A utility has been provided to calculate the remaining balance after
each payment schedule record. This utility is intended to be used after you have
entered the payment schedules. After clicking the Calculate Balances button you
will be given the opportunity to confirm the process.
The Calculate Balances utility assumes the sum of the principal payments will pay the obligation down to 0. The utility will sum the principal values you have entered and use this number as the starting point for calculating balances. With this assumption, it does not matter whether you have entered the entire historic payment schedule or just started from the current year. As long as you have entered all payments from the current date to the life of the obligation, the utility will calculate a balance after each payment. Any adjustments entered for a payment record will be added to the balance; therefore credits must be entered as negative numbers.