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How to convert Amount to Words in Excel

Some time we need to change a numeric amount to words i.e. Rs. 4500 in words Rs. Four Thousand Five Hundred. We do this with a very simple add-in installation to our excel worksheet. This add-in has 3 amazing functions called = INR() (Indian Rupees Initial (Rs.),  REVINR(), and RSWORDS (). The INR() function converts a number to the Indian Style Comma formatted currency as you can see in the snapshot. The commas are placed in the right places separating lakhs and crores. But the result that you get is in the Text Format. So you cannot directly use the result in a formula for calculations. To overcome this issue I have added another function called REVINR().

INR () function convert the whole number include sign of Rs. with the amount. (See following pic).

The REVINR() function simply converts the result obtained from using INR function back to the number format so that you can use it in calculations as demonstrated in following image.

The RSWORDS() function converts any number to currency in the form of words. This can be quite useful if you generate your invoices using Excel and you want the amount to be displayed in words.

How to install this AddIns?

Installing AddIns in Excel is very simple. First you download the AddIn from the link at the bottom of this post and save it on your computer.

Open Microsoft Excel. Click on Tools>Add-Ins. Click on Browse and navigate to wherever you saved the AddIns.xla and then click OK. You have installed the AddIn.

How to use AddIns?

You can use this AddIns by directly entering the functions into a cell like =INR(XX), =REVINR(XX) and =RSWORDS(XX) where XX is the reference of the cell you want to convert.

Another way is to use the Insert Function window which you can open either through the fx button on the toolbar or though the Insert>Function menu. In the category dropdown box choose User defined and you will see the above three functions of AddIns.

Click here to Download this Add ins

Daily Penalty on Late TDS Return

Income Tax Department issue a notice towards Late Penalty of Rs. 200 (daily) will be liable on TDS Returns filing after 15th July 2012. The notice iffective from 1st July 2012, if you file your TDS Return after 15th July 2012 then you must paid Rs. 200 as late fees for one day, or if you are filing two days late then you must pay Rs. 400. TDS Return will not accepted without Late payment fees Challans. This law is circulated under section 234-E of Income Tax Act. 

So file your TDS Return before 15th July 2012 & avoid penalty.