While there are many accounting uses for Excel, we don’t recommend using it as your primary bookkeeping software to track your cash flow and classify your income and expenses. Select Enable Editing in Excel to view the full report. If you’re missing data when you open the report in Excel, it’s likely that the file is in a protected view. Ending Balance: It’s the balance of the loan after deducting the principal amortization.Principal Amortization: It’s the portion of installment payments that is deducted from the beginning balance of the loan.Interest: It’s the amount of interest expense based on the beginning balance of the loan.This cell changes dynamically if you choose a payment frequency. Payments: It’s the installment payment you need to pay based on the payment frequency.Beginning Balance: It’s the balance of the loan at the beginning of the payment period.Date: It refers to the date when payment is due.For example, period 1 pertains to the first payment while period 6 pertains to the sixth payment. Period: It is the ordinal number corresponding to the number of payment periods.The amortization table contains the following information: Take note that the maximum loan term in this template is 40 years. All you need to do is fill out the yellow cells and Excel will generate the table automatically. The template is a dynamic amortization table, and it adjusts based on the number of payment periods and terms.
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