Schedule

A Schedule record contains identification, control, and reporting information about one or more sets of Schedule Detail records. A schedule is always required and multiple schedules are allowed for evaluation purposes, but only one can be marked as the Selected Schedule.

The following actions actions can be taken:

Generate Schedule generates Schedule Detail records based on values entered on the Schedule. This action performs many steps. Refer to the "Generate Schedule" topic in this user guide for more information. If not enough information is present, the system will return an error. That error will be listed with any that previously existed on the transaction. Should you move away from the Schedule tab of the transaction, then that error from the Generate Schedule action will go away.
Get Template provides a formatted Excel spreadsheet for uploading Schedule Detail records. This template should be used as the starting point for any file selected in the Import Details field. When another tool is used besides the Generate Schedule action to define the schedule, data from that tool is then transferred to this template. Refer to the "Get Template and Import Details" topic for more information.
Import Details imports the file in the Import File field with Schedule Detail records. The file being imported has to be attached to the Schedule record by using the Attachments action. Note: Attaching files by the same name to the schedule is not recommended as the system will select the first attached file when there are multiple files with the same name. Refer to the "Get Template and Import Details" topic for more information.
Calculate YTM takes information on the Schedule and possibly the Schedule Details to determine a Yield to Maturity. If not enough information is present, the system will return an error. That error will be listed with any that previously existed on the transaction. Should you move away from the Schedule tab of the transaction, then that error from the Calculate YTM action will go away. This action is only found on the bond transactions. Refer to the "Calculate YTM" topic for more information.

Refer the "Special Debt Transaction Actions" topic of this user guide for more information on these actions.

Field Level InformationField Level Information

Field Name	Required?	Field Description
Line Number	System Set	Each Schedule record is identified by a system-assigned number starting with 1.
Schedule Type	Required	A field that will not only control edits but is a primary input into the Generate Schedule action. Valid values include the following choices, but please see the Loan, Lease, and Bond Functionality topics for limitations for those types of debt. When not using the action to generate the schedule, please try to enter a value that matches or very closely matches the Schedule Details to provide helpful information for online inquiry and reporting. Amortized Payment – Interest is calculated for each payment based on the declining balance in Principal that decreases with each payment. Principal in Last Payment w/Rate Interest – A constant amount of interest calculated as the Interest Rate * Principal is paid over the schedule with the full amount of Principal paid in the last payment. Principal in Last Payment w/Fixed Interest – A constant and fixed amount of interest is paid over the schedule with the full amount of Principal paid in the last payment. Principal in Last Payment w/Compound Interest – Interest is paid at a compounding rate where the amount of interest in the prior payment is included in the current payment. The full amount of Principal is paid in the last payment along with all compounded interest Other – This choice is used when one of the specialized values does not come close to representing the payment schedule. The Schedule Generation action will not work with this choice so please upload or manually enter Schedule Details. Of special note about the Other schedule type is that it should not be used with a schedule that resembles a Principal in Last Payment. The reason is that the value will not trigger the Periodic Debt Accounting chain to look for principal in that final payment. It will only look to the next payment Schedule Detail after the Accrual Period End Date as with an Amortized Payment. Changes to the Schedule Type field are not allowed if the schedule is already recorded on the registry as a result of an earlier transaction processed. If the schedule is incorrect for a schedule created in the current version of a debt transaction, it can be changed. If the schedule is found to be incorrect after being recorded on the registry, then the Selected Schedule flag for the schedule should be cleared and another schedule created.
Schedule Name	Optional	A name that can be given to a schedule for identification purposes. This is often helpful when entering different schedules for evaluation. If a Debt Terms code is entered in the Terms tab, the name for that code will infer from the Debt Terms page to the Schedule Name field if that field is blank.
Schedule Short Name	Optional	A short name that can be given to a schedule for identification purposes. This is often helpful when entering different schedules for evaluation. If a Debt Terms code is entered in the Terms tab, the short name for that code will infer from the Debt Terms page to the Schedule Short Name field if that field is blank.
Schedule Description	Optional	A description that can be given to a schedule for identification purposes. This is often helpful when entering different schedules for evaluation. If a Debt Terms code is entered in the Terms tab, the description for that code will infer from the Debt Terms page to the Schedule Description field if that field is blank.
