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Summary here
Loan Payment Entries
Concepts & Definitions
Repayment entries record each scheduled or actual payment made against a term loan. Each repayment reduces the outstanding principal and records the interest component for the period. The system generates a repayment schedule when a loan is disbursed — these entries represent the individual instalments as they fall due and are paid.
| Term | Definition |
|---|---|
| Due Date | The date the repayment instalment is due |
| Principal Component | The portion of the instalment reducing the outstanding loan balance |
| Interest Component | The portion covering the interest charge for the period |
| Amount Paid | The actual amount received (may differ from the scheduled amount if partial payment) |
| Status | Pending, Paid, Overdue, or Waived |
How To
View and Post Repayment Entries
Navigate to Loan Management → Term Loans → Repayment Entries.
Screenshot: Repayment Entries list showing principal, interest, and payment status columns
- To record a payment, select the entry and click Pay.
- Enter the Payment Date, Amount Paid, and Payment Method.
- Click Post to reduce the outstanding balance and record the interest income.
Use the date filter to view entries within a specific accrual range.