OYMWA
July 10, 2014, 3:49pm
27
Re: Zakat minus Expenses
Peace OYMWA
There are lots of spreadsheets out there that are used like a program for calculating zakat. I can make one based on the correct calculation method … I have prepared a spreadsheet for the purpose of demonstrating how the correct calculation works not as a calculator for people’s zakat like the one you are referring to. I have sent it to some people here. There are really good calculator spreadsheets out there no need to reinvent the wheel … But as you say they are approximations and not true zakat … But because we have monthly balance on our bank statements it is really easy to do a better calculation than final balance.
If I prepare one it will only be for cash balance and not for other assets and it will not account for debts … It will need as inputs the balance figure every lunar month for the past 24 lunar months, to give an accurate zakat for the previous year. It will utilise the trapezium method for the estimation of this year and when used again for next year it will calculate the adjustment. If you want I can prepare such a spreadsheet inshaAllah, but if you want to see the other spreadsheet that demonstrates how the true zakat is calculated then I can send that to you.
The one for cash balances should be sufficient. I can plug that in as a separate sheet in my spreadsheet and have the final number for my rest of the calculation.