Formula to Generate Date Based on Another Date

[BASmith]

Hello,

I need to calculate first payment dates for loans.

If the Origination date (date of the Loan documents) is any day except the first day of the month, the payment is due on the first two months later.
If the Origination date is the first day of the month, the payment is due on the first of the next month.

For example:
Origination Date of 8/1/12 would be a first payment date of 9/1/12.
Origination Date of 8/2/12 would be a first payment date of 10/1/12.
Origination Date of 8/30/12 would be a first payment date of 10/1/12.

I've been playing with tons of formulas and I can't get anything that will generate that payment date reliably. I don't want to go to macros because the spreadsheet we use is currently full of macros and it would cause all kinds of issues.

Any ideas? Thanks so much!

[Ace_XL]

If Column A has your origination dates use

=IF(DAY(A1)=1,EOMONTH(A1,0),EOMONTH(A1,1))+1 and drag down

[BASmith]

Genius! Thank you so much!

[Ace_XL]

Glad to help. Please mark the thread as solved.

Just noticed your profile mentions Excel 2003 and EOMONTH function isn't available in 2003 unless you are using an add-in pack. Have you upgraded to a newer version? If so, kindly update your profile too! Enjoy the forum!!

[BASmith]

Still in 2003 but using the proper add-in pack (same one for EDATE, I think).

How do I mark this as solved?

[Ace_XL]

Good man!

To mark your thread solved do the following:
- Go to the first post
- Click edit
- Click Advance
- Just below the word "Title:" you will see a dropdown with the word No prefix.
- Change to Solve
- Click Save

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