Excel formula: Split payment across months

Split payment across months

While working with Excel, we are able to distribute a certain amount across a period of time based on some given conditions by using the AND function. This step by step tutorial will assist all levels of Excel users in splitting payment across months.

Figure 1. Final result: Split payment across months

Final formula: =($C4/$C5)*AND(E3>=$C6,E3<$C6+$C5)

Syntax of AND Function

AND function evaluates all logical tests and returns a TRUE if all arguments are TRUE; FALSE if one or more arguments is FALSE

=AND(logical1, [logical2], ...)

The parameters are:

logical1– the first condition that we want to test
only logical1 is required; succeeding conditions are optional

Setting up our Data

Our data consists of three cells containing the details of the payment. The total payment is $2,000 in cell C4. We want to split the payment in 4 months (cell C5) starting from the fifth month (cell C6). A second table is prepared in cells E3:P4.

The corresponding splitted payment per month will be recorded in cells E4:P4.

Figure 2. Sample data to split payment across months

Split payment across four months

In order to split payment across four months starting from the fifth month, we will use the AND function and some logical tests. Let us follow these steps:

Step 1. Select cell E4

Step 2. Enter the formula: =($C4/$C5)*AND(E3>=$C6,E3<$C6+$C5)

Step 3. Press ENTER

Step 4: Copy the formula in cell E4 to cells F4:P4 by clicking the “+” icon at the bottom right-corner of cell E4 and dragging it to the right

The dollar symbols “$” in the formula fix the cells so that we can easily copy and paste the formula to other cells.

Figure 3. Entering the formula using AND function

Our formula has two parts. The first part $C4/$C5 simply divides total payment by the number of months, in order to determine the splitted payment per month. The second part AND(E3>=$C6,E3<$C6+$C5) determines which months should the payment be made. The start month is cell C6 while the end month is the sum of the start month (C6) and the number of months (C5).

The AND function returns TRUE if both conditions are satisfied:

Greater than or equal to start month
Less than the end month

As a result, our formula returns a zero “0” value for FALSE, and returns the splitted payment for TRUE. As shown below, the splitted payment of 500 is recorded in four months, starting from the fifth month up to the eighth month.

Figure 4. Output: Split payment across four months starting from 5th month

Most of the time, the problem you will need to solve will be more complex than a simple application of a formula or function. If you want to save hours of research and frustration, try our live Excelchat service! Our Excel Experts are available 24/7 to answer any Excel question you may have. We guarantee a connection within 30 seconds and a customized solution within 20 minutes.

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Another blog reader asked this question today on Excelchat:

I have a ledger of payments in rows that include columns for 'first payment' and 'last payment' that I need to populate a calendar set up across many columns based on a payment schedule that can be paid annually (@ first payment date), semi-annually (@ first payment date and recurring 6 months later = last payment date), and frankly any other cadence i haven't yet integrated. I'm not sure if this is as simple as SUMIFS that integrates 'OR' logic (if a date in either of the two payment columns (cols R or S) = the calendar column (*$1), drop a payment amount (col E / 1 for annual, /2 for semi-annual, etc) in the right cols.

An Excelchat Expert solved this problem in 17 mins!

I finished an amortization table for my excel class. The 2nd part of the question asks us to figure out the number of years and months that 1/4 of the loan is paid off, the number of years and months that 1/2 of the loan is paid off, the number of years and months that 3/4 of the loan is paid off, and the year and month when the payment is equally split between interest and principal.

An Excelchat Expert solved this problem in 11 mins!