You can select Principal First payments to allocate payments towards principal first even if there is outstanding interest due. This type of payment is only compatible with U.S. Rule amortization and is not available with Normal, Canadian, or Rule of 78 amortization.
To create Principal First payments
- Click the Home ribbon's Special Series menu button in the Detail group.
Tip: You could also press [F2] from the Amount field of a cash flow line.
- Select Principal First from the drop-down menu. The cash flow line will expand to include the Special Series detail.
- Enter the payment amount in the Total payment amount field. If the payment amount is unknown, type [U].
After you finish editing the series detail, you can continue on to the Number field by pressing [Tab].
Example screenshots
Cash Flow Matrix
Amortization Schedule Report
