Loan - Schedule
- 05 Jan 2024
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Loan - Schedule
- Updated on 05 Jan 2024
- 1 Minute to read
- Print
- DarkLight
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The Loan Schedule Information page shows you the payment schedule for your loan. The Schedule page (sometimes called amortization schedule or table) is a table detailing each periodic payment for the loan. The schedule helps indicate the specific amount that will be paid each period, along with the interest and principal that will be applied with the payment. The schedule will also provide the remaining principal balance after each period.
The schedule does not account for extra or missed payments or fees associated with the loan. If your borrower makes extra payments or misses a payment, you will have the opportunity to recalculate the schedule.
The Other column
The 'Other' column on the schedule will sum payments going to Outstanding Interest, Outstanding Late Fees, Outstanding Lender Fees, and the Hold Account (Unscheduled or Regular payments using the 'Enter Manually' option will show a field for the 'Hold Account', any extra funds are auto-applied to Principal but you can delete and enter the amount into the Hold account). The two screenshots below will show how an overpayment would apply to Outstanding fees and the Hold account - which you view through the Register by looking at the payment's Paid On date.
Update
The far-right options column now will list a 'Note' button for pay periods before the most recently recorded payment (the most recent one will be an 'Options' button) to prompt a dialog box of a previously entered 'PaymentNote' when recording a payment.
The Note option is now there to review previously recorded payment notes.
The Note option is now there to review previously recorded payment notes.
When clicking that 'Note' option, a dialog box will appear.
Then click 'Ok' to close the dialog box.
For the NSF option, refer to the main guide here.