The accounting rule acts as a folder that houses or contains all the different amortization rules. Eagle Accounting, as part of the installation process, creates the accounting rules shown in the following table.
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Rule | Description |
|---|---|
DefaultEY | Constant Yield Amortization |
DefaultEYAmortAtDisp | Effective Yield Amortization with Amortization at Disposition |
DefaultSL | Straight Line Amortization |
DefaultSLAmortAtDisp | Straight Line Amortization with Amortization at Disposition |
DefaultSLA | Straight Line Actual Amortization |
DefaultSLAAmortAtDisp | Straight Line Actual Amortization with Amortization at Disposition |
DefaultNone | No Amortization |
DefaultNoneAmortAtDisp | No Amortization with Amortization at Disposition |
The first step in setting up amortization in Eagle Accounting is the creation of the accounting rule for amortization.
In the Create Accounting Rules panel, you can add accounting rules for use with amortization/accretion rules or for use with unrealized gain/loss (URGL) rules.
To create an accounting rule for amortization:
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The system creates an instance number for the accounting rule (instance tag 4629) that serves as the primary key for the accounting rule.
You are ready to add the amortization/accretion rules for the accounting rule.
You can also edit, delete, list, and list the history of established accounting rules. The system does not allow you to delete an accounting rule that has an underlying amortization rule.