Make Repayment.

In this section of the manual, you will know how to make repayment.

What do you understand by Repayment?

Repayment refers to the act of returning borrowed funds or fulfilling a financial obligation according to the agreed terms and conditions. It involves making regular payments, usually in the form of installments, to repay the principal amount borrowed plus any interest or fees charged.

1. Once you click on any active loan account (for example: Vehicle), you will see the below screen containing different tabs. Click on ‘Make Repayment’.

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2. Once you click on ‘Make Repayment’, you will see the below screen. It contains the following fields:

• Transaction Date: It refers to the date of transaction.

• Repayment Amount: It refers to the amount of repayment.

• Payment Type: It refers to the type of payment. For 'Payment Type', you will see various options to choose from as shown below. Select any one and proceed.

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• Remarks: It refers to the remarks/short notes.

Fill all the mandatory fields as required and click on ‘Submit’.