CommunitySuite Idea Lab
6 results found
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Automatic Loan Amortization Schedule
When making a new loan, could you all look into having the system generate the amortization schedule based on the input of interest rate, number of payments and principal amount? It would be great if it could then recalculate future payments based on any lump principal payments during the life of the loan too. Right now, we have to have an amortization schedule separate in excel and then import/type in the payment schedule manually. Any changes require editing all the scheduled payment lines.
6 votes -
loan payment receipts
We would like the option to supply a loan payment receipt that would show the total principle of the loan left to pay. Right now there is no option in Csuite to create payment receipts for any type of payment.
4 votes -
Loans: Invoice Date vs. Due Date
Currently, loans have only one date, a payment date. The system won't let us invoice any loans until the payment date. We need to invoice a few of our monthly loans to remind them to pay, which we typically want to mail at least a week in advance. This makes it difficult in the system if we want the payment date to match our "due date" on the amortization schedule.
Could either 1) another date field be added for a due date or 2) could loans be allowed to be invoiced prior to the payment date?
3 votes -
Lump Payments
Could we add a feature to loans where we can record a lump principal payment? Right now, you have to manually go and delete any future payments and then add a new line in the payment schedule for the lump principal payment. It's super time consuming and manual the way it currently is set up, especially if it's a loan with a lot of payments. Additionally, it removes the historical data of when the loan was originally going to be paid, interest totals etc.
2 votes -
Recurring Debt/Loan/Mortgage Payments
We recently started using the loan module for loans that we've made to individuals. It's saved so much time to not have to make manual entries for interest/principal when we invoice the loans.
The ease of this made us wish a similar feature for debt/loans that we owe. Could functionality be added for debt that we owe to have recurring loan/debt/mortgage payment vouchers generated based on an amortization schedule? This would cut back on manual data entry for these payment vouchers. It also would be great to track the total principal owed on our debt like the Loan module tracks…
3 votes -
Loans Amortization Table
It is critical that we can print an amortization table when we set up a loan with defined interest rates and terms.
5 votes
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