1 or June 1 2023
S2- start of the month
S4- end of the month
PMT(rate, nper, pv, [fv], [type]) this works
NPER= number of payments
=IFERROR(IF(AND(J61>S3,J61<=S4,1,0)),PMT(G61/H61,I61*H61,F61))
Not sure how to incorporate the ending balance into this formula.
End date with Balance equals= 0
Since your financial model has monthly granularity of calculations, it is not clear how you want to allocate the payments for loans that have intra-month start dates.
Here is a very simple solution that will not allocated pro rata for the days of a month, but allocated the total monthly payments starting with the month of the start date.
=(S$4>=$J61)*(S$4<=EDATE($J61,$H61)-1)*$K61
Which looks like this
So, as you can see in the screenshot, although the start date for the 1st loan is the 31st of January, there will already occur the full PMT amount for the month of January in the timeline.
Related
Flutter has a showTimePicker and a showDatePicker. But for those who only want to choose a day between 1 and 31 is there a similar made solution?
If not there are manny options to build this, so what is the most adequated (material widget?)?
In this case, the goal is to select the day of the month at which a monthly recurring payment will provide alerts and notify the missing payments.
Note: It is okay to be 31 if the user wants it to be at the end of each month, since the way I'm implementing is comparing the int of current day with the select day, so no worries about Febreuary and month with 30 days
I am currently using a budget sheet that automatically updates date cells to the next "payment" date for a bill. As an example:
=VALUE("2019-03-08")+14*FLOOR((NOW()-VALUE("2019-03-08"))/14)
The cell starts with a date and it then updates every 14 days to the new date. This shows me a cell that has the date of the biweekly payment that is due. In the above example, the cell shows the value of "2019-03-08" until 2 weeks have passed. Once 14 days have passed, the cell will automatically upload to "2019-03-22". This automation will continue forever in 14-day increments. The date displayed in the cell will always update automatically to the next 14-day date. This helps me display the exact due date of a biweekly payment without updating the cell.
I want to do the same thing for a monthly payment, but using a day count of 30 is not very accurate. Is there a way to modify this method to let me update the date automatically to the 24th of the month, every month, on that day. So I start with 2/24/2019 and when 3/24/2019 hits, the cell updates to that date, and so on. The reason this is not accurate is that the months are not all 30 day periods. February is 28 days and some are 31 days. I want the cell to increment in 1 month periods in the same way that the above formula updates in 14-day increments. As an example: The date will display "2/24/2019" until the same day on the next month occurs, then the cell will update to "3/24/2019". This process will continue forever with 4/24/2019, 5/24/2019, etc. It will continue with the year as well, so 12/24/2019 will change automatically to 01/24/2020.
UPDATE: Updated the description with examples of how the behavior works and what I am looking for...
It's much simpler than this. Use the EDATE function (e.g.):
=EDATE(A1,1)
Where A1 is your starting date and 1 is the number of months you which to increment by. See https://support.google.com/docs/answer/3092974?hl=en for more details.
this formula will increase the month every 24th and accounts for year change as well
=IF(DAY(TODAY())>=24,
DATE(YEAR(TODAY()), MONTH(TODAY())+1, 24),
DATE(YEAR(TODAY()), MONTH(TODAY()), 24))
paste where you need and drag down:
=VALUE("2019-"&ROW(A3)&"-08")+14*FLOOR((NOW()-VALUE("2019-"&ROW(A3)&"-08"))/14)
Simple questions, but I can't seem to find the answers in PayMill's API documentation or FAQ:
If a payment subscription is classed as monthly, does it poll for the funds every 30 days or on the anniversary of the month, i.e. set up on 15.4.2014, next payment 15.5.2014?
If it polls on the same date every month, what happens if the subscription was set up on the 31st of the month, i.e. on a date not present in February, April etc?
Thanks.
On the same date. If the interval is 1 MONTH and the first payment occurs on 15.4.2014 the next one will be on 15.5.2014. Note that you can also specify a weekday, in that case it will be the next weekday (e.g. Monday), either the 15.05.2014 (if it's a Monday) or the first Monday after 15.05.2014
It will probably be on the next day (1 March instead of the "missing 31 February". It will definitely not be skipped. If the exact behavior is crucial for your business, please contact the PAYMILL support to seek a definite answer.
How can I start charging a user the user immediately for a PayPal billing agreement?
Here's what I've got so far.
Create a Billing Plan (POST .../payments/billing-plans/)
Make it active (PATCH .../payments/billing-plans/)
Create a Billing Aggreement (POST .../payments/billing-agreements/)
Send user to approval_url, user approves, redirected to return url
Execute agreement (POST .../payments/billing-agreements//agreement-execute)
This all seems to work, but I want to charge the user right now and every month in the future. If I set start_date to now in step 3 I get an error, it must be in the future. If I set it in the future the user is not charged.
