Calculate a Loan Payment Schedule in Access
Welcome
This seminar will teach you how to calculate a complete Loan Amortization Schedule in Microsoft Access. You will learn how to work with flexible loan terms, manage multiple loans per client and per loan provider, and generate reports such as an aged accounts receivable.
Resources
Main Goals
- Learn how to calculate loan payments
- Create a complete amortization schedule
- Work with flexible loan terms
- Manage multiple loans per client
- Manage multiple loans per loan provider
- Reports like aged accounts receivable
Update
- I recently updated the database template for this Seminar. See Loan Amortization Template 2.0.
- If you purchased a copy of this Seminar or version 1.0 of the original template, you get a 50% discount to upgrade to the new version. Contact me for details.
Topics Covered
The Loan Form is the main feature of this database. Here you can select a client, a loan provider, enter the terms of the loan, calculate the payments, generate a complete amortization schedule, and track client payments. We'll spend most of our time building this complex form.
Exploring the other features of this database, we'll learn how to create a Main Menu form:
We will create a Client List and a Client Detail form. You'll see a list of Loans per Client.
You can print a report showing the status of all loans per client.
You can see all of the same items for Loan Providers as well (list form, details, report):
To create a new loan, just select a client and a provider. Enter a description, the loan amound, the interest rate, and the start date. Select a frequency (monthly, weekly, etc.)
Enter in the number of payments (or type in the number of Years and the database will calculate the number of payments for you). The click on the Calculate Monthly Payment button and Access will tell you what the payment should be.
Now you're ready to generate the complete Amortization Schedule. Again, one click and Access does all the heavy lifting for you.
You can enter the client's payments as they come in. Access will assign them to "regular" payment amount and "extra" payment amount, if you wish to allow the client to pay down his balance early.
You can print this complete report out for the client.
There are a couple of additional reports as well. You can generate a list of all active loans for all providers, a list of all current loan values (payoff amounts), and you can generate an aged accounts receivable, showing as much or as little detail as you want.
For example, this report shows the providers, clients, and loan info, but not all of the payment schedule details:
This is the perfect seminar for anyone who needs to learn how to calculate loan payments and track amortization schedules with payment histories in Microsoft Access. Of course, if you have any questions about whether or not this seminar is for you, please feel free to contact me. I'd be happy to answer any questions you might have.
NOTE: If you're looking for something less involved, there is a simpler database available that performs basic loan amortizations in the Templates section.
Pre-Requisites
This is a Developer-Level Seminar. There will be a lot of VBA. It is strongly recommended that you have completed my entire Access Beginner and Expert series. My Developer 1 class is highly recommended so you understand the basics of programming in VBA. If not, at least watch my free Intro to VBA video.
Version
I am using Access 2010 in this seminar, however the lessons are perfectly valid for all versions of Access from 2003 and later. It's currently 2022 and I just recently verified that everything in this seminar still works with Access 2019 and Office 365.
Enroll Today
Enroll now so that you can watch these lessons, learn with us, post questions, and more.
Questions?
Please feel free to post your questions or comments below. If you are not sure as to whether or not this product will meet your needs, I'd rather help you before you buy it. Remember, all sales are final. Thank you.
Keywords
microsoft access amortize, amortization, loan, payment, schedule, pmt, aged accounts receivable
