NetClose - Creating an Amortization from Transactions
Prerequisite
Before you create an amortization for the first time, you'll need to make sure your Amortization Types are set up in NetClose.
Step by Step
Navigate to NetClose > Amortizations > Create Amortization from Transaction
You can filter the Transactions by:
- Subsidiary
- Location
- Date
- Transaction Type
- Account
Once you select a transaction that you will create an amortization from:
- Name the Amortization
- Choose a specified Amortization Type
- Set the term length for your Amortization. This field will autofill based on the amortization type, but can be changed.
If you select multiple transactions, you will have the option to create a single amortization or multiple amortizations. Creating a single amortization will combine all selected transactions into one amortization. Creating multiple transactions will create an amortization separately for each transaction selected.
After clicking "Create", the amortization will populate on the "New Amortizations" tab.
Click "Edit" or "View" to pull up the amortization record on a new tab.
Amortization Fields
Many fields will auto populate based on the transaction you are creating the amortization from, although all fields can be edited before commencing the amortization.
Primary Information
| ID | Autofilled |
| Name | Pulled from name given on previous page |
| Vendor | Autofilled from linked transaction |
| Currency | Autofilled from linked transaction |
| Type | Pulled from type selected on previous page |
| Status | Pending |
| Subsidiary | Autofilled from linked transaction |
| Department | Autofilled from linked transaction |
| Location | Autofilled from linked transaction |
| Class | Autofilled from linked transaction |
Schedule Information
| Capitalization Date | Autofilled from linked transaction |
| Term (Months) | Autopopulated based on amortization type |
| Start Date | Autofilled from linked transaction |
| End Date | Autopopulated based on start date and term. |
| Amount | Autofilled from linked transaction |
| Remaining Balance | This will be populated after the amortization schedule is ran. |
Generate Amortization Schedules
Once all information has been verified, Click "save". You may now generate the schedule for the amortization. Follow the instructions in the Generating Amortization Schedules article.