Adding Financing to an Asset
Bought a vehicle or piece of equipment on a loan? Attach that loan to the exact unit in Rentablez and the app takes over the math — it works out the daily EMI cost, tracks every installment you record, and rolls the numbers up into the Financing dashboard so you always know whether the rentals are covering the repayments.
Financing attaches to a single stock unit — the individual physical vehicle or machine — not to the asset type. That way each van, generator, or excavator carries its own lender, EMI, and repayment history, even when several units share the same asset name.
Before you start. Financing is only visible once your organisation has the Asset Financing subscription module and someone has switched on Enable Asset Financing (EMI) under Settings → Operations. You also need the Financing — Read permission to see loan details, and Financing — Write to add or edit one. If the card is missing, see Overview and Turning It On.
Open the Financing Card
Loans are added from the unit’s stock detail panel, not the Financing dashboard.
- Go to Assets and open the asset whose unit you want to finance.
- Switch to the Stocks tab and click the specific stock unit to open its detail panel.
- Find the Financing (EMI) card. If the unit has no loan yet, it reads “Not financed — Daily EMI: N/A”.
- Click + Add financing.
Fill In the Loan Details
The Add Financing dialog captures the loan header. Here’s what each field means:
| Field | Required | What to enter |
|---|---|---|
| Lender | Yes | Who the loan is with, e.g. “HDFC Bank” (up to 150 characters). |
| Financed Amount | Yes | The loan principal — how much was borrowed. Must be greater than 0. |
| Monthly EMI | Yes | The EMI exactly as it appears on your loan statement. Must be greater than 0. |
| Tenure (months) | No | Total number of installments, e.g. 48. Whole numbers only. Drives the repayment progress bar later. |
| Start Date | No | The date the loan began. |
| Interest Rate (% p.a.) | No | Informational only — recorded for reference, not used in any calculation. |
| Notes | No | Any free-text reminder for your team. |
Daily EMI Is Calculated For You
As soon as you enter a Monthly EMI, a preview appears below the field:
Daily EMI ≈ [amount] (monthly × 12 ÷ 365)
You never type the daily figure yourself. Rentablez always derives it as monthly EMI × 12 ÷ 365, giving a per-day cost it uses across the Financing dashboard to compare against your daily rental revenue.
Watch for the Repayment Warning
If your Monthly EMI × Tenure adds up to less than the Financed Amount, the dialog shows an amber warning — no real loan pays back less than what was borrowed, so it’s flagging a likely typo (a missing zero or the wrong tenure). The warning doesn’t block you; it’s a nudge to double-check the EMI or tenure before saving.
Save the Loan
Click Add Financing to save. The card refreshes to show the live loan record:
- A Status badge of Active
- Lender, Financed Amount, Monthly EMI, and the calculated Daily EMI
- Started and Tenure if you entered them
From this point the unit counts toward your EMI obligation on the Financing dashboard, and you can start recording installments against it.
Editing a Loan Later
Need to fix the lender name, correct an amount, or add a start date after the fact?
- From the stock panel: open the Financing (EMI) card and click Edit. The same dialog opens with your values pre-filled; make your changes and click Save.
- From the register: on the Financing page, use the Edit financing (pencil) action on the asset’s row.
One active loan per unit. A stock unit holds a single active loan at a time. When a loan is fully paid, close it — you can then attach a fresh financing record if the unit is refinanced. See Recording EMI Payments and Closing a Loan.
Who Can Add and See Financing
| Capability | Requirement |
|---|---|
| See the Financing (EMI) card and loan details | Financing — Read permission (plus the module and org toggle) |
| Add, edit, record payments, or close a loan | Financing — Write permission |
| See revenue, coverage, and collected totals on the dashboard | Reports — Read permission (otherwise these figures are masked) |
Without Financing — Write, the card is read-only — the + Add financing and Edit links won’t appear.