Accounts: Payment - Amortization
This screen shows the amortization schedule for the deal.
The amortization schedule combines information from the original amortization, the billing history (from the payment history), and asset adjustments made.
The Ending Balance column is simply Beginning Balance minus the Principal amount, as any amortization schedule will calculate.
The Note column is only used when (principal) asset adjustments have been made. You may edit the note information by double clicking on the note field.
The Tax Details column shows the tam amount breakdown.
If you need to change the payment due date, here is where you would do that. Click the Change Next Due Date button to begin the process. You will be presented with a calendar that is set to the current next due date. Change the calendar to the desired due date and click the button. All subsequent due dates through the end of the schedule will be changed. Days of month due must be between 1 and 31.
Payments may be deferred to the next scheduled due date. To do this, click the Defer Payment button. If this is a lease, the payment schedule will simply be moved one payment cycle. Deferments will be performed against the current due date.
The Special Circumstances Payment(s) Deferral button will allow you to do two special types of deferments:
Push out due dates and the lease end date
This option will simply push the current (or next) due date out 1 to 6 payment frequencies. The lease end date would also be pushed out by the same number of payment frequencies.
Recalculate remaining payments and keep the lease end date as is
This option will take the number of payments you are deferring, and spread them out over the remaining payments after that. The lessee's payment will increase, but they will be paying the same total amount of principal and interest over the term of the lease. Sales/use tax will properly reflect on the remaining payments.
You may only do this type of deferment once per lease. If you need to do it again, then you will need to terminate this lease and create a new one for the lessee. Also, if the lease contains non-taxable portions of the payment, then you will need to rewrite the lease.
This option is only allowed for the first unbilled payment.