1 Reply Latest reply on Feb 27, 2013 6:23 AM by JimMac

    decreasing monthly values



      decreasing monthly values


      Hi Group

      I was thinking about creating a spreadsheet to monitor loan payments that decreases each month as a payment is made, i will want this to monitor several facilities that get paid on different dates but at any time i look at it i want to see the actual values owed. I have a simple version of this already but it is more manual.

      However i would like this to be in filemaker as i want to do much more with it, so my question is:

      in filemaker can i set up a loan entry that has say 36 payments and a start date of the loan and the set payment date each month, there will be various records with various loans all starting and finishing at different times and with varying values.

      I want to then see all the totals on screen to have an upto date view of all loans etc..
           this needs to work automatically i.e i don't want to interact in the calculation and if i don't look for a month or so when i do look / access the screen it needs to be up to date values.

      is this possible and is there an easy way to set up?

      regards Fluffy

        • 1. Re: decreasing monthly values

               Sounds like a classical payment method that many banks still use.......  Pre-Printed Payment coupon book.

               Each payment, for a LoanID [Loan info table] generates a coupon [record] for each date due[in advance].  Client pulls out payment coupon, writes check and sends both to the bank and marks payment date[ mark payment coupong PAID]. 

               Then using List format of the LoadID payment book [all records] you can see the totals of all Payment, Interests, Principal, payments left, payoff balance, late payment, etc.