airsaylongcome:

So first stuff, can you list out all possible options for Transaction type. (Transfer, Withdrawal, Fund Wallet, etc).

alright sir

Modified
Transaction types are
TRANSFER
WITHDRAWAL
AIRTIME
FUND_WALLET
FUND_TRANSFER
CARD_TRANSFER
BILL_PAYMENT

airsaylongcome:


Also for column C (Status) are the values either completed or failed only?

yes sir, it can either be completed or failed

airsaylongcome:
Are there any other options there?

No sir

airsaylongcome:
Is there a charge when the transaction fails?

No charges on failed transactions sir.

Emeskhalifa:

alright sir

I will be back to modify ths sir

There is a quick way to do it. Copy the entire Column A to a new worksheet. In that new Worksheet, select the entire column you copied then click on Data Menu (File, Home, Insert, Page Layout, Formulas, Data, Review, View, Help)

Click on Remove Duplicates. It will leave only Unique entries.

airsaylongcome:


There is a quick way to do it. Copy the entire Column A to a new worksheet. In that new Worksheet, select the entire column you copied then click on Data Menu (File, Home, Insert, Page Layout, Formulas, Data, Review, View, Help)

Click on Remove Duplicates. It will leave only Unique entries.

it is here sir

Here you go

=IF(C2="Failed",0,IF(A2="Card_Transfer",IF(B2<19999.99,20+(B2*0.05),120),IF(A2="Withdrawal",IF(B2<19999.99,B2*0.05,100),IF(A2="Transfer",20,0))))

Type this in E2 and fill down.

In this formula, I have assumed the following

Column A: Transaction Type
Column B: Amount
Column C: Status
Column D: Charges
Column E: POS Charges

airsaylongcome:
Here you go

=IF(C2="Failed",0,IF(A2="Card_Transfer",IF(B2<19999.99,20+(B2*0.05),120),IF(A2="Withdrawal",IF(B2<19999.99,B2*0.05,100),IF(A2="Transfer",20,0))))

Type this in E2 and fill down.

In this formula, I have assumed the following

Column A: Transaction Type
Column B: Amount
Column C: Status
Column D: Charges
Column E: POS Charges

thanks so much sir.
let me post an image of the result, some of the result I think need to be checked sir

Emeskhalifa:


thanks so much sir.
let me post an image of the result, some of the result I think need to be checked sir

Let me have another look at it. I see some errors

Okay I've seen the error. Look through the formula, I used 0.05 (5%) instead of 0.005 (0.5%). So replace every occurrence of 0.05 with 0.005

this is what the formula looks like when I opened it

omg it worked

I knew I was not wrong when I referred to you as a wizard.
I don't know if I can ever stop thanking you or if I even deserve this from you, but I want to say thank you so much for this, I will never forget this sir. I really appreciate and I wish you would agree to be my mentor.

Emeskhalifa:
omg it worked

Happy to hear that.

But Ọmọ...is this the profit margin in Agency Banking!

Your lowest profit is like 50%. I'm even seeing 95% gross profit!

airsaylongcome:


Happy to hear that.

But Ọmọ...is this the profit margin in Agency Banking!

Your lowest profit is like 50%. I'm even seeing 95% gross profit!

lols there is money in the business to be frank it is more of a game of numbers. if you don't make plenty of transactions daily, you may end up going home with just 2k

but here is my strategy, open as many outlets as my small money can (it is one of the reasons why I am looking for the easiest method of record-keeping) I currently have 5 locations and make a minimum of 20k daily from Monday to Saturday. somedays we make up to 50k from all locations combined and I don't have to be at all the locations. I just put people there to run it for me while I stay back at home and record everything dey do and we meet in the evening to do check and balance.

my only problem is it doesn't have a future. what happens if tomorrow another government comes and abolishes it? what will I do? I don't have any skills. By November, I will turn 30, I will let my fiance manage the business while I move to Lagos to enroll in HiTT so I can study data analysis.

airsaylongcome:

Happy to hear that.
But Ọmọ...is this the profit margin in Agnecy Banking!
Your lowest profit is like 50%. I'm even seeing 95% gross profit!

