Create an Amortization Schedule Override based on a Schedule

Owned by Nancy Cohn (Deactivated)
Last updated: Nov 22, 2023
2 min read

In the Create Amortization Schedule Override panel, you can add a user defined amortization schedule based on a premium amortization schedule for an Identified Cost portfolio.

When you create an amortization schedule override, you can base it on either a price or a percentage, but not both. If you create a user defined amortization schedule based on a price or schedule, you cannot also use the user defined yield for the same lot.

When you create a user defined amortization schedule based on a schedule amount, the entire schedule must total 100 percent. Eagle Accounting amortizes from Settlement Date to first Effective Date, then from the first Effective to the second Effective Date, and so forth, to the last date in the schedule. After the schedule is complete, Eagle Accounting amortizes the percentage specified in the amortization method used in the amortization rule to the specified date. If a user defined schedule ends before Maturity Date, Eagle Accounting does not amortize between the end of the schedule and the Maturity Date. Note that OID processing is not allowed when setting up a schedule.

To create an amortization schedule override based on a schedule:

  1. Do one of the following:
    - In Portfolio Data Center, in the left navigation pane, click Portfolio Desk > Accounting Portfolio Rules > Amortization & Accretion > Create Amortization Schedule Override.
    You see the Create Amortization Schedule Override panel.
    - In Accounting Center, in the left navigation pane, click Setup > Portfolio Rules > Amortization & Accretion > Create Amortization Schedule Override. 

  2. Set the Add User Defined Amortization Based On field to a value of Schedule.

  3. Identify the entity, security, and tax lot for the user defined amortization schedule you are adding.
    You must select an entity with a Cost Method set to Identified. You can select securities with a processing security type eligible for the amortization process. If the selected lot does not include an Amortization Schedule ID value, you must add it before you proceed. See Change the Amortization Schedule ID for a Lot.

  4. Complete the remaining options on the Create Amortization Schedule Override panel.

  5. Click Submit.

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