The PCL Prepaids Processor module has the ability to create either Automatic or Manual monthly amortizations. Manual amortizations are useful if you do not wish to amortize the same amount each month over the life of the prepaid or perhaps you want to pay a larger cost up front at the beginning of the prepaids life and less later on.
- In the Prepaids (PZ.270.00) screen, define the values for the prepay and set the Distribution option to Manual:
- Define the debit and credit breakdowns that indicate which accounts get debited and credited each month when the prepay is amortized. In the AMT/RATE field enter the percentage of the amortization that will hit each account. In the example below 100% is allocated to the debit account and the credit account chosen. The account breakdown must add up to 100 percent.
- In the Manual Distribution grid at the bottom of the Prepaids (PZ.270.00) screen, define the amount that will be amortized for each month of the prepaid's life:
- Click the Process button in the Process Prepaids (PZ.475.00) screen for the first period of the Prepaid's life to generate a GL batch for the amount defined in the Manual Distribution grid for that period.