> For the complete documentation index, see [llms.txt](https://daak2.gitbook.io/daak-help/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://daak2.gitbook.io/daak-help/installments-and-fixed-deposits/installment.md).

# Installments

## Create an Installment Plan

1. Open **Installments** and tap **+** at the top right.
2. Choose **Purchase Installment** or **Debt Installment**. You can also open an existing expense and choose **Convert to Installment**.
3. Enter the principal, number of periods, annual interest rate, first payment date, and repayment account.
4. Choose the repayment calculation and interest method.
5. Review the schedule and save.

| Setting                      | Use                                                                                               |
| ---------------------------- | ------------------------------------------------------------------------------------------------- |
| Fixed Amount                 | Records the amount supplied by the bank for each period                                           |
| Equal Principal and Interest | Keeps the total payment relatively stable each period                                             |
| Equal Principal              | Keeps principal fixed while interest changes each period                                          |
| Monthly Interest             | Calculates each period using a monthly rate                                                       |
| Actual Days                  | Uses the actual number of days in each period; useful when the first period has an irregular date |

## Record a Repayment

1. Tap an installment plan to open its details.
2. Choose an unpaid period.
3. Confirm the principal, interest, paying account, and date.
4. Saving marks the period as paid and creates the related record.

## Adjust a Plan

| Action                         | How to use it                                                                             |
| ------------------------------ | ----------------------------------------------------------------------------------------- |
| **Adjust Periods**             | Review or change the principal, interest, and date for each period on the edit page       |
| **Pay Off Early**              | Record the remaining principal and related fees                                           |
| **Restore Credit**             | Configure how a credit-account installment restores available credit after repayment      |
| **Restore as Standard Record** | Keep the original expense and delete the installment plan and its other repayment records |
| **Ended**                      | View ended or paid-off plans at the bottom of Installments                                |

{% hint style="danger" %}
Deleting an installment plan and its related records cannot be undone. Deleting the original installment record also deletes its plan and related records.
{% endhint %}