Import File	Optional	A field where you enter the file name of the attachment made to the Schedule with the Schedule Details for importing. The pick can be used to select the file so you do not have to enter the file name.
Selected Schedule	N/A	One Schedule has to have this flag checked. The Schedule with this flag checked is the one used by all the Debt Management batch jobs as the ‘active’ schedule. The flag differentiates a schedule from those schedules considered but not chosen as well as historical schedules.
Historical Schedule	System Set	This flag only appears on the modification transactions as there will never be a historical schedule on a setup transaction. When a schedule has been used, at least one record has a Processed On date, but a new schedule has been entered and flagged as the Selected Schedule, the system sets the prior schedule as the Historical Schedule.
Bill Principal	N/A	This flag is only found on the loan transactions where it is an option to record principal but not bill/pay that principal with the Debt Payment & Billing Chain. This scenario is present in certain loans where the agreement is that the borrower doesn’t have to pay any principal but only interest as long as one or more conditions are met. Should the borrower fail to meet these, then a modification transaction is processed to check the flag and begin automatic billing/payment. Checking the flag after it has been unchecked will result in past payments or billings of principal previously skipped being created if there was interest paid or billed so that the Schedule Detail was updated.
Bill Interest	N/A	This flag is only found on the loan transactions where it is an option to record interest but not bill/pay that interest with the Debt Payment & Billing Chain. This scenario is present in certain loans where the agreement is that the borrower doesn’t have to pay any interest but only principal as long as one or more conditions are met. Should the borrower fail to meet these, then a modification transaction is processed to check the flag and begin automatic billing/payment. Checking the flag after it has been unchecked will result in past payments or billings of interest previously skipped being created if there was interest paid or billed so that the Schedule Detail was updated.
Manual Payments/Billing	N/A	This flag is used to signal the Debt Payment & Billing Chain should skip the debt instrument because transactions will either be created manually or interfaced. All other automatic processing will continue to select the debt instrument. Checking the flag after it has been unchecked will result in past payments or billings previously skipped being created if the manual transactions did not reference the Debt ID, Schedule, and Schedule Line so that the Schedule Detail was updated.
Generated Schedule	System Set	This flag is set by the system when the Generate Schedule action is taken to signal the Schedule Details were created from the Term fields. If a change, deletion, or insertion is made to the Schedule Details after the action, the flag is unchecked by the system.
Reporting Field 1-5	Optional	A descriptive field that has no pre-assigned system use but can be used as you see fit. Some uses would include: the date the schedule became the Selected Schedule, a code for cash forecasting selection of proposed bond payments, or information about the schedule that does not equate to a payment or amortization term.
Debt Terms Debt Terms Name	Optional	An optional code to infer a set of payment and/or amortization terms established for the type of debt. Valid values are set up on the Debt Terms page. When inferred, the terms will replace any previously entered value except where the Debt Terms record had no value for the term. This ‘powerful’ inference ensures data accuracy, which would be important for a type of debt like a specific type of loan that should not vary. Please note that this inference only happens on a new schedule record. If an existing schedule is brought into a modification transaction with a Debt Terms code which has been changed on the Debt Terms page since the schedule was created, those changes will not be inferred to the modification transaction.
Principal	Required	If left blank, this field will default to the amount of Principal entered on the Debt Instrument record. That should be the amount on the schedule in all cases unless there is an existing schedule that is going to become the Historical Schedule and a new schedule will be the Selected Schedule. In that case, the amount of Principal on the schedule should be the remaining amount that has not been paid yet. The transaction will ensure that the amount of Principal on the Selected Schedule and the amounts of Total Principal Paid for each Historical Schedule equals that of the Debt Instrument.
Fixed Interest Payment Amount	Conditionally Required/Prohibited	A value is required in this amount field when the Schedule Type is Principal in Last Payment w/Fixed Interest. A value is not allowed for any other Schedule Type except Other where the amount is optional. The amount can be $0 for a loan but must be greater than that on a bond. It is not allowed for leases as the Principal in Last Payment w/Fixed Interest Schedule Type is not allowed for leases. This is the PER PERIOD amount of fixed interest and not an annual amount of interest. Please keep this in mind when entering a value.
