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Friday, 2 February 2018

Loan Amortizer


Loan Amortizer


ABSTRACT
 The life of a person is so hectic that he has to look after his family affairs as well as grow along with the rest of the society. In this struggle, sometimes he has to go for a loan to make small purchases for his family and repay the loan as per the schedule. In this case, small companies lending the loan on easy installments would be his choice. Loan Amortizer is a software that enables a lending company like  Citi Financials, Fullerton etc to promote a transparent and secured environment in lending the loans as well as their recovery process.
The administrator of this software can just view the information besides adding new users and employees and changing their passwords. Thus he cannot interfere with the loan process or payments. This part is dealt by manager who has authority to issue the loan to an individual. He can provide information on which type of loan being issued and to whom.
Accountant and agents of the finance company can view all the details of the customer. When a customer makes a payment, they can store the payment details into the database. Thus, Loan Amortizer is an online software application which fulfills all the requirements of a typical finance company. It provides the interface to users in a graphical way to manage the daily transactions as well as historical data. The users can provide a clear picture to the customers regarding how much is already paid and how much is still pending. By extending this software, it is possible to make the customer to directly view his transactions right from beginning. This will eliminate any mischief played by any third party person. Also provides the management reports like Released Loans, Payments, Rejected Applications, Submitted Papers and Finance Report.
This application maintains the centralized database so that any changes done at a location reflects immediately. This is an online tool so more than one user can login into system and use the tool simultaneously.
The aim of this application is to reduce the manual effort needed to manage transactions and historical data used in a finance company. Also this application provides an interface to users to view the details like the Released Loans and Finance Report etc.
PROBLEM STATEMENT
Problem statement is one of the basic and important phases of project phase. When the basic problem is determined, it is documented and the symptomatic problem is analyzed, then the current list of basic problem is completed. A system is simply a set of components that interact to accomplish some purpose.
Loan Amortizer is an online software application which fulfills the requirement of a typical finance company. It provides the interface to users in a graphical way to manage the daily transactions as well as historical data. Also provides the management reports like Released Loans, Payments, Rejected Applications, Submitted Papers and Finance Report.
 The aim of this application is to reduce the manual effort needed to manage transactions and historical data used in a finance company. Also this application provides an interface to users to view the details like the Released Loans and Finance Report etc.
Current system is a manual one in which users are maintaining ledgers, books etc to store the information like Customers details, bank details, issuedloans, payments, submittedpapers and employee details. It is very difficult to maintain historical data.
This project is developed using Java Programming Language under Windows.
SYSTEM ANALYSIS
System Analysis is first stage according to System Development Life Cycle model. This System Analysis is a process that starts with the analyst.
Analysis is a detailed study of the various operations performed by a system and their relationships within and outside of the system.  One aspect of analysis is defining the boundaries of the system and determining whether or not a candidate system should consider other related systems.  During analysis, data are collected on the available files, decision points, and transactions handled by the present system.
Logical system models and tools that are used in analysis.  Training, experience, and common sense are required for collection of the information needed to do the analysis.
CURRENT SYSTEM:
Current system is a manual one in which users are maintaining ledgers, books etc to store the information like Customers details, bank details, issuedloans, payments, submittedpapers and employee details. It is very difficult to maintain historical data. Also regular investments need to purchase stationary every year.
Disadvantages:
The following are the disadvantages of current system
  • It is difficult to maintain important information in books
  • More manual hours need to generate required reports
  • It is tedious to manage historical data which needs much space to keep all the previous years ledgers, books etc
  • Daily transactions are to be entering into different books immediately to avoid conflicts which are very difficult.
PROPOSED SYSTEM:
Proposed system is a software application which avoids more manual hours that need to spend in record keeping and generating reports. This application keeps the data in a centralized way which is available to all the users simultaneously. It is very easy to manage historical data in database. No specific training is required for the employees to use this application. They can easily use the tool that decreases manual hours spending for normal things and hence increases the performance. As the data is centralized it is very easy to maintain the finance report of the company. 
