NetClose - Amortizations Overview

Overview

Amortization is the accounting process of spreading an expense or revenue across the periods in which its economic value is realized. For most teams, prepaid amortization is a recurring close task, and tracking schedules across spreadsheets makes it easy to miss entries or carry stale balances forward into reporting. The NetClose Amortizations module gives you one place to track every active prepaid, generate the monthly journals, and adjust schedules as terms change.

Video walkthrough

Watch this walkthrough of the Amortizations module: creating amortization schedules, generating and running the monthly journals, and adjusting a schedule when its terms change.

Step-by-step overview

There are four ways to create an amortization in NetClose, including auto-creating from the source transaction. Once schedules exist, you can run monthly amortization journals directly in NetClose. If you need to make any adjustments to your amortization throughout its term, the amortization module allows you to easily modify, transfer, or write off the amortization.

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More detail and next steps

The articles below go deeper on setting up and working with amortizations.

Setting up amortizations

• Create Amortization Types
• Custom Amortization Transaction Types & Approvals
• Upload Amortizations

Working with amortizations

• Creating New Amortizations
• Amortization Field Reference
• Auto Create Amortization from Transaction
• Create Amortization from Transaction
• Generate Amortization Schedules
• Commence Amortizations
• Run Monthly Amortization Journals
• Modify an Amortization after Commencement
• Transfer an Amortization
• Amortization Time Machine