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Start in Borrowers. Open the demo, choose Borrowers, and look for an existing borrower.

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Add a borrower and start a loan. Add Sample Borrower. In Loans, choose New loan and select the borrower.

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Enter the amount and terms. Enter ₹1,00,000 lent on 1 September, at 12% annually using Actual days / 365.

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Save the loan and open Payments. Review and save the loan. Open Payments received and enter ₹2,000 received on 1 October.

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Review the repayment split. Apply ₹986.30 to interest and ₹1,013.70 to principal. Review and confirm the payment.

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Check the statement and ledger. Check ₹98,986.30 remaining principal. Compare the borrower ledger with Excel using the same cutoff date.