Advantages:
The following are the advantages of proposed system
Easy to manage all the daily transactions
Can generate required reports easily
Easy to manage historical data in a secure manner
Centralized database helps in avoiding conflicts
Easy to use GUI that does not requires specific training.
MODULES:
The System after careful analysis has been identified to present with the following modules.
EMPLOYEE INFORMATION MODULE:
This module maintains all the information, which belongs to the employees who are working with the company. It also takes care about the details of the employee who are working as collection agents and recovery agents etc. 
CUSTOMERS MODULE:
This module maintains all the information to manage the customer’s details and their bank account details etc. All the Customers are recorded to database and can be viewed as a report that displays all the Customers details and their bank details also. But only Manager can add the customers. Each and every user has their own functionalities. Whenever the user  enter into his functionality then the Customer Module displays the two fields, one is add new customer and another one is view customers. Only Manager can add the new customers, remaining users can view the details of all customers. The advantage in this module is, whenever the user wants to download all the customers details then he will just click on the field “Download to Excel” which is available in the bottom of the screen. Whenever the user wants to take the  print of  all the customer details then he need not use any print options, just click on the ‘X’ button which is available on the top most right corner on the screen.
TYPE OF LOANS MODULE:
This module deals with major and crucial part which includes the type of loans and the details about the customers who requested for a specific loan etc. This module provides interface to add the  details provided by the customers for specific loans like vehicle details for vehicle loans, house details for housing loans, company details for personal loans and the weight age of the gold for gold loans etc. This module also deals with the relevant papers submitted by the customers according to the requested loan.
Whenever the user enter into his functionality then the Types of Loans Module displays all the four types of loans. Only the manager can fullfil the loan form of the corresponding loan i.e, vehicle finance, personal loan, gold loan and housing loan. If any of the remaining users will try to enter into this module then it will shows the message like “ You are not authorized to access this page.
 ISSUEDLOANS MODULE:
This module deals with major and crucial part which includes the issuing a new to the requested customer or to reject the application based on papers submitted by them. This module provides interface to add the issued loans details and can be viewed as a report that displays all the issued loans, rejected loans and pending applications. Whenever the user enter into his functionality then the Issued Loans Module displays the fields, one is Issue NewLoan and the another one is View Issued Loans. Only Manager can issue the new loans for the customers, any of the remaining users can’t use this field. The advantage in this module is, whenever the user wants to download all the IssuedLoans details then he will just click on the field “Download to Excel” which is available in the bottom of the screen. Whenever the user wants to take the  print of  all the IssuedLoans details then he need not use any print options, just click on the ‘X’ button which is available on the top most right corner on the screen.
PAYMENTS MODULE:
This module deals with major and crucial part which includes the payments made by the customers based on the loan issued and installment amount. This module provides interface to add the payments details and can be viewed as a report that displays all the payments made by the customers. Whenever the user enter into his funcationality then the Payments Module displays the two fields, one is Make a Payment and another one View Payments. Only Accountants and Agents can make the payments. Remaining users can view the details of all the payments.
ADMINISTRATOR MODULE:
This module is used to maintain the details of users of the project. Users are divided into four categories.
Admin
Manager
Accountants
Agents
Whenever the user enter into his functionality the Administrator Module displays the five fields, i.e, View Users, Delete User, Add Employee, Remove Employee, View Employee. Only the Admin User can Add/Remove the Employees and the Users. Remaining users can view the details of all the employees and the users.
REPORTING MODULE:
This module used to provide reports required by the higher management. To generate dynamic reports like information about the Released loans, Payments, Rejected Applications, Submitted Papers and Finance Report etc.
HARDWARE AND SOFTWARE REQUIREMENTS
Hard ware Specification:
Processor                         :        Intel P-IV based system
Processor Speed               :        2.0. GHz
RAM                                :        256 MB to 512 MB
Hard Disk                         :        40GB to 80GB
Key Board                        :        104 keys
Software Specification:
Database                         :        MySQL 5.0, MySQL 3.5 JDBC driver
Server                              :        Apache Tomcat 4.1
Front end                         :        JSP / Servlets, J2SDK 1.4, HTML,DHTML,   
                                                Java Script
Editor                              :        Edit plus

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