Schedule Details
The Schedule Details tab of the Debt transaction records the details of one or more planned payment schedules and any amortizations necessary. This data drives automatic processing for payments/billings, accruals, and year end processing. In the event there is a negative amount of principal or interest entered or uploaded for a Schedule Detail line, if the total payment amount is negative the system will not issue a disbursement unless there is one or more other payments to offset the negative debt payment (adjustment).
When Schedule Details are brought in from the registry to a modification transaction, those that have been processed by the system are brought forward but the fields in the modification column are protected for those records. Only those Schedule Details that are unprocessed can be modified. Deletion from the transaction is possible of the processed lines, but that will not result in the deletion of the record from the registry.
You can add records to the Schedule Details tab in multiple ways.
Use the Insert New Line action to manually insert records. You will need to populate all required fields.
Use the Import Details action on the Schedule topic to upload from a spreadsheet specified in the Import File field on the Schedule tab.
Use the Generate Schedule action on the Schedule topic to generate Schedule Detail records automatically based on values entered on the Schedule tab.
Use any of the above actions and then modify, delete, or add records as necessary.
Field Level InformationField Level Information
Field Name |
Required? |
Field Description |
Schedule Number |
System Set |
When a Schedule Detail is created for a Schedule, the unique number (Schedule Number) for that Schedule is populated automatically. |
Schedule Line |
System Set |
Each Schedule Detail record is identified by a system-assigned number starting with 1. |
Scheduled Date |
Required |
Every Schedule Detail record has to have a Scheduled Date to detail when the record should be processed by one of the Debt chain jobs or have a transaction manually created. There is no restriction of having more than one record for the same Scheduled Date. Weekend and holidays are allowed and will be selected by the Generate Schedule action. The chain jobs that select based on this date all have ‘less than’ in addition to ‘equal to’ in the selection criteria so such records will be processed on the next business day the chain is run if a run was not done on a weekend or holiday. |
Processed On |
System Set |
When a Schedule Detail is referenced by an accounting transaction created by one of the Debt chain jobs or created manually, the Processed On date of that record is updated with the Application Date at the time the transaction went to final. Please note this is not the Record Date of the transaction, which could be different. The transaction listed in the Transaction 1 field is the one that updates this date. The Transaction 2 does not change the Processed Date. If Transaction 1 is cancelled, then this date will be cleared if the Transaction 2 field is also blank. When this date is populated, the Schedule Detail record is considered ‘processed’ and will then be completely protected if brought into a modification transaction. |
Schedule Detail Type |
Required |
As a Schedule will contain amortization records, payment records, and possibly other types as well, there is the Schedule Detail Type to classify each Schedule Detail. This setting is integral to the processing of each Debt chain job. Once a Schedule Detail has been stored on the registry, the setting cannot be changed. If it is invalid, then set the amounts to $0.00 and insert a new record that is correct. The list of valid values is as follows:
|
Principal |
Required |
Principal is a required amount for a schedule detail even if that amount should be $0.00 for a record. In cases where there is an interest-only payment or an amortization, the Principal amount should be $0.00. A value of $0.00 will only default if the Schedule Detail Type is Amortization. |
Interest |
Required |
Interest is a required amount for a schedule detail even if that amount should be $0.00 for a record. In cases where there is a principal-only payment or an amortization, the Interest amount should be $0.00. A value of $0.00 will only default if the Schedule Detail Type is Amortization. For all operating leases, the Interest amount must be $0.00. |
Other Amount 1-5 |
Required |
The Other Amount is not allowed if the Schedule Generation Action field is Not Used. If the action is any other value, then the amount is optional within limitations based on the Schedule Detail Type:
|
Gross Payment |
System Set |
Gross Payment is a system-calculated amount that represents the total amount to be paid (or billed) for a Schedule Detail when the Schedule Detail Type is a payment (that is, not Amortization). It is the sum of the amounts of Principal, Interest, and each Other Amount. This amount is not visible on bond transactions. |
Net Payment |
System Set |
Net Payment is the same as Gross Payment for bonds and leases because those two types of debt do not have the Bill Principal and Bill Interest flags found on the Schedule of the loan transactions. If either of those flags is unchecked, that corresponding amount is not included and then Net Payment will differ from Gross Payment. |
Unpaid Principal |
System Set |
Unpaid Principal is a system-calculated amount to display the total amount of principal that has not been paid (billed) after a Schedule Detail record. If the Bill Principal flag is unchecked for a loan, this amount will still reflect reductions in principal although it is not actually being paid. |