Features · Accounting
Real double-entry accounting, not a spreadsheet bolted on
Every loan, payment and expense hits the ledger automatically: a chart of accounts, journal entries and journal lines that give you audit-ready books without a month-end reconciliation project.
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What is loan accounting software?
Loan accounting software records the money movements of a lending business in a double-entry ledger: disbursements, repayments, interest, fees, expenses and provisions. In LoanTabs, loans, payments, expenses and other income post journal entries automatically, so the loan book and the accounts always agree.
Most lenders start with a loan tracker in one spreadsheet and the accounts in another, or in an accounting package that knows nothing about loan schedules. Every month someone reconciles the two, and the differences take days to explain. Posting to the ledger straight from the loan record removes that reconciliation.
Loans, payments and expenses post themselves
When a loan is disbursed or a repayment is recorded, LoanTabs writes the corresponding double-entry journal, with debits and credits balanced, tied back to the source transaction and ready for an auditor to trace.
Journal Entry · JE-8821
Balanced| Account | Debit | Credit |
|---|---|---|
| Loans Receivable | 1,240.00 | |
| Cash / Mobile Money | 1,240.00 | |
| Interest Income | 186.00 | |
| Interest Receivable | 186.00 |
What a loan lifecycle looks like in the ledger
Typical double-entry postings for a simple loan. The exact accounts follow your chart of accounts.
| Event | Debit | Credit |
|---|---|---|
| Loan disbursed (1,000, no fee) | Loans receivable 1,000 | Cash or bank 1,000 |
| Loan disbursed with a 50 fee deducted | Loans receivable 1,000 | Cash or bank 950 and fee income 50 |
| Interest accrued (10) | Interest receivable 10 | Interest income 10 |
| Repayment received (88.85) | Cash or bank 88.85 | Loans receivable 78.85 and interest receivable 10.00 |
| Provision set aside | Provision expense | Allowance for loan losses |
| Loan written off | Allowance for loan losses | Loans receivable |
This table illustrates double-entry accounting for lending in general. Your reporting framework and accountant decide the correct treatment for your institution.
What the accounting features include
What does LoanTabs accounting cover?
LoanTabs accounting is built around a lender's books. It covers the part that is hardest to reconcile by hand: the loan book, interest, fees, provisions and write-offs, all posted consistently, with period close so a reconciled month stays reconciled.
Deposits and withdrawals ask what the money is for, such as capital paid in, a loan received, rent or a supplier's bill, so they do not wait in Suspense for a journal. You can record a supplier's bill or an accrued cost and pay it in full or in parts, post manual journals between any accounts that reverse themselves on a day you choose, and load opening balances from a file when you start. The cash flow statement reconciles to your cash accounts.
Each institution works in its own operating currency, chosen from about 150, and every report exports to CSV, Excel and PDF, so your accountant or auditor can use the figures in whatever package they prefer. Staff payroll is delivered as a custom implementation on the Custom plan.
Loan accounting software: common questions
Does LoanTabs include accounting?
Yes. It includes a double-entry ledger with a chart of accounts, journal entries derived from loans and payments, cash accounts, expenses, other income, fixed assets and period close.
Can I post manual journal entries?
Yes. Accountants and admins can post and reverse manual journals. Reopening a closed period is limited to admins.
Which financial statements can I produce?
Profit and loss, balance sheet, cash flow, trial balance, general ledger and journal reports, plus the cash ledger, each exportable to CSV, Excel and PDF.
Do I still need separate accounting software?
For the lending business, LoanTabs covers the ledger and statements. Lenders with a wider business often share the exports with their accountant for tax and group reporting.
Keep exploring
- Loan management softwareThe LoanTabs overview: what it does, who it is for and what it costs.
- Online loan management systemRun your loan book from any browser, with nothing to install.
- Loan software guideThe types of loan software, what each does and how to choose.
- Lending software and lending management systemsWhat a lending management system covers, end to end.
- Loan management software for small businessBuilt for money lenders: quick setup, small-team workflow, simple pricing.
- Online loan application softwareTake and process loan applications online, from intake to disbursement.
- Loan management solutionSoftware, setup, migration, training and support in one solution.
- Loan tracking softwareTrack balances, due dates and overdue loans, with an aging example.
- Loan repayment softwareRecord, allocate and receipt repayments, with a worked example.
- Loan loss provisioning and write-offsHow provisions and write-offs work for money lenders.
Keep your loan book and your books in step
Start a 30-day free trial and see a payment post to the ledger as you record it.
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