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Daily Reports

The document outlines how to create an Excel sheet for tracking daily EMI collections, including suggested columns such as Loan ID, Customer Name, Principal Amount, and more. It provides the EMI calculation formula and instructions for calculating daily EMI. Additionally, it emphasizes the importance of updating the data daily to maintain accurate records of payments and outstanding amounts.

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ptsmithrafinances
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9 views1 page

Daily Reports

The document outlines how to create an Excel sheet for tracking daily EMI collections, including suggested columns such as Loan ID, Customer Name, Principal Amount, and more. It provides the EMI calculation formula and instructions for calculating daily EMI. Additionally, it emphasizes the importance of updating the data daily to maintain accurate records of payments and outstanding amounts.

Uploaded by

ptsmithrafinances
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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Creating an Excel sheet to calculate daily-based EMI collections and maintain data

is a great idea for financial tracking! Here’s how you can structure it:
Suggested Columns for the Excel File:
- Loan ID: A unique identifier for each loan.
- Customer Name: Name of the customer.
- Principal Amount (₹): Total loan amount.
- Interest Rate (%): Annual interest rate for the loan.
- Tenure (Months): Loan duration in months.
- EMI (₹): Monthly EMI amount (calculated using the EMI formula).
- Daily EMI (₹): EMI divided by the number of days in a month.
- Date: Date of daily payment.
- Daily Payment Collected (₹): Daily amount collected from the customer.
- Outstanding Amount (₹): Remaining loan amount after payments.

EMI Formula for Monthly EMI in Excel:


Use this formula for calculating EMI:
EMI = P * r * (1 + r)^n / [(1 + r)^n - 1]

In Excel, the formula looks like this:


= (Principal * Monthly Rate * (1 + Monthly Rate)^Tenure) / ((1 + Monthly
Rate)^Tenure - 1)


For a 12% annual interest rate, the monthly rate is:
= Annual Rate / 12 / 100

Calculating Daily EMI in Excel:


To calculate the daily EMI, divide the monthly EMI by the number of days in the
month:
= Monthly EMI / 30

Template Example:
Here’s an example row with values: | Loan ID | Customer Name | Principal Amount (₹)
| Interest Rate (%) | Tenure (Months) | Monthly EMI (₹) | Daily EMI (₹) | Date |
Daily Payment Collected (₹) | Outstanding Amount (₹) |
|-------------|-------------------|--------------------------|---------------------
---|---------------------|---------------------|------------------|----------|-----
--------------------------|----------------------------| | 001 | John Doe
| 1,00,000 | 12% | 12 | ₹8,885
| ₹296 | 06-Apr-2025 | ₹296 | ₹99,704
|
Maintaining Data:
- Update the Date and Daily Payment Collected (₹) columns daily.
- Adjust the Outstanding Amount (₹) by subtracting the collected payment each day.

Would you like me to draft an example Excel formula or provide any additional help
with this? 😊

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