Navigation:  Repayment Planner > Repayment Interval

Specify the time between each repayment.

 

Interest Interval

 

 

Units

 

Always on first day

 

Always of last day

 

Synch(ronise)

 

This is an optional setting and if not used you should click the Clear button to leave the date blank.

 

When you define a schedule frequency, the dates must start somewhere, then adjust periodically according to the type of frequency and number of units.

 

In the case of a Repayment schedule, the scheduled dates start with the Repayment Start date, unless an earlier Fine Tune date is defined in which case it is used.

 

However you can synchronise with a different date by entering a date in Synch.

 

Important. The synch date does not have to be within the calculation range. This means that if you want to synchronise with a person's fortnightly pay-day, and you have a pay slip from two years ago, then you can use that date.

 

The program will synchronise with that date.

 

Example

A repayment plan calculation specifies 1st February 2006 as the First Repayment date, and the frequency is specified as every two weeks because that is how often the debtor receives their pay.

 

1st February 2006 is a Wednesday. You have a copy of the debtor's pay slip dated 12th August 2005 (a Friday). The debtor is paid on Fridays.

 

If you enter 12th August 2005 as the Synch date, the program will calculate the first repayment date as 10th February 2006 (the first payday after 1st February 2006), then subsequent dates will be two weeks after that.