The Amortization tool is where loan repayment schedules are prepared.  Access this tool via Tools > Amortization.  Loan repayment schedules can be: calculated, printed, or saved for future viewing in the Report Viewer.


Calculating an Amortization Schedule


    1. From the Tools menu, choose Amortization.
    2. In Schedule Title, enter a title to display at the top of the Amortization Schedule.
    3. Enter the original amount of the loan in Loan Amount.
    4. In Amortization Periods enter the number of payments made over the life of the loan. For example, if the loan is for two years, and monthly payments are required, enter 24 for the amortization periods.
    5. Enter the number of payments made each calendar year in Payments Per Year. The application accepts up to 52 payments per year.
    6. In Annual Interest, enter the annual interest amount for the loan. The interest for each monthly period calculates automatically. If the interest is unknown, and the payment amount is known, leave the annual interest field blank.
    7. Enter Payment Amount if the payment per period is known and the annual interest is not known.
    8. From the Payment Type drop list choose one of two payment types: Fixed Payment and Fixed Principal. The default is Fixed Payment.
    9. Use the Date of First Payment drop calendar to select the date on which the first payment for the loan is due. This is used to determine the dates for subsequent payments.
    10. Click Calculate. The amortization is created and is displayed.


Printing an Amortization Schedule


    1. Use steps 1–10 of Creating an Amortization Schedule.
    2. Review the schedule.
    3. You can print the full amortization by selecting All Dates, or select a date range using select Begin and End Date and selecting dates from the drop lists. If a date range is entered, only that section of the amortization prints.
    4. Click Print Schedule. A "Print" dialog box opens, in which you can choose Printer, Tray, Number of copies, and other settings.
    5. Click Print, or click Cancel to return to the Amortization dialog box.


Saving an Amortization Schedule


    1. Use steps 1–10 of Creating an Amortization Schedule.
    2. Review the schedule.
    3. Click Save Schedule. A "Save Amortization Schedule" dialog box opens.
    4. Enter an eight-character file name. Do not use characters other than text or numbers.
    5. Click OK. The schedule is saved and is viewable from the Report Viewer.