Installment calculator
Split a sale into equal monthly payments and see every due date. A 6,000 sale in 3 parts is 2,000 a month, due on the same day each month. Leftover cents go on the first part, so the parts always add up to the total.
Updated:
Enter a valid amount and 2-36 parts.
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How does it work?
The total is divided by the number of parts. The cents that do not divide go to the first part, so the parts add up exactly. Due dates fall on the same day each month; when a month is shorter, the last day of that month is used (31 January, then 28 or 29 February).
A monthly charge, if you enter one, is added as simple interest: total × monthly rate × months. Banks use compound interest; this is only a rough guide.
Tips for selling on installments
- Write the number of parts, the amounts and the dates together with the customer.
- Agree any extra charge before the sale.
- Send a short reminder before each part is due.
In Baki Fast an installment sale is one entry, and each part becomes its own debt with a due date ("Installment 2/3"). More: credit tracking.
Questions
How many parts can I use?
From 2 to 36 in this tool.
Can I charge extra for installments?
Often yes if the customer agrees beforehand, but consumer and tax rules differ by country. Check with an accountant.