Debt schedules rolled forward with interest calculated
Every facility has its own rate, payment dates, and fees, and the roll-forward that ties them to the GL is usually rebuilt by hand each month. Facility by facility, the Accounting Agent rolls each debt schedule forward, calculates the period's interest, and drafts the entries.
What the Accounting Agent prepares
- A debt roll-forward by facility: opening balance, draws, repayments, closing balance
- Interest calculated with each facility's rate, day count, and payment dates
- Amortization of debt issuance costs over the life of the facility
- Drafted monthly entries for interest expense, accrued interest, and principal movements
- The current and noncurrent split from the repayment schedule, for your review
How it works
- Pull the data. The Accounting Agent pulls loan activity and balances from your ERP and bank data, along with the terms of each facility.
- Prepare the work in your logic and format. It rolls each schedule forward in your structure, applies the facility terms, and calculates interest for the period.
- Review and approve. You review the schedules and entries, then approve. The entries post to your ERP only once you approve them.
What stays in your control
- Facility terms, rates, and classification decisions stay with your team
- Interest and principal entries post only after approval, with the schedule attached
- Every balance ties back to the loan activity and terms behind it
Standard note
ASC 470 covers how debt is presented and classified, including the split between current and noncurrent, while IFRS 9 measures most borrowings at amortized cost using the effective interest method.
FAQ
What is a debt roll-forward?
It reconciles each borrowing from opening to closing balance through draws, repayments, and other movements, and supports the interest recorded for the period.
Can it handle variable interest rates?
Yes. You provide the rate for each reset period, and the Accounting Agent applies it and shows the calculation in the working paper.
Is a debt roll-forward the same as covenant monitoring?
No. The debt roll-forward prepares balances and entries. Testing covenants against period results is a separate task, covered on the debt covenant monitoring page.
