Odoo
Implementation
Loan Managment System | Advance Loan Management | Complete Loan Management System
by Creyox Technologies https://www.creyox.com$ 500.00
Availability |
Odoo Online
Odoo.sh
On Premise
|
Odoo Apps Dependencies |
•
Contacts (contacts)
• Discuss (mail) • Invoicing (account) • Website (website) |
Lines of code | 3848 |
Technical Name |
cr_loan_management |
License | OPL-1 |
Website | https://www.creyox.com |
Versions | 16.0 17.0 |
Availability |
Odoo Online
Odoo.sh
On Premise
|
Odoo Apps Dependencies |
•
Contacts (contacts)
• Discuss (mail) • Invoicing (account) • Website (website) |
Lines of code | 3848 |
Technical Name |
cr_loan_management |
License | OPL-1 |
Website | https://www.creyox.com |
Versions | 16.0 17.0 |


Loan Management System
Overview
The Loan Management System in Odoo is a module designed to streamline and automate the processes involved in managing loans within an organization. It offers tools for tracking loan applications, setting loan terms, managing interest rates, scheduling repayments, and handling overdue payments. Additionally, the Loan Management System module provides a comprehensive solution for managing all aspects of loan administration.
This module allows organizations to define loan terms with flexibility, customized interest rates, repayment schedules, and payment methods according to specific business requirements. In addition to basic loan processing, the module is designed to handle more advanced functions like interest rate management, enabling dynamic adjustments based on market conditions or borrower profiles. The Loan Management System also provides a seamless way to schedule repayments, generating automatic reminders to ensure timely collections, while also monitoring overdue payments to reduce delinquencies.
Hot Features
Features
Loan Management Backend Flow
- User will see Loan Dashboard App.

- Navigate to Settings >> Users & Companies >> Users & open user there under Access Rights >> Other, Loan App access rights with Banker & Manager dropdown.

- Navigate to Settings >> Loan Management here user will find all the configuration of Loans Accounts, Products & Bad Debt Accounts For Loans and loan installment reminder.

- Further clicking on Loan App user will see Properties menu clicking on it will display all the product.

- Opening the product there will be field Product Type there new selection Property.

- When user opens Loan App and click on New, record asking field data will be created.
- The state of loan will be in Draft and Compute Installment, Approve Loan buttons.
- NOTE: Approve Loan button will only be visible to user with Manager access rights.

- While entering data if user miss any required field it will show a validation message for that field.
- Now when user clicks on Compute Installment it will create/generate the
installment
records based on Following:
- Loan Amount
- Down Payment
- Rate
- Rate Duration
- Interest Type
- Start Date
- No. Of Installment
- The Installment record will have details like Sequence, Due Date, Pending Principle, Principle, Loan Principle, Interest, Total Amount, Amount Due & Paid On

- Here user can also select the Rate Duration other then Yearly like Monthly, Weekly or Daily and based on it the Rate Per Month will be automatically updated.
- Similarly Interest Type can also be set to Floating and the required changes in Rate Per Month will reflect accordingly.

- Now when user with access rights of Manager Approves the loan Invoice for Down Payment will be created also user will see Postponed Installment, Extra Payment, Get Loan Report & Close Loan buttons.
- The state of loan will be changed to Approved and there user will also see Smart buttons for Journal Entries, Invoice, Payments, Principle Paid, Transaction.
- NOTE: The button Set To Draft will only be visible to user with access rights of Manager.

- Clicking on Journal Entries smart button will open a journal entries again the loan record with label as loan name.

- Similarly clicking on Invoices smart button will open a Invoice created against the loan record with payment reference as loan name.

- Similarly clicking on Payments smart button will open a Payments created against the loan record.

- Similarly clicking on Transaction smart button will open a Transaction created again the loan record.

- When user clicks on the navigation button at the end of record of installment it will create an Invoice with Property Insurance, Property Tax, Principle & Interest of that record.
- Once invoice is created user will see another button with book icon clicking on it wil open the invoice created for that particular installment record.
- If for some instance user miss any of the installment payment then 2% of the principle will be applied to payment of that particular installment with a validation message.


- When user will click on Get Loan Report user will see a pop-up asking to select either Generate PDF Report or Generate Excel Report.

- User can generate invoice of all the installment records that has due date till today.
- Here current date is 09/19/2024 so invoice for installment record with sequence 2 and due date as 09/01/2024 is created.

- In some interval of time user wants to postponed the installments due to any reason, user can click on Postponed installment followed by selection By Certain Amount of Days or By No. of Months also filling the Postponed Date & Reason, Finally click on Postponed will update the Due Date of installment record having due date after the one entered in Postponed Date.
- Also user can reset the Installment Due Date to original due date.

- User can see the changes done in Installment record from Installment Changes Page with record Sequence, Old Due Date & New Due Date.

- In some interval of time user wants to pay extra then on clicking Extra Payments user will see a pop-up asking Payment Type, Selecting Settle Next Due Installment will create a invoice for the installment record next due, Where as selecting Settle Only Principle will create invoice for only the Principle amount of the installment record next.

- User can update the Rate if the rate type is Floating.
- Click on Update Rate button appearing beside the rate field will open a wizard asking for Update The Rate, further clicked on Update will send a email with old and new rate changes to the customer and also update rate in the loan record.
- User see the mail sent to customer from Settings >> Technical >> Emails.

- Now lastly when user want's to Close the loan, User need to click on Extra Payments then simply tick the Close Loan checkbox, enter Amount To Pay and click Pay, Closed ribbon will appear in record also the state will be changed to Closed.
- Here if user is settling the loan before the loan tenure then Foreclosure charges will be applied to the pending principle.
- Also, all the necessary documents like Acknowledgment Letter, Closing Certificate, NOC Certificate, No Due Certificate and Loan Details are attached and sent into mail of Loan closing.


Our Services
Loan Management Portal Flow
- User can request for loan from website Loan Report menu.
- Further user will see a Loan Request form asking some details.
- On clicking Submit will create a loan request record which further manager will review.
- Once the loan request is reviewed by manager and confirmed will create a loan record will all details.
- Once the loan record with loan requesst details i created will have to add some required details and the loan can be approved.

- User can Preview the loan record in Portal view by clicking on Preview Loan button from loan record.
- Clicking on Preview button will open a portal view of that particular loan record with side panel showing total loan amount and View Details button that will show the PDF report of Loan Details.
- User can access the loan records from portal menu Loans followed with a list view of loan records, which further clicking on Loan Orders will show a portal view of that particular record.
- Further user can navigate to Next & Previous record of loan by clicking on navigation buttons on right side.
- User can also go back to loan dashboard in backend by clicking on Back to Edit Mode showing in a coloured panel on top.


Our Services
- Yes, this app works perfectly with Odoo Enterprise (Odoo.sh & On-Premise) as well as Community.
- No, this app will not work for Odoo Online.
- Please contact us on support@creyox.com
- Yes, we give free support when you buy these app for 60 Days.
- Yes, you need to pay different prices of app version wise.
- You can raise a Ticket on support@creyox.com we'll get back to you with fixes.
Our Services
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
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