Financing Setup

Financing Setup is accessed under File > Setup > Deal > Financing. You can define the following defaults:

• Collect Payments Using – Use the drop down box to choose between Simple Interest, Rule of 78, or Federal Calendar.  Note that Federal Calendar bases the calculation on 360 days rather than 365 days.
• Default Term of Loan – Enter the number of months that you normally have the loan for.
• Computing Method – Use the drop down box to choose between Add-on and Compound.
• Add-on Rate/APR – Enter the default add-on rate or APR.