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Applying different interest rates across the payment schedule for lease assets — Cloud Customer Connect
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Applying different interest rates across the payment schedule for lease assets

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edited Mar 24, 2020 2:32PM in Assets 3 comments

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Currently you cannot apply different interest rates across the payment schedule for lease assets. This means that you cannot accommodate changes in interest rates in line with the Consumer Price Index. This is a hypothetical scenario for a Leased Asset with a variable interest rate;

Recurring Payment Type Payment Date Interest Due Date Amount Interest Rate No of Payments
Periodic Lease Payment 31-Jan-2020 31-Jan-2020 10000 1.8% 12
Periodic Lease Payment 31-Jan-2021 31-Jan-2021 10000 1.9% 12
Periodic Lease Payment 31-Jan-2022 31-Jan-2022 10000 2.0% 12
Periodic Lease Payment 31-Jan-2023 31-Jan-2023 10000 2.1% 12
Periodic Lease Payment 31-Jan-2024 31-Jan-2024 10000 2.2% 12

Has anyone got any suggestions on how to achieve this? The UI only allows for one interest rate across the Lease Payment Schedule. 

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