NetClose - Editing Amortizations Before and After Commencement
Editing an amortization before and after commencement are a little different from each other, but both are possible. This isn't the same as modifying an amortization after you've started running entries; if you've run entries already, you should take a look at our article on modifying amortizations.
Editing Before Commencement
Whether or not you've generated your amortization schedule, if you haven't commenced the amortization, editing is the same. Just click the blue "Edit" button in the upper left corner and change whatever you need to. If you've already generated your schedules and you change a field that affects the schedule, you'll receive this message at the top of your screen and the button to commence your amortization will change back into the schedule generation button. You'll need to generate the schedule before commencing the amortization.
Editing After Commencement
Things are a little more complicated if you've commenced your amortization. Once you commence an amortization, all of the fields under the "Schedule Information" field group on the amortization (capitalization date, start date, term, amount, and end date) are locked to prevent a mismatch between the amortization header information and the underlying schedule. Additionally, the "Status" field, the one that indicates whether an amortization is pending or commenced, is locked down to prevent amortizations from being arbitrarily rolled back to a pending state after entries have been run.
There may be times when you need to override these safeguards; that's what this article is all about.
No Journals Have Been Run
If you've run no journals, you just need to change the amortization status from "Commenced" to "Pending". We've built the ability to unlock the locked fields by putting a value into the "Script Execution Log" field on the amortizations. Just Edit the amortization, go to the System Notes subtab and put ANY value in the Script Execution Log, then save the amortization. Edit the amortization again, and you can now change the Status field from "Commenced" to "Pending". You can also change whatever values you needed to change in the first place before removing the value in the script execution log and saving the now edited amortization record.
Now you can regenerate the schedule, commence your amortization again (for real this time), and start running journals.
Journals Have Been Run
If journals have already been run, you need to get rid of the journals that you've run before you should move your commenced amortization back into a pending status. If you have run several periods' worth of journals, you should really consider modifying or writing off your amortization instead, especially if you don't want to open up all of the periods that you've run journals in for the amortization.
To see all of the related transactions, go to the amortization record. You'll see on the amortization schedule all of the listed journal entries that have been run. You'll need to delete these journal entries in order to reverse out the impact that's been booked for the amortization already.
After you've done this, you can follow the instructions in the "No Journals Have Been Run" section to set the status of the amortization back to pending and regenerate the amortization schedule.