When an organisation or a large corporate keeps money in fixed deposit the interest is to be recognized on periodic basis like monthly quarterly or half yearly. When there are many fixed deposit accounts opened in a period, it is difficult to calculate accrued interest for a period to recognize the revenue. This fd calculator Excel sheet is prepared to track to calculate the monthly interest accrued amount on each fixed deposit to recognize the revenue. The FD calculator Excel sheet can also be used to monitor the maturity schedule of the fixed deposit accounts.
The details of fixed deposits like deposit number Bank, principal amount invested, interest rate maturity period, should be updated in the excel sheet. The fd calculator Excel sheet automatically calculate the total interest on this fixed deposit and the same will be automatically allocated in each month during the deposit period.
This can be used for any financial year, if the financial year is updated in the given cell, monthly details will be updated automatically in each column and interest will be calculated for that particular period. This FD calculator sheet will save lot of time and avoid mistakes in calculation.
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