The Loan Amortization dashboard is a repository for all your client's loan schedules. The  "Rate"  is compounded monthly, on the payment due date. This method approximates figures the lender might calculate. There can be differences and these differences are due to a variety of factors, such as a first payment date more or less than a month after the loan date; the lender might compound interest over a different period, such as daily; etc. If you suspect this is the case, "Calculate for...Rate" which produces an accurate amortization schedules.

The Loan Amortization dashboard is a main form with three tabbed sub forms, as follows: Annual Schedule, Monthly Schedule  and Journal Entry.

A video on this Help Topic is available on our Video Page.

   

Use the Engagement Documentation dashboard to associate client documents and notes with objects in BalanceWare.

Notes and documents can be linked to the following items (on a per client basis):

• Any journal entry (no icon, double click on preparer notes instead)
• Any cash disbursement batch (no icon, double click on preparer notes instead)
• Any other document (using the Documents button from the Client tab)
• Any BalanceWare form (using the icon, below)

 Look for the Engagement Documentation icon on BalanceWare forms.

 

Clicking the icon will open the Engagement Documentation dashboard. In the case of journal entries and cash disbursement batches, double-clicking on the Preparer Notes field accomplishes the same. Once open, click on any attachment to open the document.

Engagement Documentation Dashboard (with callouts)

See the Review Notes button on the Client Tab for reviewing notes from all sources within BalanceWare. 

Note: to maintain link integrity, do not manage documents from Windows Explorer. Moving or deleting client documents may break links. Documents can be edited and documents can be added using Windows Explorer, but do not delete or move documents or folders. Broken links will be placed in a special folder in the Documents treeview called "Orphans" and can be relinked from this special folder.

Main Form - Loan Terms

Lender, Borrower, Security and Journal Entry Accounts are optional fields. The Initial Pmt date is required. The remaining fields (4) are the terms of the loan and 3 out 4 are required, while selecting the 4th in the Calculate for option box.

The Fiscal Year Schedule Totals, when checked, will display totals in the Annual Schedule and the Monthly Schedule according to the client's fiscal year instead of a calendar year. The checkbox does not affect the automatic journal entry. After completing the Loan Terms click on the Calculate button or press F12.

BalanceWare will create a journal entry to bring the trial balance in-agreement with the schedule at year-end and optionally record the interest expense if an account number is assigned to Interest Expense. Journal Entry Accounts can be made for a Short-Term Liability account or a Long-Term Liability account or both.

Annual Schedule Tab

The first tab on the Loan Amortization schedule is the annual schedule. The schedule is displayed according to the Fiscal Year Schedule Totals check-box on the main, Loan Terms, form.  The schedule can be printed via the Print button or pressing F11.

Loan Amortization with Annual Schedule Tab

Monthly Schedule Tab

The second tab on the Loan Amortization schedule is the monthly schedule. The schedule is displayed according to the Fiscal Year Schedule Totals check-box on the main, Loan Terms, form.  The schedule can be printed via the Print button or pressing F11.

Loan Amortization with Monthly Schedule Tab

Journal Entry Tab

This tab creates a journal entry to bring the Adjusted Trial Balance into agreement with the Loan Amortization Schedule. Optionally, interest expense can be posted in this journal entry as well. Press the Post JE button or F3 to open a Journal Entry with the amounts pre-populated. In a perfect world, if posting Interest Expense, this journal entry will balance. If not, the entry is open and ready to be balanced.

Loan Amortization with Journal Entry Tab

Support Ticket 

Submitting a support ticket is the best way to expedite your issue. The support ticket automatically includes information we need to service your installation properly. By submitting a support ticket, we won't have to ask you all the preliminaries and, if you add a brief description, we will be better prepared to get to the heart of the matter ! We receive your ticket immediately upon submission and will respond ASAP; usually within minutes. Submit your support ticket from the About form on the Help tab.

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