Infovion JMS · Finance add-on
Money lending software
Finance files collected by the day or week, interest loans with your own interest rules, a due list for each collection agent, and books that close every evening. Next to the jewellery shop, or on its own.
What does money lending software do?
Money lending software keeps a lender's loan book: who was given how much and on what terms, every collection and fee with a receipt, what each borrower still owes, which instalments are overdue, and the lender's cash and profit. The Finance add-on of Infovion JMS handles two kinds of loan, finance files (a fixed amount collected back in instalments, with the interest deducted when the money is given) and interest loans (interest every month on the principal outstanding, with the principal repaid later), and keeps a cash book, a day close and a profit and loss statement from the same entries.
Finance files
- File amount, amount handed over, and the interest deducted up front
- Collection every day, Monday to Saturday, every week, every 2 weeks or every month
- Instalment plan with arrears and missed instalments
- Collections count towards the deducted interest first, then the principal
- Or no schedule: collect by a date
Interest loans
- Rate per month or per year, simple interest
- Counted in full months or by days
- Your rule for a part month: none, full, half up to 15 days, or by days
- Optional cap on total interest as a % of the principal
- Top-ups on the same loan; principal due at maturity on a fixed tenure
Collections and charges
- Due list by agent or line, with a printable collection sheet
- WhatsApp reminders in the borrower's language
- Processing fees, late fees from your own rule, waivers and write-offs
- Settle a loan in one go from a quote
- Numbered receipts, statements and a no-dues certificate
- Wrong entries voided with a reason, never deleted
Books
- One cash book across sales, udhaar, girvi, loans, partners and the day book, on the cash or bank side
- Day book for income, expenses, capital, drawings and cash ↔ bank transfers
- Day close with a note-by-note cash count, and the day locked
- Profit and loss: interest, fees, expenses, bad debts and partners' share
- Partners who put in capital and share profit
- Books locked up to a date; exports for Excel
Gold release and buying
- For gold a customer has pledged with a bank or gold loan company
- Nine steps from enquiry and bank payoff to release, testing, settlement and resale
- Buy the gold, or release only and charge a service fee
- Fine gold (24K) worked out from net weight and purity
- Agreement and settlement printed in the customer's language
- Actual profit on every case, and every rupee in the cash book
Not included
- Loans are not in the Tally export yet: use the Excel exports
- No online payment collection from borrowers
- The add-on does not check whether you need a money-lending licence; it keeps the records and your licence number
| File amount (collected back) | ₹20,000 | |
|---|---|---|
| Interest deducted up front | ₹3,000 | |
| Cash handed over | ₹17,000 | |
| Daily collection | 100 days × ₹200 | ₹20,000 |
| Interest earned when fully collected | ₹3,000 |
Figures for illustration. The first ₹3,000 collected counts towards the interest, then the principal.
FAQ
Frequently asked questions
What is the difference between a finance file and an interest loan?
A finance file is a fixed amount collected back in instalments, such as ₹200 a day for 100 days on a ₹20,000 file, with the interest deducted from the money handed over. An interest loan earns interest every month on the principal outstanding, and the principal is repaid later in one go or in parts. JMS handles both, with their own statements and receipts.
How does JMS calculate interest on a loan?
Simple interest, at a rate per month or per year. Interest can be counted in full months, on the principal at the start of each month, or by days. You choose what happens when the principal is repaid part-way through a month, and can set a cap on total interest as a percentage of the principal. Each new loan copies the rules from Settings, so later changes never alter running loans.
Can each collection agent get their own list?
Yes. Every loan can be given an agent or line. The due list filters by agent and prints a collection sheet with each borrower's instalment and arrears.
Can money lending be used without the jewellery shop?
Yes. The Finance add-on keeps its own books and can be the only part a business uses, but it runs inside JMS, so the shop account is the starting point. Talk to us to have it switched on.
Is a licence needed to lend money?
In India, money lending is regulated by state money-lenders acts, and the rules on licences, interest limits and records differ by state. Please check what applies in your state. JMS keeps the records, receipts and statements, and the interest cap can be set to match a legal limit.
What is gold release and buying?
Some customers have their gold pledged with a bank or gold loan company and want to sell it. The jeweller pays off the loan, takes the gold out, weighs and tests it, and either buys it, paying the customer what is left after the loan and charges, or hands it back for repayment and a service fee. JMS tracks each case through nine steps and shows the real profit.
See Infovion JMS on a free demo call
Ask us to switch on the Finance or Gold release add-on in your JMS shop, or book a free demo to see loans, schedules and the cash book.