Use Excel's MOD() function to allocate quarterly payments

Simon Hurst describes a useful function for building cashflow projections in Excel.

During a recent IT Faculty Excel roadshow event one of the delegates asked how best to automatically allocate quarterly payments to the correct months for a 12-month forecast. The MOD() function sprang to mind. MOD() is a very simple function that just takes two arguments – a number and a 'divisor'. MOD() then returns the remainder. For example MOD(5,2) would return 1.