Irregular Payments - account for random payments

There are several types of Irregular Payments and many ways to account for them. This discussion will describe how to account for random payments as they are applied.

• Enter the cash flow information as shown below.

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• Press [F4] or click the Amortization Schedule button to the right in your cash flow data window to see the amortization schedule report. A Rounding dialog appears as shown below.

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• For this example we are just applying payments as they come in and the loan is not being paid off, so choose Open Balance to handle the rounding amount and then click OK. Press [F4] or click the Amortization Schedule button to the right in your cash flow data window to see the amortization schedule.

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  Result: The amortization schedule shows the Interest and Principal allocations per payment, and that there is an open balance of 9,236.16.