FormuladrillInvoice aging buckets
An Excel formula exercise from Formuladrill. Solve it with a formula bar on a live sheet in your browser, and it is checked the moment you submit.
The task
From Priya in Finance: "I need an aging report as of the date in G1. In C2:C6 put the days each invoice is overdue (as-of date minus due date, negative if not yet due). In D2:D6 put the bucket: Current for 0 days or less, 1-30, 31-60, or 60+ for more than 60 days."
What this exercise teaches
An aging report is two steps: a number, then a label from that number. Testing the buckets in increasing order means each test only has to check its upper bound, and the first true test wins.
A hint if you get stuck
Days overdue is $G$1-B2 with the as-of date locked. The bucket is a chain of tests from smallest to largest, IFS or nested IF, with TRUE as the final catch-all.
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