First Payment Interest Rate	Conditionally Required/Prohibited	When the first payment has a different interest rate than all subsequent payments, this First Payment Interest Rate will accommodate that with the Generate Schedule action. If not entered, the value from the Interest Rate defaults to this field. This is the ANNUAL interest rate and not a ‘per period’ interest rate. Please keep this in mind when entering a value.
Interest Rate	Conditionally Required/Prohibited	A value is required in this field for all Schedule Types other than Principal in Last Payment w/Fixed Interest and Other. When Other, the field is optional. The rate can be 0.0000% for a loan but must be greater than that for a capital lease or bond. For an operating lease the rate must be 0.0000%. This is the ANNUAL interest rate and not a ‘per period’ interest rate. Please keep this in mind when entering a value.
Frequency	Required	A field that will not only control certain edits but is a primary input into the Generate Schedule action when creating payment Schedule Details. Valid values include the following choices: Weekly – Up to 52 payments a year and will require a Day of Week choice. Semi-Monthly – Up to 24 payments a year and will require a Date of Month choice of 1st & 15th or 15th & Last Day. Monthly – Up to 12 payments a year and will require a Date of Month choice of 1 to 31 or Last Day of Month. Quarterly – Up to 4 payments a year and will require a Date of Month choice of 1 to 31 or Last Day of Month and one of the four-month listings for Payment Month. Semi-Annually – Up to 2 payments a year and will require a Date of Month choice of 1 to 31 or Last Day of Month and one of the two-month listings for Payment Month. Yearly – A single payment each year until maturity and will require a Date of Month choice of 1 to 31 or Last Day of Month and one of the single-month listings for Payment Month. One Time – This choice is one that will not work with the Generate Schedule action. You must manually create a Schedule Detail for this Frequency.
Number of Payments	Conditionally Required	The starting point of a payment schedule is always the Schedule Start Date but the ending point is defined either by the Number of Payments or the Maturity Date. One of the two is always required and not just when using the Generate Schedule action. If both are entered that is acceptable, but the action will only use the Maturity Date in that case and warn you of that. A value entered must be a whole number greater than zero.
Day of Week	Conditionally Required	When the Frequency is Weekly, one of the five choices in this field is required: Monday, Tuesday, Wednesday, Thursday, or Friday. For all other Frequency choices, this field will not show any choices because it does not apply.
Date of Month	Conditionally Required	When the Frequency is something other than Weekly or One Time, a value is required in this field. For those two Frequency choices, this field will not show any choices because it does not apply. Please see below for valid choices based on Frequency. Semi-Monthly: 1st & 15th or 1st & Last Day Monthly, Quarterly, Semi-Annually, and Yearly: 1, 2, 3 … 30, 31, or Last Day of Month
Payment Month	Conditionally Required	When the Frequency is Quarterly, Semi-Annually, or Yearly a value is required in this field. For all other Frequency choices, this field will not show any choices because it does not apply. Please see below for valid choices based on Frequency. Quarterly: January/April/July/October, February/ May/August/November, or March/June/September/December Semi-Annually: January/July, February/August, March/September, April/October, May/November, or June/December Yearly: January, February, March, April, May, June, July, August, September, October, November, or December
Schedule Start Date (Dated Date)	Required	A Schedule Start Date is needed to signal the start of a payment and an amortization schedule. The field will initially default to the Issue Date of the debt instrument. However, if a later date is needed, one can be manually added. An earlier date is not allowed.
First Payment Date	Optional	When the first payment should occur before the first naturally occurring instance according to the frequency fields (Frequency, Day of Week, Date of Month, and Payment Month) you would enter that date here. Otherwise, this field will remain blank.
Maturity Date	Conditionally Required	The starting point of a payment schedule is always the Schedule Start Date but the ending point is defined either by the Number of Payments or the Maturity Date. One of the two is always required and not just when using the Generate Schedule action. If both are entered that is acceptable, but the action will only use the Maturity Date in that case and warn you of that. Use of the Maturity Date allows you to make a final payment before or after the last naturally occurring instance according to the frequency fields (Frequency, Day of Week, Date of Month, and Payment Month).
