Looking for advice on modules or 3rd parties to help track amortization schedules in BC for loans both taken out and loans made
I will give you two options... First, this addon works with BC and is available in App Source - https://appsource.microsoft.com/en-us/product/dynamics-365-business-central/PUBID.axiomprov%7CAID.api_onecore_365_loans_express%7CPAPPID.e3c79fb9-6245-421f-960a-55d25e141e77?tab=Overview
The second, I have used in the past the Fixed Asset granule to record my amortization. I know you are going to state you have principal and interest, and Fixed Asset only post to a single GL Account when Depreciation/Amortization is run, and if this is the case I break the Asset into 2 components and then amortize them separately posting to the correct account. Then create a Parent Asset to combine the 2 children, to see both. It does work but the App Source addon might be a better solution.
One other thought is the Deferred functionality in BC. I know this might give you the reporting you want but you it will record the Loan taken or made and allow you to create a deferral code to amortize in the principal and interest over the life of the loan.
Steve, I am not familiar with the app you referenced, but my initial thought was to utilize the Fixed Asset granule with each loan having two component assets to accommodate posting principle and interest to separate accounts as you suggested.
If you've found this thread useful, dive deeper into User Group community content by role