ADB Loans

ADB Loans

Info
See attached document for more details. 

ADB: Actual Daily Balance. A type of loan where the date of payment received affects the amount of interest paid each period.

  1. Earnings schedule of interest set at time of booking
  2. The date of payment received affects the amount of interest paid each period
  3. Earnings are adjusted based on when each payment is received 
  4. Contract re-amortizes as each payment is made 
 
The attached document shows how the date a payment is received on an ADB loan affects the principal/interest split.





 




    • Related Articles

    • Stored Amortization updates through processing and Amortization Update Job

      To allow for more efficient data gathering, ASPIRE will store a copy of a contract's amortization. This amortization is updated, generally, in two ways: through normal contract processing and via the Amortization Update Jobstream job. Below is a ...

    • Loans: Same as Cash Period

      What does the Loans "Same as Cash" functionality do? When utilizing the Loans Module, you can turn on the Loans "Same as Cash" functionality which will allow you to process the payments and have ASPIRE apply 100% of the payments toward Principal Only ...

    • Loan Payoff Immateriality Amount setting in Accounting Options > Loans - Video

      The video discusses the "Loan Payoff Immateriality Amount" setting that is held within the Administration > Accounting > Accounting Options > Loans tab. This setting will allow the user to process a Loan Payoff within the Tasks > Cash Management ...

    • Are Payoff Penalty Codes different for Leases vs Loans?

      Penalty Fee functionality is actually there regardless of the contract being a lease or loan. The Contract Main > Billing screen has a field called “Penalty Code” that must be populated prior to performing the payoff calculation before the Penalty ...

    • Security Profiles and Global Settings

      See attached document for complete details. The attached document digs into important Security Profile settings as well as Global Settings, both on the ASPIRE Administration menu. The document does not expand every setting within the Security Profile ...