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Need to calculate late charge from date cell

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Melissa - Feb 26, 2010 at 11:45 AM
rizvisa1 Posts 4478 Registration date Thursday January 28, 2010 Status Contributor Last seen May 5, 2022 - Feb 26, 2010 at 12:49 PM
Hello,

I need to create a formula that will allow me to calculate a late charge if the customer is late. I have the =TODAY() calculation in Cell A4. I want the spreadsheet to automatically calculate the late charge if I receive a payment late by one day. The payments are supposed to be received on the 1st of every month and on the 2nd a late charge is assessed. If the payment is collected on the 1st, nothing should happen or even just a $0.00. Does this make sense?

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Answer 1 / 1
rizvisa1 Posts 4478 Registration date Thursday January 28, 2010 Status Contributor Last seen May 5, 2022 766
Feb 26, 2010 at 12:49 PM
If you are basing your calculations of late charge based on Today(), you are losing money as every day you open the workbook, the cell would have that days value


Since I have no idea how your data look like, I can only give you the formula that will let you know the first of the current month

=DATE(YEAR(TODAY()), MONTH(TODAY()), 1)
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