I need to break down the due payment for the next fiscal into Due payment interest portion total and Due payment principal portion.
If you are on version 4.3 and above (go to https://www.margill.com/get to download) go to Reports > Personalized Reports > Record List (Customized) with Period Breaks.
1) Report template
Click on New, name your report and select the fields from the left.
In the example below I selected the Borrower Business and Loan ID to identify each loan.
Then I selected, under the “Interest” theme, the “Interest Accrued (for period)”. We call it “Accrued” but in fact, for projections it is TO BE accrued. I will rename my column header to “Interest – Forecast” (see below).
Finally, select, under the “Principal’ theme “Principal Accrued (including any transaction on the report Start Date)(for period)” – renamed to “Principal – Forecast”.
Report template is now complete.
2) Actual report
First select the desired Records from the Main window and go to Reports > Personalized Reports > Record List (Customized) with Period Breaks.
This report will break down the principal and interest by month, quarter or year. So you can do short and long term projections – short term for 12 months broken down by month and short/medium/ long term over 5 years.
Now run the report which may take few minutes (thousands of calculations are done!). You then get results that can be shown in a variety of ways (horizontal, vertical and summaries). You can even show Totals.
Summary view below: