All months same amount. Use Payment Groups for agreements with irregular payments, balloons, or different first/last payments.
Enter one row per payment group, matching the lender's Schedule of Payments exactly. Use the agreement start date and the lender's commencement date per group to set the month number automatically.
Enter each month individually. Month number is auto-sequenced from 1. You can paste or type amounts directly.
FRS 102 mode: The calculator derives the implicit interest rate (IRR) using Newton-Raphson and builds the full amortisation schedule using the effective interest method (FRS 102 s20). Doc fee is treated as a finance cost capitalised into the principal and spread over the term via EIR. VAT and advance rental reduce the amount financed; part exchange reduces it as a deposit equivalent. A prepayment in a later month reduces the outstanding balance — the IRR is fixed at inception, but future interest charges fall as the balance drops, shortening the agreement.
Early Settlement
Enter the month number and the settlement figure from the lender's settlement letter. The calculator will derive the carrying value at that date, post the settlement journal, and flag the difference as a finance charge adjustment. Asset disposal is handled separately in Xero Fixed Asset Register.
Amount Financed
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Total Repayable
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Total Finance Cost
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Effective Annual Rate
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Monthly Rate
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Term
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Amortisation Schedule
Month
Date
Opening Balance
Payment
Interest
Capital
Closing Balance
Monthly Payment Journals
Each journal records the monthly HP payment — split between capital reduction of the HP liability and interest charge to P&L. Post in Xero via Manual Journals.
Day 1 Accounting Journals
Post these journals on the date the HP agreement commences. These set up the asset, HP liability and prepayment accounts on the balance sheet.
Year-End Summary
Shows cumulative position at each 12-month interval — useful for balance sheet split between current and non-current HP liability, and total finance charges per accounting period.
Period
Period Interest
Cumulative Interest
Period Capital
Closing Liability
Current Portion
Non-Current Portion
Early Settlement Journal
Enter agreement details above
The amortisation schedule, journals and year-end summary will appear here once you enter the financed amount and monthly payment.
