Amortization Schedule

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Amortization Schedule

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Access this screen by clicking on Sales, then 3 – Amortization Schedule.

 

Amortization

 

An Amortization Schedule is a table detailing each payment and shows what portion of the payment goes towards principle and what portion goes towards interest.

 

The Amortization Schedule will display the amount financed, finance charge and beginning balance as well as the interest method used. The principal remaining, interest remaining, and total balance remaining are also listed after each payment. There is also an option to print subtotals for each calendar year.

 

It is important to understand that this report does not change over time.  If a customer varies from the Amortization Schedule by paying more or less than the agreed payment amount, or by paying early or paying late, the effects of that are NOT displayed on the Amortization Schedule.