LOAN MANAGER – CALCULATIONS

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).

Accounting

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