Amortization Frequency	Conditionally Required	A field that will not only control certain edits but is a primary input into the Generate Schedule action when creating amortization Schedule Details. A value is only required when performing the Generate Schedule action. However, if there are amortizations that you uploaded or manually inserted, you should choose the matching frequency, if possible. Valid values include the following choices: Weekly – Up to 52 amortizations a year and will require an Amortization Day of Week choice. This is not a very likely choice for amortizations. Semi-Monthly – Up to 24 amortizations a year and will require an Amortization Date of Month choice of 1st & 15th or 15th & Last Day. This is not a very likely choice for amortizations. Monthly – Up to 12 amortizations a year and will require an Amortization Date of Month choice of 1 to 31 or Last Day of Month. Quarterly – Up to 4 amortizations a year and will require an Amortization Date of Month choice of 1 to 31 or Last Day of Month and one of the four-month listings for Amortization Month. Semi-Annually – Up to 2 payments a year and will require an Amortization Date of Month choice of 1 to 31 or Last Day of Month and one of the two-month listings for Amortization Month. Yearly – A single payment each year until maturity and will require an Amortization Date of Month choice of 1 to 31 or Last Day of Month and one of the single-month listings for Amortization Month. One Time – This choice is one that will not work with the Generate Schedule action. You must manually create a Schedule Detail for this Frequency. Be aware that when using the Generate Schedule action that the Amortization Frequency cannot be more frequent than the payment Frequency when using the Constant Yield method of amortizing.
Number of Amortizations	Conditionally Required	A field that will not only control certain edits but is a primary input into the Generate Schedule action when creating amortization Schedule Details. A value is only required when performing the Generate Schedule action. However, if there are amortizations that you uploaded or manually inserted, you should complete the field with the number of amortizing Schedule Details. A value entered must be a whole number greater than zero.
Amortization Day of Week	Conditionally Required	When the Amortization Frequency is Weekly, one of the five choices in this field is required: Monday, Tuesday, Wednesday, Thursday, or Friday. For all other Amortization Frequency choices, this field will not show any choices because it does not apply.
Amortization Date of Month	Conditionally Required	When the Amortization Frequency is something other than Weekly or One Time, a value is required in this field. For those two Amortization Frequency choices, this field will not show any choices because it does not apply. Please see below for valid choices based on Amortization Frequency. Semi-Monthly: 1st & 15th or 1st & Last Day Monthly, Quarterly, Semi-Annually, and Yearly: 1, 2, 3 … 30, 31, or Last Day of Month
Amortization Month	Conditionally Required	When the Amortization Frequency is Quarterly, Semi-Annually, or Yearly a value is required in this field. For all other Amortization Frequency choices, this field will not show any choices because it does not apply. Please see below for valid choices based on Amortization Frequency. Quarterly: January/April/July/October, February/ May/August/November, or March/June/September/December Semi-Annually: January/July, February/August, March/September, April/October, May/November, or June/December Yearly: January, February, March, April, May, June, July, August, September, October, November, or December
Down Payment Amount	Optional	This amount, found only on the lease transactions, represents any amount of payment by the lessee up front. It is not any fee but is a lease payment made up front so no interest is recorded. The Generate Schedule action will treat all lease payments as being made at the beginning of a payment period instead of at the end.