I don finally catch u. Wetin be Agnecy?

airsaylongcome:
Here you go

=IF(C2="Failed",0,IF(A2="Card_Transfer",IF(B2<19999.99,20+(B2*0.05),120),IF(A2="Withdrawal",IF(B2<19999.99,B2*0.05,100),IF(A2="Transfer",20,0))))

Type this in E2 and fill down.

In this formula, I have assumed the following

Column A: Transaction Type
Column B: Amount
Column C: Status
Column D: Charges
Column E: POS Charges

thanks so much, boss.
coming to column D (the column that contains the charges I collect from customers, can we do an autofill for it? in the sense that if I put amount withdrawn or deposit, or card_transfer, or bill-payment, or airtime it automatically fills the column D (which is the charges I collect from customers)

For example, my charge for withdrawal of 5000 is 100. if I put 5000 can it automatically fill the charges column with 100 without me having to type it there myself? could that be possibly done?

Nostradamus1:

I don finally catch u. Wetin be Agnecy?

Lol! I never ever said I was above mistake and I'm happy you found one. My issue has always been incorrect use of words and spelling. Anyone looking at "Agnecy" will know it's a typo. I also often incorrectly spell "the" as "teh". But "Are my to let them go?" is anything but a typo. Good point your pointed my incorrect spelling.

Emeskhalifa:




thanks so much, boss.
coming to column D (the column that contains the charges I collect from customers, can we do an autofill for it? in the sense that if I put amount withdrawn or deposit, or card_transfer, or bill-payment, or airtime it automatically fills the column D (which is the charges I collect from customers)

For example, my charge for withdrawal of 5000 is 100. if I put 5000 can it automatically fill the charges column with 100 without me having to type it there myself? could that be possibly done?

Sure. Do you charge only for withdrawals? Are you here any charges for the other transaction types?

For withdrawal I know the bands are

₦1.00-₦5,000.99= ₦100.00
₦5,001-₦10,000.99 = ₦200.00

Are there any other bands?

airsaylongcome:


Sure. Do you charge only for withdrawals? Are you here any charges for the other transaction types?

For withdrawal I know the bands are

₦1.00-₦5,000.99= ₦100.00
₦5,001-₦10,000.99 = ₦200.00

Are there any other bands?

let me put them in an excel sheet
Sir airsaylongcome I have MODIFIED it and added an image of what the charges for each transaction type looks like.

Sir Airsaylongcome we do not charge for failed transaction

airsaylongcome:


Lol! I never ever said I was above mistake and I'm happy you found one. My issue has always been incorrect use of words and spelling. Anyone looking at "Agnecy" will know it's a typo. I also often incorrectly spell "the" as "teh". But "Are my to let them go?" is anything but a typo. Good point your pointed my incorrect spelling.

Definitely a typo but allow me win this one.
Na grammarnazi be next.

Emeskhalifa:

let me put them in an excel sheet
Sir airsaylongcome I have MODIFIED it and added an image of what the charges for each transaction type looks like.

Looking at the spreadsheet, are you saying if I withdraw say ₦8,500 your charge is ₦100?

Nostradamus1:

Definitely a typo but allow me win this one.
Na grammarnazi be next.

Hahaha! You win!!
Just means I have to "Waka" with sense on these Nairaland streets... As I dey knack people head, people dey wait to busrt my own

airsaylongcome:


Hahaha! You win!!
Just means I have to "Waka" with sense on these Nairaland streets... As I dey knack people head, people dey wait to busrt my own

kennethfranc:

I am done. I used to type normal o. Until you came along. And yes, I double checked this before posting.

airsaylongcome:


Looking at the spreadsheet, are you saying if I withdraw say ₦8,500 your charge is ₦100?

