Finance Leases

2005-12-06
2013-05-02
  • Kenneth Tsang
    Kenneth Tsang
    2005-12-06

    Dear all,

    Say, I have to repay a monthly amount of 12,000 for a period of 36 months.  I wish to use compiere to generate the vendor invoice automatically each month.  However my concern is that this 12,000 is broken down into interest and capital and the break down is different for each month.  That is, despite I am paying a monthly amount of 12,000, for one particular month it could be 9,000 capital and 3,000 interest whereas the next month it could be 10,000 capital and 2,000 interest.  However, the total amount paid each month is still 12,000.  How can I account for this in compiere  I

     
    • ADAXA
      ADAXA
      2005-12-06

      I have not seen functionality to do this automatically.

      You could create a spreadsheet with the correctly calculated monthly interest. This could imported as vendor invoice lines to fake 'products' called 'interest' and 'principal reduction' ... (life would be easier if you could import invoices pointing to a Charge).
      You could then 'complete' the invoices each month in case you paid out the loan early.