Debt schedules can be added to the debt obligation header record manually or via an import. This article contains step-by-step directions for both processes.
⏰ Estimated Time: 10-30 minutes
Add a Debt Schedule Manually
✏️ Note: Adding a debt schedule manually, one item at a time is recommended for very short debt schedules.
- Click the name of the Debt Obligation Header you wish to add the Debt Schedule to manually.
- Click + Debt Payment Schedule ribbon to expand.
- Click + Add to enter the first debt schedule record.
- Enter the data from the first line of the payment schedule into the Add form.
- Click Save.
- Repeat the process for each line of the debt payment schedule.
- After entering the last line of the debt payment schedule, the totals displayed by the system should match the totals on the original debt payment schedule.
Add a Debt Schedule via Import
✏️ Note: Adding a debt schedule via import is recommended for long debt schedules, over 10-15 lines of payments.
- Click the name of the Debt Obligation Header you wish to add the Debt Schedule to via import.
- Click the Add Schedule button.
- Enter the start date, end date, months between payments, interest rate and principal amount into each of the respective fields from the original debt schedule document.
- Click Save.
✏️ Note: Debt schedules vary significantly from one obligation to another. They could have standard or non-standard payments, standard or variable interest rates, etc. The Add Schedule wizard was originally created for debt schedules with fixed payments and interest rates. If the debt schedule contains principal payments, interest rates, and interest payments that vary, enter the most frequent rate or first rate into the Add Schedule wizard. You will be able to edit this at a later time during the import process.
Any debt schedule can be imported into the Munetrix system using this process.
- The Add Schedule wizard will generate a framework for the debt payment schedule based on the initial inputs provided.
- Click the Import Schedule button.
- The debt schedule framework generated by the Add Schedule wizard will download to in CSV file format. Look for an export file in your browser or computer downloads folder.
- If the original debt payment schedule is in spreadsheet or text format, copy and paste the data so that it aligns with the correct payment dates, for each respective column. If the debt schedule is in PDF or image format, enter the values into each of the columns to align with the correct payment dates.
- The balance does not need to be populated as the system can calculate this after the data has been imported.
- Save the export file with the updated data to your desktop or a folder on your computer
- Click the Import Schedule button.
- Select the export file with the updated data.
- Click the Import Schedule button.
- The debt schedule will update with the imported data.
🛠️ Tip Toolbox:
- The import file must be saved in CSV format.
- The Due Date and Interest Rate fields must be populated in the import file. If an interest rate field is to be left empty, enter a 0 in the field.