How to build formulas that automatically calculate interest and due dates
In a payables table in Jestor, you can create a formula field that automatically calculates the value with late interest, and another that calculates the due date based on the issue date, with no need to manually update these values.
Why does automating interest and due date calculations matter?
Calculating interest or setting a due date by hand, record by record, is the kind of repetitive task that eats up time and opens the door to human error, especially in finance tables with a high volume of entries.
How to build interest and due date formulas in Jestor?
- Interest formula: using the original value field as a reference, the formula multiplies that value by a factor — for example, 1.10 to apply 10% interest.
- Due date formula: starting from an issue date field, the date-sum function adds a time interval to automatically calculate the due date.
- The interval can be configured in different units — days, months, etc.
- These same formula fields also support text concatenation and other combinations.
| Formula | How to calculate |
|---|---|
| Late interest | Original value × factor (e.g. 1.10 for 10%) |
| Due date | Issue date + interval (days, months) |
To build the interest and due date formulas:
- In the table, add a formula-type column.
- For interest, multiply the value field by the desired factor.
- For the due date, use the date-sum function, selecting the issue date field, the numeric interval, and the time unit.
Why choose Jestor to automate financial calculations?
Having this calculation automated directly in the finance table means the team doesn't need a parallel spreadsheet just to calculate interest or forecast due dates.
Frequently asked questions
Does the interest formula recalculate itself if the original value changes?
Yes, since it's a formula field, the result is automatically recalculated whenever the source value changes.
Can I use a monthly interval instead of days?
Yes, the date-sum function accepts different units, including days and months.
Do these formula fields work only for numbers and dates?
No, they also support text concatenation and other combinations within the same table.
Do I need to rebuild the formula for every new record in the table?
No, the formula is created once in the field and applies automatically to all records.
Reference video
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