We are trying to do beginning balance data migration for some lease schedules with “Ordinary annuity” as the annuity type.

The cut-off date is 1-Feb-2024, and the payment should fall on the 5th of February of each month.

We cannot use Jan 2024 as the start date because in that case the liability schedule will start in Jan instead of Feb, which is incorrect.

Hence, we tried to enter Feb payments as a standalone line with the below 2 methods. However, the result payment schedule generated for these methods both have some unexpected results:

Method 1: First payment schedule line start date on 4-Feb-2024, with Days as period interval and Monthly as Payment frequency. The result payment schedule has the first two payments both fall in March 2024, when we actually expect one in 5-Feb-2024 and another in 5-March 2024.

Method 2: First payment schedule line start date on 1-Feb-2024, with Days as period interval and Monthly as Payment frequency. The result payment schedule has the first payment at the end of Feb, i.e. 29-Feb-2024, when the expectation is 5-Feb-2024.

We've been told by Support this is a system limitation due to the minimum payment frequency that can be selected is month, not day. Hope we can have more flexible payment schedule options for data migration, because "Ordinary annuity" is a quite common annuity type in practice.