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Please use our complimentary loan payment and accounting spreadsheets to calculate the current balance of your loan, determine how much interest your borrower paid to comply with IRS reporting requirements, apply late fees when necessary and keep track of funds held in reserve for insurance and taxes.
These schedules allow you to enter payments on the actual date you received payment, allowing you to charge interest for every day past the due date your payor is tardy. You can also enter late fees and reserves, allowing you to tack all funds credited and debited to your loan.
Many of our customers print out the scheduled payments on their loan using our free payment schedule (Free Payment Schedule) and use it as a ledger to track payments as they come in. At the end of the year or anytime they need the exact current balance, amount of interest paid by their borrower, an accounting of late fees or reserves, they enter the payments as they occurred to find the true balance at that point in time.
We offer two different pay history and accounting spreadsheets depending on the complexity of your loan. Our basic spreadsheet is for loans with a interest rate that is fixed for the life of the loan. Our variable interest spreadsheet allows for changes of interest rates within the payment period.
We will have both pay history spreadsheets available on our site for your easy access. For now, both options can be downloaded and opened with Microsoft Excel.
These pay history and accounting spreadsheets provide a number of options to match how your loan is structured. Our calculators use generally accepted procedures for determining the application of principal and interest payments. However, the specific terms of your loan may be different then any option allowed by this program. Our payment schedule it is not designed to calculate and create the payment schedule for any specific loan. See your CPA or attorney to determine if your loan terms may apply payments differently then our calculator.
Use this link for our simple payment schedule calculator used for standard loans with no interest rate changes. You can also right-click on the link and "Save As..." to save the spreadsheet to your computer.
DOWNLOAD BASIC LOAN BALANCE CALCULATOR
Use this link for our complex payment schedule calculator used for loans with changing interest rates, payment amounts, or bump payments. You can also right-click on the link and "Save As..." to save the spreadsheet to your computer.
DOWNLOAD VARIABLE RATE LOAN BALANCE CALCULATOR
We hope these pay history and accounting calculators will assist you in managing your loan.
[Home]
[About Us]
[Why Sell Your Note to West Coast Equity]
[FAQ about selling your note]
[Request a Free Quote]
[Free Note Holder's Handbook]
[Free Payment Schedule]
[Free Loan Balace Calculator]
[Order Your Borrower's Credit Report]
[Opt Out of Mailing List]
[Contact Us]
[Privacy Policy]
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