Setting Up Amortizations

Total Periods

Specify the total number of periods that the amortization amount is divided amongst. The value set on the Distribution Accounts form is used as the default on the Amortizations form. For the purposes of amortization, each month end date designates the end of period.

Journal

Select the accounting journal to use for the amortization.

Select Trans Date From

Select whether amortizations should occur at the start or the end of the period.

Amortize Contracts

Select this check box to include contracts in the amortization.

Amortization Prepaid Expense Account

Select an account from the chart of accounts to use for the amortization.

Amortization Deferred Revenue Account

Select an offset account from the chart of accounts to use for the amortization. You can also set amortization controls on the Service Distribution Accounts form. On this form, you can configure one product code to automatically generate amortization schedules through contract invoicing, while another product code does not.