Lending Money
Lending Money
Auto-generates instalments (principal + interest) and late fees. Integrates with Sales & Stock modules. Ensures accuracy and saves time.
Common Challenges
Common Industry Pain Points
1. Manual Interest & Installment Calculations are Error-Prone
Without a proper system, staff rely on manual formulas (often using Excel), which leads to inaccurate installment amounts or interest charges, especially when rates or periods vary.
2. No Automated Penalty for Late Payment
Many businesses lack systems to track overdue payments and automatically apply late interest charges, resulting in loss of revenue and poor credit control.
3. Poor Data Consolidation
Lending records, repayments, and customer details are often scattered or kept in physical files, making it difficult to access accurate data or generate meaningful reports.
4. No Standardized Installment Schedule
When loan terms vary by customer, it’s difficult to ensure consistency and compliance in how installment schedules are created, especially without automated logic.
System Necessity
Why a System is Needed
Auto-generate installment schedules based on loan amount, interest rate, and period.
- Automatically calculate and apply late interest for overdue payments.
- Centralize all customer, loan, and payment data for better visibility and reporting.
- Reduce human error, improve trust with customers, and make reconciliation easier for the finance team
Key Modules
Core Function Modules
Loan Setup Module
- Define loan period, interest rate, and principal amount
- Auto-generate installment schedule based on formula
Repayment Module
- Record monthly repayments
- Track outstanding balances
- View repayment history
Late Interest Module
- Auto-detect overdue payments
- Auto-calculate and apply late interest charges
Reporting Module
- Loan summary report
- Customer-wise loan status
- Overdue report
Client Success Stories
Type A
Auto-generate Instalment details based on the Interest Info (Period, Interest & Sum of borrowing)
Instalment amount for each month will be calculated based on the formula given
Auto-generate interest for customer who is late to return the money
Required Module:
Sales Module
Stock Module
Unlock Your Potential Today!
Automate Your Lending Process with Ease
Auto-generate installment plans based on loan terms and calculate monthly payments accurately. Late payments? Interest is applied automatically.
Includes: Sales Module, Stock Module
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