Setting the Payments of Debt Schedules

Payments are reductions of principal. Use Payments to schedule payments to the principal. You can schedule payments at intervals or set dates and amounts. You can set payments as currency values or as percentages of the principal.

  To set debt schedule payments:

  1. Access Debt Scheduler.

    See Defining Debt Schedules.

  2. Select Payments.

  3. In Frequency, select an option to define the frequency of payments:

    • Balloon

      The amount is paid on the last day of the debt schedule.

    • Annual, Semi-Annual, Quarterly, Monthly

      These options define periodic payments.

    • Schedule

      Use the Scheduled Payments grid to define payment dates and amounts.

  4. In Payments are in, select an option to define payments:

    • Currency

      Payments are calculated and displayed as currency values.

    • Percent

      Payments are calculated and displayed as a percentage of the principal.

  5. In Total Payments and Amount Remaining, verify the number of payments.

    Displays the number of payments and the amount of the principal paid, and the amount remaining unpaid.


    You need not schedule all payments in a debt schedule, as the remaining balance is paid on the last day of the loan.

  6. Under Recurring Payments, define the amount and day of each debt payment.

    • In Amount, enter a value for the amount of the recurring payment.

      This is the amount of money paid on the specified dates or time intervals. The value here is determined by the Payments are in option.

      • Currency

        If Currency is selected in Payments are in, the text below Amount displays the scale of the currency, and values are in currency.

      • Percent

        If Percent is selected in Payments are in, the text below Amount reads ‘Percent’, and values are as a percentage.

    • In Day of the Month for Payments, select a day to make payment. Debt Scheduler needs the actual payment day to calculate interest:

      • Issue Day

        The payment day is same as the day of issuance. For example, quarterly payments made on a debt issued on June 8 are paid on September 8, December 8, March 8, and June 8.

      • Last Day of the Month

        All debt payments occur on the last day of the month.

      • Specified Day of the Month

        If a contract specifies a date within each month on which payments should occur, but the date on which the loan is issued does not fall on the specified day, select this option.

        For example, if a loan is issued on April 7 but payments should occur on the 15th of each month, use this option to specify the 15th.

        With Specified Day of the Month, enter the payment day of the month in Payment Day .

  7. Optional: In the Scheduled Payments grid, create payment dates and amounts.


    If you select Schedule in Frequency, you must define the date and amount of those payments in the Scheduled Payments grid.

    To use the Scheduled Payments grid:

    • Click the Create.

    • In the Date column, enter a date.

      You enter values directly from the keyboard, click the scroll arrows, or click the down arrow to use the calendar tool

    • In the Amount column, enter a payment amount.

    • To delete a payment, select a row and click delete.

    • To reorder a payment, select the row and click the up or down arrow.