Once the data for a debt schedule is added to the Munetrix system, the balances can be calculated by the Munetrix system.
⏰ Estimated Time: 2 minutes
Calculate Balance on Debt Schedules
- Click the name of the Debt Obligation Header you wish to calculate the balance for on the Debt Schedule.
- Click the + Debt Payment Schedule section to view the debt schedule details.
- Click the Calculate Balance button.
- The Munetrix system will provide a warning message that the debt schedule data will be modified by calculating the balance for each date. Click OK on the warning screen.
- The system will add a column with the calculated balance amount for each date.
✏️ Note: The Calculate Balances utility assumes the sum of the principal payments will pay the obligation down to 0. The utility will sum the principal values you have entered and use this number as the starting point for calculating balances. With this assumption, it does not matter whether you have entered the entire historic payment schedule or just started from the current year. As long as you have entered all payments from the current date to the life of the obligation, the utility will calculate a balance after each payment. Any adjustments entered for a payment record will be added to the balance; therefore credits must be entered as negative numbers.