pmacduff Posted November 29, 2017 Posted November 29, 2017 ok - for you long time Relius users: Prior to version 18 (I think) when the loan specs and info were separate on the "Data Entry" flag, you could model a loan for a participant and generate an amortization schedule without having to set up a loan. This was helpful for participants who were looking for the different repays for different time periods. I understand that the loan setup info has been moved to the participant census screens. Is there still a way to "model" a loan and generate an amortization without setting the loan up? Thanks in advance!
Tom Poje Posted November 30, 2017 Posted November 30, 2017 lady macduff - can't help you with Relius on loans since we don't really use that feature, but here is an excel sheet we use. seems to work pretty well (famous last words). just choose the tab you want for whatever period. 'prettying up a report' is up to you loan amortization schedule copy.xls
hr for me Posted November 30, 2017 Posted November 30, 2017 I didn't open Tom's but back in the day when I did recordkeeping and processed loans, we also had a loan amortization worksheet. It came out pretty close to our recordkeeping system and we caveated to participants that these were estimates or models only. I actually still use the same worksheet for personal reasons (mortgage, car loans, etc). Since Tom posted his, I won't attach mine (it was created by actuaries at the large HR consulting firm I worked at)
Bird Posted November 30, 2017 Posted November 30, 2017 Agreed; we have a template like that and pull it up for loan modeling. There are lots of online calculators too but I'd rather go directly to a spreadsheet that I have confidence in. Ed Snyder
pmacduff Posted December 6, 2017 Author Posted December 6, 2017 Thanks all for your responses! I did know I could get/create a spreadsheet to do this, but have found differences in the per payroll amounts between those and what Relius computes. Granted they are usually very small differences, but when you are preparing all the paperwork it is much easier if it matches up!
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