This document shows the detailed procedure of applying annuity term loan repayment.
WHY IS THIS IMPORTANT?
1. Select Transaction > Term Loan.
2. Click New. The New Term Loan menu is displayed.
3. Fill out the details as required.
4. Click Book.
5. From the Term Loan main menu, look for the transaction just booked. Click on the TradeID.
6. From the Amend Term Loan menu, click Repayment and the amend term loan repayment screen will be displayed.
7. Click on the date when the Annuity Repayment will be applied. Fields will be displayed.
8. Fill out necessary page click the Apply Annuity Repayment check box.
*Note: You will not see the Apply Annuity Repayment check box if the periodic item has been booked or if there are additional drawdown occurring subsequently.
9. The Outstanding Principal and Annuity From Date will be populated. Note that only one from the Annuity Amount and Interest Rate field can be filled out. In the example below, the Annuity Amount will be filled out.
10. Click Refresh Button. System will compute the annuity amount. Implied rate and the annuity repayments will be displayed.
11. Click Update to apply the annuity repayment schedule.
12. When the user enters an annuity amount that is too low, for example 22,000.00. An error message will be displayed.
13. To apply annuity using Interest Rate, fill out the field.
14. Click Refresh Button. The system will display the annuity amount.
15. Click Update to apply annuity.
FREQUENTLY ASKED QUESTIONS
Amend Term Loan and Repayments