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amortization schedules in BC for loans taken or made?

  • 1.  amortization schedules in BC for loans taken or made?

    GOLD CONTRIBUTOR
    Posted 26 days ago

    Looking for advice on modules or 3rd parties to help track amortization schedules in BC for loans both taken out and loans made



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    Benji Jasik
    Generate Capital
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  • 2.  RE: amortization schedules in BC for loans taken or made?

    NAVUG ALL STAR
    Posted 25 days ago

    Benji,

    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.

    Thanks,

    Steve



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    Steven Chinsky
    Manager
    Wipfli
    Mansfield MA
    NAVUG/BC Programming Committee Member
    NAVUG All-Star, Granite Award Recipient, MCP, DCMP
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  • 3.  RE: amortization schedules in BC for loans taken or made?

    NAVUG ALL STAR
    Posted 25 days ago

    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.



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    Robb Delprado
    Senior Trainer and Consultant
    New View Strategies
    robb@newviewstrategies.com
    860.558.8032
    Houston, TX
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