Setting up the schedule and recording amortized payments has never been easier.
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Setting up the schedule and recording amortized payments has never been easier.
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Simply enter a start and end date, and Airbase will generate the full schedule.
The schedule of the booking will be displayed with the total amount split equally in each time period. Once approved it will be in the system for automatic syncing to the GL.
The amortization schedule is calculated based on straight-line, prorate first & last period method. The first and the last months in the amortization schedule are prorated based on the number of days within the contract period.
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Airbase will initially record the amount paid against the pre-payment account. At the end of each month, entries will be automatically created to record the monthly expense amortization. Accounting teams can rest easy that the GL will be accurate.
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Keep track of all the pending entries for the amortized expense by viewing in Airbase. Eliminate manually tracking spreadsheets.
Airbase integrates with the Native Netsuite amortization feature, so you can leverage a broad range of amortization schedules and structures. If you have more complex schedules that you need to support, and if you are a NetSuite user, we harmonize with their library of templates to meet your needs.
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“Airbase has streamlined the bill pay process for us. Requests are easy to set up and get into approvals. Sending requests to other business partners who need to approve that spend is a lot easier. It’s very user-friendly.”
