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