YES. Even if you withdraw 10,000, we will take 100 naira from you

airsaylongcome:


Lol! I never ever said I was above mistake, and I'm happy you found one. My issue has always been the incorrect use of words and spelling. Anyone looking at "Agnecy" will know it's a typo. I also often incorrectly spell "the" as "teh". But "Are my to let them go?" is anything but a typo. Good point you pointed out my incorrect spelling.

Fuhrer!

These streets are hostile!

We are all fallible.

BRATISLAVA:


Fuhrer!

These streets are hostile!

We are all fallible.

As in... This one caught me "offside". Sniper fire everywhere. With laser guided bullets as soon as target is locked.

Emeskhalifa:

YES. Even if you withdraw 10,000, we will take 100 naira from you

So I'm looking at a withdrawal of ₦25k. Why is the charge you put ₦100 when given your description of ₦100 for every ₦10k there's a ₦100 charge. Should it not be
₦10,000 - ₦100
₦10,000 - ₦100
₦ 5,000 - ₦100

Should give
₦25,000 - ₦300

Or am I wrong?

(In other news, we dey roast for this Lagos. People charge ₦100 for every ₦5k here)

airsaylongcome:


So I'm looking at a withdrawal of ₦25k. Why is the charge you put ₦100 when given your description of ₦100 for every ₦10k there's a ₦100 charge. Should it not be
₦10,000 - ₦100
₦10,000 - ₦100
₦ 5,000 - ₦100

Should give
₦25,000 - ₦300

Or am I wrong?

You are absolutely correct sir!!!

in fact, N20,001 is N300 while N20,000 is N200

airsaylongcome:
(In other news, we dey roast for this Lagos. People charge ₦100 for every ₦5k here)

na hin be say first thing I'd do once I get to Lagos by November na to open POS outlet before heading to HiiT be that

Emeskhalifa:


You are absolutely correct sir!!!

in fact, N20,001 is N300 while N20,000 is N200

In D2,
=IF(OR(C2="Failed",A2="Airtime",0,IF(C2="Bill_Payment",IF(B2<=10000,100,200),IF(C2="Card_Transfer",ROUNDUP(IMDIV(B2,10000),0)*200,ROUNDUP(IMDIV(B2,10000),0)*100)))

Emeskhalifa:

na hin be say first thing I'd do once I get to Lagos by November na to open POS outlet before heading to HiiT be that

Na to find correct location. And know say Lagos na jungle. I know location wey like Four Agency Banks dey around within 2 metres of each other


Sorry to be putting your business analytics out here o, but the Gross profit margins I'm looking at, are phenomenal! Nobi here at all at all!

airsaylongcome:


In D2,
=IF(OR(C2="Failed",A2="Airtime",0,IF(C2="Bill_Payment",IF(B2<=10000,100,200),IF(C2="Card_Transfer",ROUNDUP(IMDIV(B2,10000),0)*200,ROUNDUP(IMDIV(B2,10000),0)*100)))

wow!!! and it worked just like magic SIR!!!
So this particular location made a profit of 2,253 naira on the first of JUNE 2022

Emeskhalifa:


wow!!! and it worked just like magic SIR!!!
So this particular location made a profit of 2,253 naira on the first of JUNE 2022

Interesting stuff. I'm really interested in these analysis.

Quick one. Don't put the date like you have put in that spreadsheet. It can make analysis difficult in future. Instead, Create a column called Date and enter the Date there for each transaction/row.

airsaylongcome:

Na to find correct location. And know say Lagos na jungle. I know location wey like Four Agency Banks dey around within 2 metres of each other

lolz it is everywhere. even here POS are just scattered around like I said boss, na game of numbers remain wey all of us wey dey do the business dey do now

airsaylongcome:
Sorry to be putting your business analytics out here o, but the Gross profit margins I'm looking at, are phenomenal! Nobi here at all at all!

just like you helped me without knowing me, I do hope others will see this and learn from it.

thanks one more time, God bless you abundantly sir.


you sha no want make I link up with you sir you may have your reasons and I won't question that, I will keep your moniker at heart and will always seek for your help sir. also when I enter Lagos for my training, will notify you sir. Thank you very much sir