Calculate Payment

Payment Amounts can be entered on a Variable Schedule. Alternatively, the amount can be populated by the Calculate Payment action on the Variable Schedule tab. This action becomes available once a line is added to the Variable Schedule component.

The action automatically calculates Payment Amounts when the initial payment increases by a specified percentage over the lease term. To use this functionality, the following conditions must be met:

• At least one line must be added to the Variable Schedule component, including: Schedule Payment Date, Payment Amount and Percentage Change. This line serves as the base payment and defines the percentage increase to be applied to subsequent payments.

• Additional Lines: One or more lines with Schedule Payment Dates must be added to indicate when the updated payment amounts will take effect.

The system calculates the payment amounts for each line using the following formula: 

• Line 2: Payment Amount Line 1 * Percentage Change + Payment Amount Line 1 = Payment Amount Line 2

• Line 3 onward: Payment Amount Line N * Percentage Change + Payment Amount Line N = Payment Amount Line N+1.

If the Payment Amount in Line 1 is updated and the Calculate Payment action is taken again, the system recalculates and overwrites the payment amounts for all applicable lines based on the new initial value.