Lease-End Option	Optional	This field is only found on lease transactions to indicate what happens at the end of the lease. Valid values include: Normal Purchase – When the leased asset can be purchased but the price is not classified as a bargain the amount should be classified as part of the total lease value with a Schedule Detail using the Purchase Payment value for Schedule Detail Type, but that is an optional decision to purchase or not. With a Schedule Detail, the Debt Payment & Billing Chain will automatically create a payment or billing for the purchase. Alternatively, the purchase price could be added as a Debt Cost record and an alert defined for the lease to trigger a user to make the decision or not to sale or purchase the asset at the end of the lease. Bargain Purchase - When the leased asset can be purchased at a bargain price below what would be fair market value at the end of the lease. Handling this option is the same as a normal purchase. No Cost Transfer – When ownership of the leased asset passes to the lessee without cost. Guaranteed Residual Value – When the leased asset has a guaranteed residual value by the lessee, the amount should be classified as part of the total lease value with a Schedule Detail with the Residual Value Adjustment value for Schedule Detail Type. The Periodic Debt Accounting Chain will create an adjustment for the residual value at the end of the lease. Unguaranteed Residual Value – When the leased asset has an unguaranteed residual value, the amount is not classified as part of the total lease value with a Schedule Detail. The amount is only informational unless that value is not met, in which case terms of the lease may require a manual payment. Renewal Penalty – When a lease carries a penalty if not renewed into another lease, the amount is usually entered for informational purposes much like unguaranteed residual value, but may have a manual accounting impact if the lease is not renewed and a penalty has to be paid. Only if it is a known fact the lease will not be renewed, the amount should be classified as part of the total lease value with a Schedule Detail with the Renewal Penalty Payment value for Schedule Detail Type. No Option – This value is the same as leaving the field blank but provides assurance that the option field was reviewed and set properly instead of being skipped over. Different values are valid based on the Major Type of Lease: Operating - Normal Purchase, Unguaranteed Residual Value, Renewal Penalty, and No Option. Capital - Normal Purchase, Bargain Purchase, No Cost Transfer, Guaranteed Residual Value, Unguaranteed Residual Value, and No Option.
Lease-End Amount	Conditionally Required	When the Lease-End Option is any option other than No Option or No Cost Transfer, then the Lease-End Amount must be greater than $0.00. When either of those two options, the amount must be $0.00.
Lease End Option Informational	N/A	If there is a Lease-End Option but it is not reasonably certain so that accounting should not account for it, then the option information can still be entered but with this flag checked so that the Schedule Generation action will not create any special Schedule Details that will cause the Initial Debt Accounting chain to account for the option.
Yield to Maturity	Conditionally Required	When a bond is issued at a discount or premium, there is a Yield to Maturity (YTM) rate that is different than the stated interest rate. When there is a discount, the YTM is greater than the stated interest rate and vice versa when there is a premium. This rate is required if you are going to use the Generate Schedule action and have one or more Other Amounts to amortize with the Constant Yield amortization method. You can manually enter a rate you have calculated or use the Calculate YTM action. If manually entering, please enter with a great deal of precision or there may be significant rounding towards the end of the amortization schedule. Be aware that the transaction will store up to 20 decimal places for the rate although you see only 4 online. This is the PER PERIOD rate and not an annual rate. Please keep this in mind when entering a value or reviewing a system-generated value. Refer to the "Calculate YTM" topic for more information.
Effective Yield from Compound Interest	System Set	A system-calculated field to convert the Interest Rate to an annual yield when the Schedule Type is Principal in Last Payment w/Compound Interest. The value in this field is automatically calculated when the Validate or Submit actions are selected using the Schedule information, not the Schedule Details. When the Frequency is One Time, this field will be blank.
Arbitrage Yield	Optional	An optional yield to manually capture the Arbitrage Yield rate. This field is not system-calculated because it requires information about the performance of proceeds from a bond that is invested. That investment information can be recorded in the Accounting Journal, but evaluation of that information to determine the rate is beyond the ability of the bond transactions.
Purchased Interest	Optional	When a bond issue is sold after the Dated Date of the bond has passed, there is an amount of interest ‘purchased’ by bondholders in the price of the bond. The additional cash from the sale of the purchased interest is booked with the bond and offset to a “Purchased Interest” account, which is later reduced at the first coupon.
Other Amount 1-5	Optional	If the chosen Debt Type for your debt instrument has the proper setup for Other Amount 1-5 for the selected Debt Type. If entering a bond, the Other Amount 1 is always an amortization of the Original Issue Discount. Other Amount 2 is always an amortization of the Original Issue Premium and Other Amount 3 is always an amortization of the Issue Costs.
Other Amount 1-5 Name	System Set	The inferred name given to Other Amount 1-5 based on the selected Debt Type. For bonds, this will always be Original Issue Discount.
