Odoo 18 Accounting provides a comprehensive loan management system that allows you to effectively track and manage loans within your organization. Here are the key features and functionalities of loan management in Odoo 18 Accounting:
1. Loan Creation and Management:
– Create new loans with detailed information such as loan amount, interest rate, repayment schedule, and loan type.
– Assign loans to specific customers or employees.
– Track the loan status (e.g., pending, approved, active, closed).
2. Loan Repayment Schedule:
– Define the repayment schedule for each loan, including the frequency of payments (e.g., monthly, weekly, bi-weekly).
– Set up automatic reminders for loan repayments.
– Calculate interest and principal amounts for each payment.
3. Interest Calculation:
– Choose from various interest calculation methods, including simple and compound interest.
– Accurately calculate interest based on the loan amount, interest rate, and repayment schedule.
4. Loan Amortization:
Generate detailed loan amortization schedules, showing the breakdown of principal and interest payments for each installment.
Analyze the loan’s repayment progress over time.
5. Loan Write-offs:
– Write off loans that are deemed irrecoverable.
– Record the write-off amount and reason for the write-off.
6. Loan Reports and Analytics:
– Generate various reports to analyze your loan portfolio, such as:
Loan aging reports
Loan delinquency reports
Loan profitability reports
Loan portfolio summary reports
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