Loans 2000: handles multiple loan account calculations, part amortizations

Software : Finance : Loans Amortization Manager

Loan Amortization Manager

The program is popular. Unlike other amortization programs Loans 2000 handles multiple loan account calculations, part amortizations, changing amortizations and historical adjustments in any period for any loan.

Loans 2000 provides on demand flexible, adjustable amortization schedules for as many loan accounts as you wish to create. The Software recalculates loan balances at any period at any time after posting a repayment, missed payment, part repayment, new loan addition, additional expense, early repayment, change of interest rate, change of repayment. Amortization schedules can be developed with changing rates, repayments, balloons, new term limits and accelerated repayments. Loan calculators give repayment data for any loan or mortgage on any interest rate basis. Advanced features include monthly reporting, negative amortization alerts and repaid amount percentage monitor. Loan files containing multiple account data can be shared across networks and emailed to other computers. Most amortization programs are limited to fixed repayment schedules, but Loans 2000 provides any variation of schedule within any loan repayment calculation. Includes Save, Print and Password Protection features. Mortgage 2000 provides multiple home mortgage math forms. More details in the More Info sections below. Disk space required for installation 8 MB per program.

Additional Information

With Loans Amortization Manager you can create any loan repayment schedule in the Add Loan tab. Once you have saved your account (Save New Account button) you can recall your amortization schedule at any time in the Loan Records tab and the Amortization tab.
You can maintain continuing records of any loan or lease repayment account, update periodic payments, enter irregular early repayments, change interest rates, repayment amounts and update balances through the Loan Records tab.
You can check the interest and repayments between periods.
You can run repayment schedules in the Amortization tab.
You can check new repayment amounts for any loan, any rate and any remaining term in the Repayments tab.
The program handles split loan repayments, partial loan repayments, added costs and new loans added.
Loans Amortization Manager works in US and Canadian mode.
Loans Amortization Manager files can be shared between nominated users, each user has their own login ID.

Guidance: Use the page tabs to move backwards and forwards between screens. Your Back and Forward browser controls are not programmed to handle data forms.

Screenshot of Menu

loan.gif (5632 bytes)

Loan Amortization Manager solves this frequently encountered problem concerning late or missed repayment calculations:

Example: Liz buys a car on credit terms and pays 3,750.00. Purchased on 9-29-03 and she applies 650.00 down. Interest rate is 10.00% p.a. Now on 10-15-03 she pays an additional 600.00 and agrees to pay the balance at 169.91 per month on the 15th of each month until paid, however she does not do as agreed and her payment comes in on the 29th of the month.

How can I inject a penalty or late fee into the balance owed and recalculate the balance including the penalty and additional interest due to the extra days used?

Solution:

Enter the Add Loan tab.
Enter Loan Principal	= 3,750.00
Enter Account	= Liz Loan
Memo	= Auto Loan
Calculation rules	= US
Interest Rate Calculation	= Daily
Repayment Plan	= Monthly
Repayment Term	= 30
Starting interest rate	= 10.00%
Interest type	= Nominal
Start Schedule	= September 29, 2003
Daily interest Basis	= 365 days/annum
Repayment amount	= 169.91
Option	= Memo column required
Click Save new account.	= Click Save new account.
Move to Loan Records tab.
Select	= Liz Loan
Create table with	= 30 periods (Click Create table button).

Look at the table you have created by scrolling down the screen.

Click Insert button.
Enter 650.00 as an early repayment on 09/29/2003 in the new row that appears.
Look at the table again.
Click Edit in the newly formed blank row.
Enter a repayment of 600.00 in the Repayment column on 10/15/2003. Click Enter.
Look at the table again.
Click Edit in the new blank row.
Enter the date of the missed repayment 11/15/2003 and enter 0.00 into the Repayment column.
You will see the message in red and the unpaid interest amount. Click the Cancel this message button.
The unpaid interest is charged to the loan balance.
Look at the table again.
Click Edit in the new blank row.
Enter a date 11/29/2003 and the repayment amount of 169.91. Click Enter.
The balance is updated.
Remember to click Save Changes OTHERWISE YOUR ENTRIES WILL BE LOST WHEN YOU CLOSE THE PROGRAM.

Add Loans

New Loan Account Details

Account Name:

Attach Memo:

Calculation Rules:

	US Monthly Rules

	Canadian Semi Annual Rules

Loan Principal:

Interest Rate Calculations:

	Period Interest Rules

	Daily Interest Rules

Repayment Plan:

	Weekly			Two Monthly

	Bi-Weekly			Three Monthly

	Four Weekly			Six Monthly

	Monthly			Annual

Repayment Term:

Periods

Starting Annual Rate:

9.999

% Per Annum (locked in demo version)

Interest Type:

Nominal (locked in demo version)

Start Schedule Date:

Daily Interest Basis:

	365 Days/Annum Daily Interest Rate

	360 Days/Annum Daily Interest Rate

Repayment Amount:

Per Period

Options:

Memo Column Required

Tax Credits:

	Include In Schedules

Tax Rate:			%		Limit:

Tax Year Ends:

Security:

Lock Account Terms

Loan Records

Loan Terms

Memo:

Loan Principal:

Nominal Interest Rate:

11.755