NetClose - Commencing Amortizations

Prerequisite

The amortization schedules must be run before commencing.

Generating Amortization Schedules (netgain.tech)

Commence the Amortization

  1. After all the schedules have been generated, navigate to NetClose> Amortizations > Commence
  2. Select all Amortization you would like to commence. These can be amortizations that have a start date in the future, it will not run journal entries.
  3. Click "Submit".
  4. Refresh until "Generate Status" says "Complete".

You can also commence an amortization directly from the amortization record by clicking "Commence".

Commencing an amortization changes the status from "Pending" to "Commenced". A commenced status allows NetClose to run the capitalization and amortization journal entries and prevents any edits to the amortization record.

EDITS AFTER AMORTIZATION IS COMMENCED
After an amortization is commenced, you cannot made edits to the amortization data (dates, amounts, terms, etc.) without a modification. Make sure your amortization is free from errors and the amortization schedule is correct before commencing.
Was this article helpful?