Do I need to 'Set outstanding agreement amounts' then 'Bill outstanding agreement amounts' for the initial payment?
Also, what about monthly payments, do they require some action or do they just happen as specified in the Billing Plan?
Update
I'm testing this around 2014-09-16T20:06:30+0000
If I send start_date as the current UTC time it get an error at step 2 telling me it must be in the future.
If I send the current date +30 secs or +2 hours I get through to step 5 which returns a 400 response: UNKNOWN_ERROR "An unknown error has occurred"
If I send the current date +4 hours it all works. The current UTC time is 8pm so adding 4 hours means the start_date is tomorrow.
Does this mean I can't charge the user today? Does the start_date have to be in next day or even the next business day?
I've talked to a PayPal rep and found that start_date must be tomorrow or later. They are going to add this to the docs.
If you want to start monthly billing immediately you might be able to do it by setting the start date to be in one months time and charging a setup fee to cover the first month. I haven't tested this as it's not what I want.
First payment for agreements will be billed right on specified start_date. The subsequent amounts are also taken automatically by PP. You need to work with the BillOutstandingAmount calls only if PP failed to pick the payment on the renewal date.
The problem I faced when developing with their RestAPI was specifying a wrong timezone. Maybe this is the same for you. Make sure the proper timezone is specified in your start_date (with all dates given to PP in fact)
Dates should be in this format: yyyy-MM-ddTHH:mm:ssZ
ex. start_date = 2014-09-16T09:20:00-0400
IF you want to make sure Paypal accepts the date as being valid, just add a few seconds to it.
Let's say you are in Java, you can do something like:
private String getPaypalDate()
{
DateFormat df = new SimpleDateFormat("yyyy-MM-dd'T'HH:mm:ssZ");
// Add 30 seconds to make sure Paypal accept the agreement date
Date rightNow = new Date(new Date().getTime() + 30000);
return df.format(rightNow);
}
I used this date format working.
$time = time();
$startDate = date('Y-m-d\\TH:i:s\\Z', $time);
I can't replicate, actually. I stumbled on this thread when getting the error due to setting it to moment.now(). But setting it to even 5 seconds in the future works a-ok. I'm using JavaScript, "start_date": moment().add({seconds:5}).format() and that checks out fine. Moment.js will set TZ to UTC when formatting as such, so it's gotta be a timezone thing on your end?
It looks like the payments just process based on the date being before or after 07:00 UTC of the current date.
For example. The current date time is 2017-05-04T04:50:00.00Z I set my start date to be the current UTC date time plus 30 seconds. Because the agreement date is set to a value greater then the current date time the API doesn't throw an error, but it DOESN'T set your time to be what you specified. Instead it sets it to 2017-05-04T07:00:00Z.
Now, if you have the same date time of 2017-05-04T04:50:00.00Z and instead of adding 30 seconds you add 24hrs you'd think that your time would then be set to be 2017-05-05T04:50:00.00Z. But no, the time will be set to 2017-05-05T07:00:00Z.
So it seems like these just process everyday at 07:00 UTC and you can't specify anything but the date.
I got confused about some issues:
1: The one month duration of auto-renewable subscriptions is 30 days or does it depend on a natural month?
Because I can only test in sandbox mode，so the duration is just several minutes...
Maybe Apple just simply calculates it like this: 2013\01\15 -> 2013\02\15 -> 2013\03\15. If so,the second issue comes up
2: For example: I buy a monthly auto-renewable subscriptions at 2013\03\31 ,because 2013\04 only has 30 days, then what is the expires_date of my subscriptions? 2013\04\30 or 2013\05\01 or other date ?
It's adding 1 month, not 30 days. The number of days in 1 month varies. So purchasing a subscription on 3/31 would end on 4/30.
You can use NSDate, NSCalendar, and NSDateComponents to add a month to a date and see how long it will last. More info here: Modifying NSDate to represent 1 month from today
I can confirm this from my own app's data on both iOS and Android.
If someone purchases a monthly renewing subscription on, for example, the 15th of one month, then it will renew on the 15th of the next month, irrespective of how many days were in the month.
If someone purchases the subscription on the 31st of March, then it will renew on May 1st (because April has no 31st day, the renewal date will jump to the next available day in the calendar year - this also applies to February in a leap year, etc).
Given this, and assuming your app's primary income is from subscriptions, over time you should expect to see lower than average sales on the 31st of any given month because there won't be as many renewals. But it is no cause for concern as it is counteracted by the fact that you should expect to see higher than average sales on the 1st of any month that follows a long month anyway. Don't be dissapointed if you check your stats on the 31st of any month.