• Skip to main content
  • Skip to header right navigation
  • Skip to site footer

My Online Training Hub

Learn Dashboards, Excel, Power BI, Power Query, Power Pivot

  • Courses
  • Pricing
    • Free Courses
    • Power BI Course
    • Excel Power Query Course
    • Power Pivot and DAX Course
    • Excel Dashboard Course
    • Excel PivotTable Course – Quick Start
    • Advanced Excel Formulas Course
    • Excel Expert Advanced Excel Training
    • Excel Tables Course
    • Excel, Word, Outlook
    • Financial Modelling Course
    • Excel PivotTable Course
    • Excel for Customer Service Professionals
    • Excel for Operations Management Course
    • Excel for Decision Making Under Uncertainty Course
    • Excel for Finance Course
    • Excel Analysis ToolPak Course
    • Multi-User Pricing
  • Resources
    • Free Downloads
    • Excel Functions Explained
    • Excel Formulas
    • Excel Add-ins
    • IF Function
      • Excel IF Statement Explained
      • Excel IF AND OR Functions
      • IF Formula Builder
    • Time & Dates in Excel
      • Excel Date & Time
      • Calculating Time in Excel
      • Excel Time Calculation Tricks
      • Excel Date and Time Formatting
    • Excel Keyboard Shortcuts
    • Excel Custom Number Format Guide
    • Pivot Tables Guide
    • VLOOKUP Guide
    • ALT Codes
    • Excel VBA & Macros
    • Excel User Forms
    • VBA String Functions
  • Members
    • Login
    • Password Reset
  • Blog
  • Excel Webinars
  • Excel Forum
    • Register as Forum Member

Apply total cash to monthly premiums and calculate balances|Power Query|Excel Forum|My Online Training Hub

You are here: Home / Apply total cash to monthly premiums and calculate balances|Power Query|Excel Forum|My Online Training Hub
Avatar
sp_LogInOut Log In sp_Registration Register
sp_Search Search
Advanced Search|Last Search Results
Search
Forum Scope




Match



Forum Options



Minimum search word length is 3 characters - maximum search word length is 84 characters
sp_Search Search
sp_RankInfo
Lost password?
sp_CrumbsHome HomeExcel ForumPower QueryApply total cash to monthly premium…
sp_PrintTopic sp_TopicIcon
Apply total cash to monthly premiums and calculate balances
Avatar
Blanka Blair
Member
Members
Level 0
Forum Posts: 53
Member Since:
October 17, 2015
sp_UserOfflineSmall Offline
1
September 27, 2018 - 1:23 am
sp_Permalink sp_Print

All,

I'm working on an aging report for transactions due at different dates and I've hit a wall.

I have premium transactions due at different days, then I have a cash amount which needs to be applied first to the oldest transactions, then the remainder to the next transaction, etc. For each of these transactions I need to calculate outstanding balance.

I need to be able to do it in Power Query. However, I cannot even figure out a formula to do it in Excel.

Below is the mock up data. Once I know how to figure out the BALANCE amount, I'll be able to do the aging.

POLICY DUE DATE TRANSACTION AMOUNT BALANCE
AAAA 4/14/2018 PREMIUM $128.53 $0.00
AAAA 5/15/2018 PREMIUM $14.83 $2.91
AAAA 6/14/2018 PREMIUM $14.83 $14.83
AAAA 7/15/2018 PREMIUM $14.83 $14.83
AAAA 8/14/2018 PREMIUM $14.83 $14.83
AAAA 9/14/2018 PREMIUM $9.33 $9.33
AAAA   CASH ($131.44)  
BBBB 4/14/2018 PREMIUM $83.58 $0.00
BBBB 5/15/2018 PREMIUM $12.38 $0.00
BBBB 6/14/2018 PREMIUM $12.38 $8.59
BBBB 7/15/2018 PREMIUM $12.38 $12.38
BBBB 8/14/2018 PREMIUM $12.38 $12.38
BBBB 9/14/2018 PREMIUM $12.38 $12.38
BBBB   CASH ($99.75)  

 

Would you be able to help?

Thank you,

Blanka

sp_AnswersTopicSeeAnswer See Answer
Avatar
Mynda Treacy
Admin
Level 10
Forum Posts: 4449
Member Since:
July 16, 2010
sp_UserOfflineSmall Offline
2
September 27, 2018 - 10:23 am
sp_Permalink sp_Print

Hi Blanka,

The balance doesn't make sense. Surely the balance for AAAA as at 6/14 is $17.74 ($2.91 + $14.83) and so on.

Also, what date does the CASH payment get received? You need to know the date received in order to do the ageing balance.

