Open a matter and click Amortisation Calculator in the Amortisation group of the LEAP ribbon.

Once loaded, you will be presented with the Regular schedule calculator. Any loan details already recorded on the matter will be pre-filled for you.

Choose the calculator you need from the tabs across the top of the app: Regular schedule, Extra repayments, Variable rate, Interest only, Early payout or Quick calculator.

Each calculator (other than the Quick calculator) has two views. Use Loan information to enter the loan details and Schedule to view the repayment schedule.

Enter the Date for first repayment, Principal, Annual interest rate, Repayment frequency and Loan term. The repayment amount is calculated for you as soon as the details are complete.

Use the Loan adjustments panel to record Prepaid interest, which is deducted from the principal, and Additional loan charges, which are added to it. Click + Add fee to add a charge, enter a description (e.g. PEXA fees) and the amount.

The Amount financed is calculated for you and is used as the basis for the repayment schedule.

Record the name of the Mortgagor and any Comments about the calculation. Both are included on the schedule when you save it to the matter.

A summary of the key figures is shown below the loan details, including the Amount financed, repayment amount, Number of repayments, Total interest and Total repayments. Additional figures, such as Interest saved and Payout figure, are shown for the calculators they apply to.

Click Schedule to view the full repayment schedule. Each row shows the repayment No., Date, Repayment, Principal, Interest, Principal remaining, Prepaid interest remaining and Interest rate, with the number of repayments and total interest shown above the schedule.

Enter an Extra repayment amount per period to see how paying more than the regular repayment affects the loan. The calculator shows the Base regular repayment, the reduced Number of repayments and the Interest saved.

Click + Add rate change, then enter the date the new rate Applies from and the New annual rate. You can add as many rate changes as you need.

At each rate change, the repayment is recalculated so the loan is still repaid over its original term.

The Interest only calculator shows the Interest-only repayment for the loan. Repayments cover interest only, and the principal falls due with the final repayment at the end of the term.

Enter a Payout date to calculate the Payout figure required to repay the loan early, along with the Total interest paid to payout.

Use the Calculate for field to choose what you want to solve for: Repayment amount, Principal, Interest rate or Loan term. Complete the other three fields and the repayment frequency, and the result is shown below.

Click Save to matter to save the amortisation schedule to the matter correspondence as a PDF document. The PDF includes your firm name, the matter, the mortgagor, the date and time it was generated, the loan details and summary, the full repayment schedule and any comments.

Your calculations are saved automatically and restored the next time you open the Amortisation Calculator on the same matter.

Click Refresh to retrieve the latest loan details from the matter and reset the current calculator, or Clear to remove the details you have entered.