Loans Given & Taken

The lending engine every trade can switch on. Given is money you lend (to customers, staff, subscribers, members); Taken is money you borrow (from a bank or a financier). A loan has terms, a schedule of instalments, payments against it, guarantors, cheques and documents. A finance business is built on this module; see Finance / Loans.

Plan. Advanced plan, full-access users, with the loan permission for creating loans and edit-loan-payment for correcting collections.

Where it is in the app

POS page: Vouchers > Loans > Given / Taken, and for trades that finance something (cable, gym, construction) a promoted Loans menu with the loan reports. Shells: Loans (Given, Taken) and Loan Reports in Navigation, Loan Party Statement in Quick Actions. Jewellery's Gold Loan is a loan with a pledge attached.

Lifecycle

flowchart TD
    A[New Loan: 4 steps] --> A1[1 What is lent: party · principal · category
vehicle or gold details]
    A1 --> A2[2 When it returns: duration · frequency · due day · start]
    A2 --> A3[3 What it costs: interest type · rate · basis · fees]
    A3 --> A4[4 Hand-over: disbursement tender · guarantors · cheques · documents]
    A4 --> L[(The loan and its terms)]
    L --> SCH[(Instalment schedule drawn)]
    SCH --> DUE[Upcoming Dues · Overdue Instalments]
    DUE --> C[Collect: instalment · split prefilled · late fee]
    C --> P[(Collection recorded · instalment settled)]
    L --> CHQ[Post-dated cheques] -->|bank / bounce| P
    L --> EXT[Extend / renew] --> L
    P --> Z{Principal zero?}
    Z -->|yes| CL[Closed]
    Z -->|no| DUE
    DUE --> WA[WhatsApp reminder]

The schedule is rebuilt from the terms whenever the loan is edited or synced, so every device agrees on the instalments.

Terms explained

Term	Meaning
Interest type	Flat (on original principal), reducing balance (on outstanding), or simple interest to date.
Rate basis	Per month or per annum.
Frequency	Monthly, weekly, daily, or every N days; EMI due day for monthly.
Fees	Processing fee, late fee rules, bounce fee; kept as fee config on the loan.
Loan category	Personal, vehicle (with vehicle details), gold (with pledge details), business, and so on.
Renewal of	A new loan that replaces an earlier one keeps the link.
Pre-existing loan	Entered with its original terms and the instalments already paid, so the schedule reproduces the agreement.

When they don’t pay

flowchart TD
    A[Instalment falls due] --> B{Paid?}
    B -->|yes| C[Schedule row settled]
    B -->|no| D[Overdue Instalments list]
    D --> E[Reminder: call or WhatsApp]
    E --> F{Pays now?}
    F -->|yes| G[Late fee if the terms allow] --> C
    F -->|no| H{Cheque held?}
    H -->|yes| I[Bank the cheque]
    I --> J{Cleared?}
    J -->|yes| C
    J -->|no| K[Bounce fee · cheque marked bounced]
    H -->|no| L{Can the loan be restructured?}
    L -->|yes| M[Extend or renew: new schedule]
    L -->|no| N[Escalate · recover against security]
    K --> L

Every step here is recorded on the loan, so what was tried and when is answerable months later.

Settings & permissions

The loan module is on by default for finance, cable and a few lending trades and can be switched on for others.

Permissions. Two are shared by every trade that lends — Create & Edit Loans and Edit Loan Payments — and sit in the Finance group of Settings > Manage Users. A lending business gets nine more beside them (collect, collect for others, receive agent cash, assign rounds, waive, foreclose, move cheques, write off, and view portfolio money); see Finance / Loans for what each one opens. All of them are on by default for a user who could already do the job.

Reports

Overdue Instalments, Loan Ageing, Upcoming Dues, Cheque Register, Collections, Agent Collections, Party-wise Loans, Loan Register, Expected Inflow, Monthly Summary, Loan Party Statement.

The same list everywhere: a lending business gets one menu entry per report, every other trade gets it as a Loan Reports tile page. The money reports need View Portfolio Money, and Agent Collections also needs Route Collection switched on.