Mynda

Avatar
Blanka Blair
Member
Members
Level 0
Forum Posts: 53
Member Since:
October 17, 2015
sp_UserOfflineSmall Offline
3
October 19, 2018 - 6:41 am
sp_Permalink sp_Print

Hi Mynda,

We recently started installment payments and it's throwing me for a loop.

We load entire premium into the system at one time, but because the payments can be done in installments, not the entire premium is due at once.

The entire premium for policy AAAA above is $197.18 but parts of it are due on different dates. The payment (cash) in the amount of $131.44 was received on 7/24/18 (July 24th).

$128.53 was applied to the first premium with the due date of 4/14/18, therefore the balance for that date is now $0.

The remaining $2.91 was applied to the premium with due date of 5/15/18, so the balance should be $11.92 for this part of the premium (you're right, I do have an error in my table).

At this point, there is no more cash left, so the premium with due date of 6/14/18 is fully outstanding. Therefore the balance due on 6/14/18 is the full $14.83.

Same goes for all the remaining due dates - the entire premium amount is outstanding.

I need to calculate the aging as of 9/30/18 (September 30th), so in this case $2.91 + $14.83 would be over 90 days, then $14.83 would be 61-90 days, another $14.83 would be 31-60 days, and $9.33 would be 1-30 days.

I feel like I am overthinking it.

Thank you,

Blanka

Avatar
Catalin Bombea
Iasi, Romania
Admin
Level 10
Forum Posts: 1810
Member Since:
November 8, 2013
sp_UserOfflineSmall Offline
4
October 19, 2018 - 8:23 pm
sp_Permalink sp_Print

Hi Blanka,

Interesting challenge 🙂

Cash should be in a separate table, otherwise it will make thinks more complicate than it should be. We managed to display the data as you wanted (I continued what Mynda started), it contains complex operations though.

Ageing should be easy now, if you need help just let us know.

Cheers,

Catalin

sp_AnswersTopicAnswer
Answers Post
Avatar
Blanka Blair
Member
Members
Level 0
Forum Posts: 53
Member Since:
October 17, 2015
sp_UserOfflineSmall Offline
5
October 19, 2018 - 10:20 pm
sp_Permalink sp_Print

Hi Catalin,

 

Thank you so much!

The calculations you created are way above my head. This looks like advanced PQ so now I feel better, because I thought that it was a simple answer that was staring me in the face and I just couldn't figure it out. 🙂

I'll play around with it. I'll have to also try a scenario where I have more cash than premium (it does happen).

 

Thank you again.

Blanka

sp_Feed
Go to top
Forum Timezone: Australia/Brisbane
Most Users Ever Online: 245
Currently Online: Jeanine Hagge
Guest(s) 11
Currently Browsing this Page:
1 Guest(s)
Top Posters:
SunnyKow: 1432
Anders Sehlstedt: 871
Purfleet: 412
Frans Visser: 346
David_Ng: 306
lea cohen: 219
Jessica Stewart: 205
A.Maurizio: 202
Aye Mu: 201
jaryszek: 183
Newest Members:
Othman AL MUTAIRI
Misael Gutierrez Sr.
Attif Ihsan
Kieran Fee
Murat Hasanoglu
Brett Dryland
Saeed Aldousari
Bhuwan Devkota
Kathryn Patton
Maria Conatser
Forum Stats:
Groups: 3
Forums: 24
Topics: 6222
Posts: 27293

 

Member Stats:
Guest Posters: 49
Members: 31917
Moderators: 3
Admins: 4
Administrators: Mynda Treacy, Philip Treacy, Catalin Bombea, FT
Moderators: MOTH Support, Velouria, Riny van Eekelen
© Simple:Press —sp_Information

Sidebar

Blog Categories

  • Excel
  • Excel Charts
  • Excel Dashboard
  • Excel Formulas
  • Excel PivotTables
  • Excel Shortcuts
  • Excel VBA
  • General Tips
  • Online Training
  • Outlook
  • Power Apps
  • Power Automate
  • Power BI
  • Power Pivot
  • Power Query
microsoft mvp logo
trustpilot excellent rating
Secured by Sucuri Badge
MyOnlineTrainingHub on YouTube Mynda Treacy on Linked In Mynda Treacy on Instagram Mynda Treacy on Twitter Mynda Treacy on Pinterest MyOnlineTrainingHub on Facebook
 

Company

  • About My Online Training Hub
  • Disclosure Statement
  • Frequently Asked Questions
  • Guarantee
  • Privacy Policy
  • Terms & Conditions
  • Testimonials
  • Become an Affiliate

Support

  • Contact
  • Forum
  • Helpdesk - For Technical Issues

Copyright © 2023 · My Online Training Hub · All Rights Reserved. Microsoft and the Microsoft Office logo are trademarks or registered trademarks of Microsoft Corporation in the United States and/or other countries. Product names, logos, brands, and other trademarks featured or referred to within this website are the property of their respective trademark holders.