How to manage money lending business in Book Keeper?

You can use Book Keeper to manage money lending businesses. Suppose you give loans to customers and then earn interests on this loan amount.

You need to create below entries:
1. Invoice: when you lend the amount to a customer. You can add interest amount also here.

2. Journal: for transferring the amount deducted from Sales to Bank account. This entry is required because you actually paid the amount from your Bank.

3. Journal: for adding interest amount to the original loan amount. This will increase the amount that the customer owes.

3. Receipt: when loan is repaid by the customer. You need to setoff this receipt against the original loan amount and the interest charged.

Various reports you can view:
1. Interest Calculation Report
2. Outstanding Receivable Report
3. Ledger/Account Statement