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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
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