How to setup weekly or biweekly payments

Question:

How to setup weekly or biweekly payments in Margill Loan Manager?

Answer:

When creating a new record, set up the Period of Payments at ”By day(s)” and input 7 for weekly or 14 for biweekly payments.

We also suggest that you setup the Compounding Period to match the Period of Payments.

Why am I not getting the right amount of interest for a month?

Question:

Why am I not getting the right amount of interest for a month?

I’ve created a payment schedule for my client for a $250,000 loan with these dates (my date format is Day/Month/Year, so the first payment is one month after May 5). Read more

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