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Hi comunity,
I can't get an amortization schedule from my bank (they don't provide one). If I compute the loan in the Odoo, the principal, interests and total amounts don't match the ones that bank actually charges. To make it right, I will have, on monthly bases, cancel the loan, set it to draft, adjust principal and interests amount payed and confirm the loan agan. Question:
Will doing it this way cause any issues with the accounting down the road or I'll be ok?
Hi,
Please refer to the links:
1. https://www.odoo.com/documentation/18.0/applications/finance/accounting/bank/loans.html
2. https://www.cybrosys.com/slides/loan-management-in-odoo-18-accounting
3. https://www.cybrosys.com/blog/how-to-track-and-manage-loans-in-odoo-18-accounting
Hope it helps.
Cancelling the loan every time to adjust seems cumbersome at best. I think this is more of general amortization calculation than an Odoo thing, but if you know how much principal loan you have, plus monthly fixed payouts and total number of payouts, you can calculate the interest monthly. Compute that outside of Odoo, then upload that via Excel or CSV import.
Worst case, if manual calculation of amortization schedule or the calculation generated by Odoo is not accurate, you could just create the loan as-is, then just modify the draft deferred entries before they get to be automatically posted when you already know the final figures for the specific amortization.
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