4.7.2 Amortized Balances

With the Amortize Balances sub screen, user can select one or more balances to be amortized over the life of the Lease. User can also define the amortization method.

To set up the Amortization Balances
  1. On the Setup, click Setup. Under Setup, click Administration. Under Administration, click User.
  2. Under User, click Products. Under Products, click Contract. Under Contract, click Lease. Under , click Amortized Balances.

    The Amortized Balances screen displays.

    Figure 4-8 Amortization Balances


    Description of Figure 4-8 follows
    Description of "Figure 4-8 Amortization Balances"

  3. In the Amortization Balances section, perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 4-20 Amortization Balances

    Field Description
    Amortize Balance Type Select the amortize transaction type from the drop-down list.
    The available options are:
    • Prepaid Fees
    • Producer Fees
    • Interest
    • Compensation
    • Rent
    • Depreciation
    • Compensation Remaining
    • Commission Insurance
    • Commission Extended Service Contract
    • Subvention
    Amortization Method Select the amortization method used to calculate the net amortization amount from the drop-down list.
    Cost/Fee Method Select the amortization cost/fee method.
    Sort Specify the sort sequence to define the order of the amortize balances.
    Enabled Check this box to enable the amortize balance to be created when the account is booked and funded.
  4. Perform any of the Basic Actions mentioned in Navigation chapter.

This section consists of the following topics:

Parent topic: Contract