RAPID PUBLISHINGRAPID PUBLISHING ARTICLES PROVIDE INFORMATION DIRECTLY FROM WITHIN THE MICROSOFT SUPPORT ORGANIZATION. THE INFORMATION THAT IS CONTAINED HEREIN IS CREATED IN RESPONSE TO EMERGING OR UNIQUE TOPICS, OR IS INTENDED TO SUPPLEMENT OTHER KNOWLEDGE BASE INFORMATION.
Information about the scheduled paymentA scheduled payment is created from a posted sales/invoice document, a debit memo document, or a service/repair document in the Receivables Scheduled Payment Entry window. To open this window, on the Transactions menu, point to Sales, and then click Scheduled Payments.
Consider the following example: If you keyed a sales document for $10,130.64, you can make it a scheduled payment in the Receivables Scheduled Payments Entry window by entering this additional information:
Interest Type: Compound
- Schedule Amount: $ 10,130.64
- Schedule Interest Rate: 20%
- Payment Frequency: Monthly
- Number of Payments: 60
Click Calculate and then click Amortization to view the 60 lines in the amortization schedule. The first 5 lines will be displayed as follows:
|Payment||Due Date||Payment Amount||Principal||Interest||Principal Balance|
First payment interest information
The following equation is used to calculate the first payment interest amount:
Interest amount = schedule amount x schedule interest rate / payment frequency
Interest = $10,130.64 x .20 /12(monthly)
Monthly payment amountThe following equation is used to calculate the monthly payment amount:
Monthly Payment amount = Principal amount
/ (1 + monthly interest rate) to the N power - 1
/ monthly interest rate X (1 + monthly interest rate) to the N power.
Note In this equation, replace the placeholder N with the number of payments.
The following example shows how the monthly payment amount is calculated:
- principal amount: $10,130.64
- monthly interest rate: 0.20/12 = 0.016667
- number of payments: 60
By using the information in this example, the following equation is used to calculate the monthly payment amount.
monthly payment amount = $10,130.64 / (1.016667) to the 60th power - 1 / .01667 x (1.016667) to the 60th power.
The payment amount in this calculation is $268.40.
Note The last payment will make a decimal adjustment on the Payment Amount if it is needed. In this example the Payment Amount for Payment 60 is $268.32 instead of $268.40. The last payment will also show the Principle Balance as $0.00 as it has been fully paid.
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THE MATERIALS MAY INCLUDE TECHNICAL INACCURACIES OR TYPOGRAPHICAL ERRORS AND MAY BE REVISED AT ANY TIME WITHOUT NOTICE. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, MICROSOFT AND/OR ITS SUPPLIERS DISCLAIM AND EXCLUDE ALL REPRESENTATIONS, WARRANTIES, AND CONDITIONS WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING BUT NOT LIMITED TO REPRESENTATIONS, WARRANTIES, OR CONDITIONS OF TITLE, NON-INFRINGEMENT, SATISFACTORY CONDITION OR QUALITY, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE MATERIALS.
Artikel-id: 968049 - Laatst bijgewerkt: 3 jan. 2015 - Revisie: 1