Schedule Generation Action 1-5	Optional	The Schedule Generation Action 1-5 field instructs the Generation Schedule action on how to treat the respective Other Amount field when creating schedule details. On loan and lease transactions, the action inferred from Debt Type into a protected field. The bond transactions have the inference into an editable field to allow selection of a different amortization method. The Debt Type page prevents the ‘payment’ choices seen below for bonds. Valid values include: Not Used - The Schedule Generation action will not place the Other Amount on any record. Repeat on Every Payment – The Generate Schedule action will place the Other Amount on all Schedule Detail records with a Schedule Detail Type of Regular Payment (and Down Payment if a lease). With this choice, the Other Amount is considered an additional payment amount besides principal and interest. Record on First Payment Only – The Generate Schedule action will place the Other Amount on the first Schedule Detail record with a Schedule Detail Type of Regular Payment (or Down Payment if a lease). With this choice, the Other Amount is considered a one-time payment. Record on Last Payment Only – The Generate Schedule action will place the Other Amount on the last payment Schedule Detail record with a Schedule Detail Type of Regular Payment. With this choice, the Other Amount is considered a one-time payment. Split Evenly Across All Payments – The Generate Schedule action will divide the Other Amount by the total number of payment Schedule Detail records (Down Payment or Regular Payment). The resulting amount will be placed on every Schedule Detail record that is a payment with the last record receiving any rounding amount. With this choice, the Other Amount is considered a payment made with each principal and interest payment. Amortize - Straight Line – The Generate Schedule action will create amortization Schedule Detail records by dividing the Other Amount by the total number of amortizations. The resulting amount will be placed on every amortization Schedule Detail record with the last record receiving any rounding amount. As the name implies, this choice makes the Other Amount an amortization and not a payment. Amortize - Constant Yield – A choice that should only be used with Bonds that have a discount or premium so that the Yield to Maturity rate (YTM) is different than the stated rate of interest. The Generate Schedule action will create amortization Schedule Detail records amortizing the discount at a rate that is the difference between interest calculated with the YTM rate and the stated interest rate. Do Not Include In Generated Schedule – The Schedule Generation action will not place the Other Amount on any Schedule Detail record.
Total Principal	System Set	A system-calculated amount that is the sum of the Principal amount on all Schedule Detail records of a Schedule. Thus the calculated amount is the amount of principal paid and unpaid for a given Schedule. The Principal amount on the Schedule (entered or defaulted from the Debt Instrument) must equal this calculated total if the Schedule is marked as the Selected Schedule. For a Schedule marked as the Historical Schedule, the system sets the Total Principal equal to the Total Principal Paid, which is the same sum except only for records where the Processed On date is completed.
Total Interest	System Set	A system-calculated amount that is the sum of the Interest amount from all Schedule Detail records of a Schedule where the Schedule Detail Type is Regular Payment, Purchase Payment, Renewal Penalty, Refunding Payment, Residual Value Adjustment, or Purchased Interest. Thus the calculated amount is the amount of interest paid and unpaid for a given Schedule. On the bond transactions the field has the following label to differentiate it from compounding interest: Total Interest for Payment.
Total Compounding Interest	System Set	A system-calculated amount that is the sum of the Interest amount from all Schedule Detail records of a Schedule where the Schedule Detail Type is Compounding Interest. Thus the calculated amount is the amount of interest compounded or yet to be compounded for a given Schedule. This field is only found on the bond transactions because only that Major Type of Debt supports the Principal in Last Payment w/Compounding Interest Schedule Type.
Total Number of Payments	System Set	A system-calculated field that is the number of Schedule Detail records for a Schedule where the Schedule Detail Type is Down Payment, Regular Payment, Purchase Payment, or Renewal Penalty Payment.
Total Other Amount 1-5 Other Amount 1-5 Name	System Set	A system-calculated amount that is the sum of the Other Amount from all Schedule Detail records.

Note:

Certain information has to be present in order to create Schedule Detail records using the Generate Schedule action. Please be aware that only the total Other Amount 1 – 5 values are compared to the Schedule Detail records. The transaction does not perform validations for such items as the Interest Rate you entered is the calculated rate from the Schedule Detail records. In order to facilitate quick and accurate reporting, you should attempt to keep the values in this tab in line with the Schedule Details (where possible).