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Loan amortization schedule with the balance sheet split.

What is this money worth, or what does it cost, over time?

Payment, interest and principal for every period, extra payments, and the current and long-term portions at the balance sheet date. Copy the full schedule as CSV.

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Loan terms
Extra principal payments (optional)
Scheduled monthly payment
$1,933.28
60 payments
Total interest
$15,996.84
Total paid $115,996.84
Payoff date
01/15/2031
Balance sheet classification at 12/31/2026
Carrying principal
$83,834
After payments on or before this date
Current portion
$18,677
Principal in the next 12 payments (12 months)
Long-term portion
$65,156
Carrying principal − current portion

Current maturities of long-term debt are the principal contractually due within one year of the balance sheet date (ASC 210-10-45-9). Voluntary extra payments are not obligations, so they are left out of the current portion. Accrued interest since the last payment is a separate current liability. If a covenant is breached and the debt is callable at the balance sheet date, the whole balance may be current under ASC 470-10-45-11 unless the lender's waiver meets the conditions.

Amortization schedule
No.DatePaymentInterestPrincipalBalance
102/15/2026$1,933.28$500.00$1,433.28$98,566.72
203/15/2026$1,933.28$492.83$1,440.45$97,126.27
304/15/2026$1,933.28$485.63$1,447.65$95,678.62
405/15/2026$1,933.28$478.39$1,454.89$94,223.73
506/15/2026$1,933.28$471.12$1,462.16$92,761.57
607/15/2026$1,933.28$463.81$1,469.47$91,292.10
708/15/2026$1,933.28$456.46$1,476.82$89,815.28
809/15/2026$1,933.28$449.08$1,484.20$88,331.08
910/15/2026$1,933.28$441.66$1,491.62$86,839.46
1011/15/2026$1,933.28$434.20$1,499.08$85,340.38
1112/15/2026$1,933.28$426.70$1,506.58$83,833.80
1201/15/2027$1,933.28$419.17$1,514.11$82,319.69
How this was worked out
Work shownrecomputed as you type
Periodic rate r = 6% ÷ 12 payments a year = 0.50000%
Number of payments n = 60 months ÷ 12 × payments per year = 60
Payment = P × r ÷ (1 − (1 + r)^−n) = $100,000.00 × 0.005000 ÷ (1 − 1.005000^−60) = $1,933.28
Each row: interest = opening balance × r (to the cent); principal = payment − interest; the last payment clears the balance.
Long-term = $83,833.80 − current $18,677.41 = $65,156.39

Uses the nominal annual rate divided by the payments per year, rounds interest to the cent each period, and treats the final payment as a plug. Lenders may use actual/360 or actual/365 day counts, which change interest slightly. Use the note's terms and the lender's statement for the audit balance.

Using the schedule in the audit file

Debt testing has three numbers that come straight off an amortization schedule: the carrying principal at year end, the interest expense for the year, and the principal due in the next twelve months. Recompute the schedule from the note agreement (rate, term, payment frequency, first payment date), agree the year-end balance to the lender confirmation, and use the split for the balance sheet presentation.

Current maturities of long-term debt are current liabilities (ASC 210-10-45-9). The ordinary split is not the whole classification question: debt that is callable at the balance sheet date because of a covenant violation is current under ASC 470-10-45-11 unless a qualifying waiver exists, and short-term debt refinanced after year end follows ASC 470-10-45-14. Pair this with the DSCR calculator when covenants are in play.

Common questions

How is a loan payment calculated?

For a level-payment loan, payment = P × r ÷ (1 − (1 + r)^−n), where P is the principal, r is the annual rate divided by the payments per year and n is the number of payments. $100,000 at 6% for 60 monthly payments gives $1,933.28.

How do I find the current portion of long-term debt?

Add the principal portion of every payment contractually due within 12 months after the balance sheet date. The rest of the carrying principal is long-term. Current maturities of long-term debt are current liabilities under ASC 210-10-45-9.

When is all of a long-term loan classified as current?

When the debt is due on demand or callable at the balance sheet date, for example after a covenant breach, it is current under ASC 470-10-45-11 unless the lender has waived the right for more than one year (or the grace-period conditions are met).

Do extra payments change the current portion?

Voluntary prepayments are not obligations at the balance sheet date, so this calculator leaves them out of the current portion. Extra payments do shorten the schedule, cut total interest and move the payoff date earlier.

Why does my lender statement differ by a few cents?

Lenders may compute interest on actual days over 360 or 365 rather than a twelfth of the annual rate, and round differently. Agree the audit balance to the lender confirmation, then use the schedule to test the split and interest expense.

Runs in your browser. The figures you type are not sent to CORAA or stored. Check the result against your firm's methodology before relying on it.

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