Review contractual payment plans and amounts due
The V1.x candidate adds reviewed contractual payment plans. This guide describes isolated QA behavior; production availability is recorded in release notes. Existing V1 forecasts do not create contractual principal dues.
Choose the borrower and loan
Open the borrower notebook and select a saved loan. Principal outstanding is the funded cash principal still owed; principal currently due is a subset of it. Due now and total outstanding are different amounts.
Preview a payment plan
Choose Preview a payment plan. Enter the effective date, first due date, structure, frequency and number of instalments. Monthly, weekly and quarterly are distinct from every 14 days or twice monthly. Advanced choices include original-day or true-month-end anchors and a short final period. Collection dates are unadjusted civil due dates.
Adopt only reviewed contractual terms
The preview makes no ledger entry. Confirm and save contractual change explicitly adopts the plan after current owner authentication. Earlier loan history is retained; adoption does not invent past missed instalments or cash movements.
Record and review a payment
Choose Record payment. Review the suggested split through interest due, principal due, capitalised interest and charges. Extra principal, advance instalment collection and unapplied credit have different effects. Existing credit can be applied only within the owning lender and currency; it is not another cash receipt.
Review an amendment
Compare Keep payment / finish earlier with Reduce payment / keep end date. A dated rate change or additional advance retains the original plan and creates a prospective version. Existing arrears keep their original dates. An outdated review must be prepared again.
Check your result
- Future interest remains a projection and never becomes earned just because a schedule exists.
- A due-date view includes that day's dues and posted payments. No automatic late charge or regulatory NPA classification is introduced.
- Unsupported backdated corrections across plan versions and non-amortising retained payments are blocked.
- Actual/360 is explicitly selected under the new rules. INR 100,000 at 12% over 31 actual days is 1,033.33; Actual/365 remains 1,019.18.