Round Payment Schedule

General

LoanPro offers many options to accommodate many loan types.  We also try to make it as easy as possible to move loans to LoanPro from other systems.  To accommodate this, it is possible in LoanPro to add or subtract an amount from the end of a payment schedule to help match a payment schedule generated by a less sophisticated system.

When you enter a round amount, the amount will be removed from the payment schedule, starting with the final payment.  The interest portion will be eaten first, then discount, then principal.  It is preferable that the principal portion of the repayment schedule remain intact insofar as that is possible with the round amount you enter.

How To

There are tools called  smooth and  force that utilize the payment schedule round.  You can also enter a round amount yourself.  This can be done inside of Account Setup > Setup Terms > Advanced Configuration inside of any customer account.

To add an amount to the payment schedule, enter a positive number into the Schedule Round field, otherwise, enter a negative amount.  Click Save & Calculate to incorporate your round into the calculated payment schedule.  You are done!


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