So, I've beat my head against a wall for a couple years before figureing out how to set up a pay off recording. (the damn answer was so simple I almost had a stroke from realizing how dumb I was trying something much harder than it had to be)
But now, that whom I created this spreadsheet file to help calculate amount deductions from a structured payment plan; has changed the method to which they apply the deductions. Namely to help reduce the eventual time it will take to pay off the original sum.
The old method determined the length of time passed between two payments, then used that to calculate a structured payment charge, deduct that from the payment made, and then subtract the remaining value from the principal amount. What this did, when the payment wasn't enough to cover the charge, was add back to the principal amount the difference of the value of charge assesed. Thus increasing the length of time it would take to pay off one of these sturctured payment plans for every time a service charge was added back.
The new method that this individual now uses still functions the same, however, instead of adding back the difference of amount left of a service charge; they are applying what is left over into the next payment made as neccesary until the payment made catches up to the previous service charge amounts, and the current service charge due that payment. Again, anything left over being deducted from the principal.
Now, my problem is that my created spreadsheet works with the old method, but I cannot figure out how to work it to figure out how to keep from applying remaining values of the service charge to the principal amount and add it to the next service charges until it is caught up.
Could someone help me with that? I'm using the Microsoft Works Spreadsheet program to make this. I'm certain I could use the IF(a=x,b,c) function, but I cannot figure out how to tell it to look up the +/- value of the numbers in the neccesary cells. But if anyone knows how to do that, or how I can instruct the setup to note weither the value is positive or negative, and then to add or subtract based on those values where needed; I'd be greatly appreciative.