Recording repayments keeps every loan in Lendbox accurate. Each time a borrower pays, you enter the repayment against their loan, and Lendbox updates the rest automatically. This guide shows you how to record a single repayment from start to finish.
It only takes a moment, and you just need the repayment amount on hand.
Step 1: Open the Loans area
In the left navigation panel, click Loan Management, then click Loans.
Step 2: Select the loan
Click on the loan you want to record a repayment for. This opens the loan details page.
Step 3: Open the Repayments tab
On the loan details page, click the Repayments tab. This tab shows every repayment that has already been recorded for that loan.
Step 4: Add a new repayment
Click the Add Repayment button to start entering a new repayment record.
Step 5: Enter the repayment details
Insert the repayment amount, and optionally add a description of the repayment for your records.
Step 6: Save the repayment
Click Save to finalize and store the repayment record in the system.
Done
Your loan repayment has been recorded. Lendbox automatically updates everything about the loan for you — the outstanding balance, total payments made, and the loan status — so your records are always accurate and up to date.