Microsoft Access Loan Amortization v2 Template
Introducing the updated version 2 of my very popular Access Loan Amortization Template. This new version includes greatly enhanced speed so that your schedules recalculate instantaneously. You can add an additional amount due to each payment, which you can use for taxes, insurance, or late fees. You can revise the loan schedule calculations and automatically reapply the payments. I've added date filters and lots of additional enhancements.
Videos
Updates
- Version 2.1 update (2024-09-12). Fixed the filter boxes so that if you pick "life of loan" and there is a payment made before the loan start date or after the last scheduled payment, it will still adjust accordingly. Also fixed the manual mode so it will not automatically change to the loan scheduled payment dates. If you've made extensive changes to your database, the only modifications I've made are in the GlobalMod, so you don't have to worry about updates to your forms or reports.
Sample Database
If you'd like to download a sample copy of the database template, you can do so here. This is a non-editable ACCDE version of the template which will let you see it work in action. You can enter/edit data, but you cannot access the design of the forms, reports, VBA, etc. The sample database requires 64-bit Access 2013 or higher. If you're still using 32-bit Office, read this. Be sure to watch the Introduction video (above) to see how to use it.
Free Sample Database (2.0)
Full Developer Database
Once you have purchased the full developer database template, come back to this page and click on the Download button below. This will give you access to the ZIP file containing the Template ACCDB file. The full version will run on 32-bit or 64-bit Access 2007 or higher. Be sure to watch the Integration Instructions video (above), and visit the Instructions page.
Full (Paid) Version 2.1
Links
Features
- Calculate the monthly payment based on loan amount, interest rate, number of years
- Automatically adjust final payment to ensure there are no rounding errors
- Create full amortization schedule showing principal and interest for each month
- Track beginning and ending balance for each period
- Allow monthly payment overage to subtract from principal balance (optional)
- Recalculate monthly interest payments as data changes
- Monthly payments automatically stored and applied where needed
- Additional payment amounts can now be added (taxes, insurance, late fees, etc.)
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.
You can print a report showing the status of all loans per client.
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 database will automatically 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:
Please note that this is NOT a teaching database. If you want to learn how to build an earlier version of this database, with step-by-step instructions, the please purchase the Loan Amortization Seminar. I am not planning on releasing videos for this upgraded template. If you are interested, please post a comment below.
If you purchased the Loan Amortization Seminar or the Loan Amortization Template 1.0 after June 13th, 2021, you are entitled to a free upgrade to this template. If you purchased either of those items before that date, you will receive a 50% discount on the new version. Please contact me in either case.
Possible Future Upgrade Ideas
If you are interested in any of these, please post a comment below.
- Principal Only Payments
- Variable Interest Rate Loans
- Simple Late Fee Add-Ons
License
For internal use only. This template does NOT come with a royalty-free license. You may only customize the template for your business needs and for use within your organization at one location ONLY. You may not resell or distribute any form of this template to others without express written permission. Contact me for additional information on obtaining a license to distribute if you plan on including this template in a product you are reselling. Additional licenses are required if you plan on using this template with more than ten (10) employees or in multiple locations within your organization.
Not a Finished Product
Please keep in mind that most of my template databases are not designed to be finished products that are ready to go in a working environment. My templates are meant as starting points for you to customize for yourself so you don't have to reinvent the wheel. This requires that you have a basic understanding of Microsoft Access development. To work on most of my databases you should have completed my Access Beginner series and the first couple levels of my Expert series at a minimum. Most of my databases require knowledge of SQL and VBA as well.
Customize For Your Needs
If you would like to discuss customizing this template for your needs, and integrating it into your current setup, please see my consulting page for details. While I no longer accept custom jobs that are specific to a single user, I may include your features in a future version of this template if they have mass appeal. If you are looking for custom enhancements made to this template just for you, visit my Developer Network.
Technical Support
Please note that technical support is NOT guaranteed for any of my courses, seminars, or templates. If you require help with modifying this template, you may post a question in the Forums, however an answer to your question is not guaranteed. If this template comes with an accompanying Seminar, then you should purchase that Seminar to see how the database was constructed. If not, then you should have taken the suggested courses. Most of my templates are designed on a Developer level and you should have a thorough understanding of SQL and VBA before attempting to modify them. If you have a problem with one of my databases, I will only support the unmodified database exactly as it's downloaded from my site. If you have modified it in any way, it may not be something I can help you with. You can post in the Forums, and I may be able to help you, but if the issue doesn't exist in my unmodified database, it's not something I can support.
Questions?
Got sales or customer service questions about this template? Feel free to contact me. If you have technical "how do I" questions about this template, you discover a bug, or want to suggest a new feature, then please post your comments below.
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