Fill in the column titled "Period" with your payment dates. Input the month and year for the first payment loan within cell A8.This Microsoft Excel template illustrates how to create a loan amortization schedule, as well as dealing with additional payments and variable interest rates. Microsoft Excel can help you manage your finances. Use Excel formulas to calculate interest on loans, savings plans, down payments, and more. In this tutorial we will see how to create an amortization schedule for a fixed-rate loan using Microsoft Excel and other spreadsheets. Step 1: Set up your amortization table. Open a new Excel sheet and create input cells for the known components of your loan. Microsoft Excel can help you manage your finances. Use Excel formulas to calculate interest on loans, savings plans, down payments, and more.