Value Proposition:
This template makes the loan “closeable” every month without discrepancies:
Opening Balance → Interest → Payment → Principal → Closing Balance.
It addresses two recurring issues: (1) accrued interest at month-end, (2) separating principal from interest in the payment entry.

In 20 seconds: What will you get?

• Loan Amortization Schedule: A schedule of loan installments up to the final payment.
• Loan Interest Calculation: Interest per period (fixed/variable) + Day Count basis (optional).
• Loan Payment Schedule: Payment split into Principal & Interest automatically.
• Remaining Loan Balance: Remaining balance after each payment with verification that it reaches zero.
• Payment Types: Support: Fixed installment / Fixed principal / Balloon / Early repayment (optional).
• Rate Reset (optional): Dates for rate changes for variable loans and updating interest thereafter.
• Accrued Interest (Cut-off): Calculation of accrued interest at month-end if the payment is mid-month.
• Interest Journal Entry: JE Pack: Accrued interest + Payment entry + Reversal of accrual upon payment.
• Dashboard: Total expected interest, upcoming installments, and remaining principal.