Skip to main content

Payment Schedule & EMI Management

Payment Schedule & EMI Management in PrismERP enables organizations to manage and monitor loan repayment plans with precision. This module is designed to handle recurring payments, adjust schedules based on loan terms, and ensure timely collection and accounting of Equated Monthly Installments (EMIs).

What It Does​

  • Tracks detailed payment schedules for all EMI-based loans.
  • Automatically generates EMI timelines based on loan amount, tenure, and interest rate.
  • Supports rescheduling or adjustment of payments for changed conditions (e.g., partial payments, early settlements).

Key Features​

✅ EMI Schedule Generation​

  • Auto-creates a monthly, quarterly, or custom frequency EMI schedule.
  • Calculates both principal and interest portions of each installment.
  • Supports multiple interest calculation methods:
    • Fixed interest
    • Reducing balance
    • Flat rate
    • Penalty interest (for overdue EMIs)

✅ Real-Time Repayment Tracking​

  • Displays due, paid, and overdue EMIs.
  • Records actual payments and adjusts remaining schedule dynamically.
  • Sends alerts/reminders for upcoming or missed EMIs.

✅ Payment Adjustments​

  • Adjust for partial payments, prepayments, or early closures.
  • Recalculate remaining schedule automatically.
  • Option to waive or reschedule EMIs with audit trails.

✅ Schedule Overview​

  • Timeline view of upcoming and completed payments.
  • Status indicators: Paid, Due, Overdue, Rescheduled.
  • View by loan, customer, branch, or date range.

✅ Integrated with Financial Modules​

  • Updates linked accounts receivable and general ledger.
  • Reflects repayments in loan history and financial reporting.
  • Applies penalty or interest adjustments based on policy.

Common Use Cases​

  • Managing monthly repayments for personal or business loans.
  • Handling EMI schedules for project finance or asset loans.
  • Tracking overdue payments for delinquency control.

With PrismERP’s Payment Schedule & EMI Management, businesses can automate and control loan repayments efficiently—ensuring financial accuracy, regulatory compliance, and operational peace of mind.