Free Average Daily Balance Calculator for Excel (2024 Update)
In this article, we will explain how to use our average daily balance calculator for Excel. Read on to learn more!
Average Daily Balance Calculator for Excel
You can get a copy of our average daily balance calculator for Excel here.
Do not request permission to edit. Simply go to File > Make a copy.
How to Use the Average Daily Balance Calculator for Excel
Follow the steps below to learn how to use our average daily balance calculator in Excel:
1. Open the Excel File
Open the Excel file containing the average daily balance calculator.
2. Enter Dates and Transactions
In the “Date” column (Column A), enter the dates for your transactions. Each date should be in a separate row. Ensure you include the start date of the period and the end date.
In the “Transaction” column (Column B), enter the transaction amounts corresponding to each date. Use positive numbers for deposits and negative numbers for withdrawals.
3. Enter Initial Balance
In the “Balance” column (Column C), enter the initial balance on the first date of the period.
4. Check the Calculations
After entering these values, the calculator will automatically compute the balance, days in period, daily balance contribution, total days, total daily balance, and average daily balance.
We hope that you now have a better understanding of how to use the average daily balance calculator for Excel. If you enjoyed this article, you might also like our articles on how to use our Excel construction material calculator and our interest-only loan calculator for Excel.
