Complete
monthly processing
• Copy data columns
from your spreadsheet and
Paste to the software.
• Calculate amortization
as of any period
Current period
Prior period or prior year end.
Future period or future calendar, fiscal year end.
• Trial Balance
Report with
Amortized expense and totals.
Amortized income and totals.
Accumulated.
Balances for balancing to your general ledger.
• Journal Voucher
source document posting report.
Supports any general ledger chart of accounts.
• General ledger
upload posting file.
• Allocate:
Expense to multiple general ledger branch, cost centers.
Income to revenue centers.
• Documentation
to handle exceptions.
Additional payment, refund, shorten term, immediate write-off
• Archive monthly,
annual calculation results, send to auditor.
File options
• Keep your existing spreadsheet(s).
• Use an Excel template that comes with
the software.
• Amortize, allocate
subsidiary schedules for
Assets, Liabilities, Expense, Income and Reserves.
Allocating
Allocate amortization to branch, department,
cost center accounts.
- Allocate selected
records, allocate all records.
- Allocate using
one or more Methods maintained by you in the software, such as:
- Same percentage
to each branch (evenly).
- Percentage you've
determined.
- Varying percentage
by branch and which branches are included.
- Workstation
count, number of employees, square feet, revenue, other.
- Unlimited methods
of any type that can be expressed as numbers.
- Share a method
between records and different general ledger accounts.
- Allocating is
simple:
Merely
substitute the cost center portion of a general ledger account number with
a Method.
Cost
centers can be located at the beginning, middle or end of an account number.
Cost
centers also refer to branch numbers, revenue centers, RCs, other.
Amortization Methods
Method: Straight line, same amount each
month
Accounting periods: Monthly
| Example:
$1,200.00 for 12 months = $100.00 per month |
Method: In service, actual days in month,
partial first and last months
Accounting periods: Monthly
Example:
$610.00 from June 15, yyyy to August 15, yyyy
June = $160.00, July = $310.00, August = $140.00 |
Method: In service, date to date, non-monthly
Accounting periods: Day, days, week, weeks,
4-4-5 and any other date to date period
Example:
$365.00 for a term of 1 year
Amortization for a bi-weekly accounting period
= $14.00 |
Method: Accelerated sum of the years digits,
Rule of 78s for any term in months
Accounting periods: Monthly
Example:
$345.00 from June, yyyy thru August, yyyy
June = $172.50, July = $115.00, August = $57.50 |
Method: Effective interest rate
FASB 91 page
for Loan fees, Bond premiums and discounts
. |
