About Unscheduled Variable Rates

You can set a security's Coupon Type Code field to a value of Unscheduled Variable Rate. You can use an Unscheduled Variable Rate coupon type when the coupon schedule of a bond cannot be calculated based on fields that derive the payment frequency, such as Payment Frequency, Payment Timing of the Month, and Day of the Month Override. When you encounter a security such as this, you need to set up the security as an Unscheduled Variable Rate coupon type.

The Unscheduled Coupon Type field allows you to enter a rate, date, and a cash movement flag in the Variable Rate table. Each time a rate and date is entered in the Variable Rate table with the Cash Movement Flag field set to Yes, Eagle Accounting drops a coupon payment. An example of a security that should be set up with an Unscheduled Variable Rate Coupon Type is a security that changes payment frequency over the life of the bond, or a bond that has a First Coupon Date that is not the normal expected day that the bond pays in the future. For more information, see Understand Variable Rates for a Security.