LoanMaster Lite 1.00
This system maintains a database of loan and borrower information.
From this store of loan and customer information, the system is able to calculate the interest for each loan as it becomes due. It calculates each payment date and determines if the payment has been made. If the payment has not been made, it marks the loan as past due. If late charges are specified, it assesses the late charge. When payments or late charges are paid, it determines if the amounts paid were less than, equal to, or greater than the amounts due. If the amounts paid are greater of less than the amounts due, it keeps up with the past due or prepaid amounts.