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4.1.8. Impounds Information

Figure 4-13

Impound Payments

Enter the number of disbursements in a year. For example, property taxes paid twice a year

would require entry of a "2" in this field. Disbursement dates are automatically computed by

dividing the number of disbursements indicated in this field into 12 months. For example, in the

property tax example above 12 months / 2 months = 6 months. Therefore DocMagic would

compute a second disbursement 6 months after the first date entered in the Due Date field. If

multiple disbursement dates are not as easily computed as described above, simply press "Due

dates" header in the Impound Due Date field and enter the disbursement dates, as they should be.

Once this data is added, simply hit the tab key and DocMagic will auto-calculate the Payment

Amount, Monthly Inflow and number of months based off of your due dates.

Aggregate Adjustment

If an aggregate adjustment is necessary, accept the default figure shown below. To view the

result of the aggregate adjustment or simply to see a monthly accounting of the impound

account; simply click the calculator icon next to the Aggregate Adjustment field.

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