Excel Lease Calculator

  • Status: Closed
  • Prize: $100
  • Entries Received: 19
  • Winner: Abuzar00

Contest Brief

Project Description: Development of a New York State Lease Calculation Excel Sheet with Capitalized Tax Integration

Overview

This project involves creating an Excel-based tool designed for the precise calculation of car lease payments in New York State. It will emphasize accurately incorporating the capitalized taxes in the lease calculations, aligning closely with the specific tax rules and methods prevalent in New York State. The goal is to ensure that the tool's results mirror those obtained from professional lease calculators, as reflected in provided screenshots.

Objectives
Accurate Lease Payment Calculation with Capitalized Taxes: Develop an Excel sheet that precisely calculates monthly lease payments, with a particular focus on correctly integrating capitalized taxes, alongside other costs such as fees and interest.
Adherence to New York State Tax Rules: Ensure the tool conforms to New York State's unique rules for lease tax calculations, particularly the capitalization of taxes within the lease payments.
Replication of Professional Calculator Results: The Excel tool should be able to closely replicate or approximate the results from professional lease calculators, as demonstrated in the provided screenshots.

Requirements
Input Parameters: The tool should accept essential inputs like MSRP, selling price, residual value, money factor, lease term, and upfront payments or fees.
Capitalized Tax Calculation Module: A specially designed module for calculating New York State sales tax, with a focus on the accurate capitalization of these taxes in the lease payments.
Monthly Payment Detailing: The tool should break down each component of the monthly lease payment including depreciation, interest (rent charge), and the capitalized taxes.
Result Comparison Feature: Incorporate a functionality to input data from professional lease calculations for direct comparison with the tool’s output.
Validation and Testing for Accuracy: Rigorous testing of the tool against various leasing scenarios, ensuring alignment with known calculations specific to New York State leases.
User-Friendly Interface: An intuitive interface that facilitates easy inputting of data and viewing of results.

Deliverables
Excel Calculation Tool: An Excel spreadsheet embedded with the required features for accurate lease calculations, including capitalized taxes.
Documentation and User Guide: Detailed documentation on the tool's usage and an explanatory guide on the underlying calculations.
Test Report: A comprehensive report showcasing the testing methodologies and results, emphasizing the tool’s accuracy in comparison with professional lease calculators.
Skills and Experience Required
Advanced proficiency in Excel, with a focus on complex formulas and user-interface design.
In-depth knowledge of finance, lease calculations, and specifically, the intricacies of New York State’s leasing and tax regulations.
Experience in creating finance-related calculation tools, particularly those involving tax calculations and lease payment breakdowns.

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Winner
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Employer Feedback

“Abuzar recently participated in a contest on Freelancer and showcased exceptional dedication and work ethic. His commitment to the task was admirable; he stayed focused and worked tirelessly until the job was done. What set Abuzar apart was his willingness to go above and beyond the requirements. He didn't just aim to complete the task; he put in an extraordinary amount of effort to ensure that every aspect of his work was of the highest quality. His approach was not just about winning the contest but about excelling in his field. The level of perseverance and attention to detail he demonstrated is commendable and speaks volumes about his professionalism and passion for his work. This experience undoubtedly adds to his growing reputation as a diligent and highly skilled professional.”

Profile image gyrow32, United States.

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Public Clarification Board

  • gyrow32
    Contest Holder
    • 5 months ago

    I am having trouble finding a way to message myself, i have been reponding to messages coming in.

    • 5 months ago
    1. freelancer22to00
      freelancer22to00
      • 5 months ago

      You can edit the contest to add the screenshot. Also for messaging freelancer, you can type the ID to send msg.

      • 5 months ago
  • IgeS
    IgeS
    • 5 months ago

    Please extend

    • 5 months ago
  • gyrow32
    Contest Holder
    • 5 months ago

    Evidently my screen shots of examples did not get uploaded. please message me directly and I will forward them to you.

    • 5 months ago
    1. usmancodes
      usmancodes
      • 5 months ago

      Please send me.

      • 5 months ago
    2. wahyuarwinando
      wahyuarwinando
      • 5 months ago

      Message me first sir, i can't message you first

      • 5 months ago

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