CPA & Accounting:
Exec-Amort™ is used by Public Accountants in commercial transactions that require an amortization schedule where the seller finances the purchase of goods or services.
Exec-Amort™ gives the accounting professional a complete amortization schedule, loan balance, payoff information, periodic interest accumulations and the effects of extra payments and skipped payments.
Public Accountants use Exec-Amort often to answer questions regarding how making a loan change affects the payments to a loan.
The most common questions Exec-Amort helps the Public Accountant answer include:
- How interest rate changes affect payments
- How skipping payments affects a loan
- How changes to the term length affect payments
Exec-Amort™ is also used as a tool to help determine the amount of mortgage interest expense that occurred during a given time frame.
Useful when private transactions require an amortization schedule, such as when a marriage occurs and each party is a property owner with a home mortgage.