I'm helping out a friend with his small start up. The gist of things is that we're a microfinancing company. We've got a lot of clients small clients and are having a not so great time keep track of people's payment records, computing penalties etc...
I've been looking around online for software that would make our lives easier, but all the stuff that shows up look to be on sketchy-ish sites or things that just don't sit well with me. (ex: LoanAssistant, Loandisk) some red flags are that the copyright years are 2+yrs old on the site.
Right now we're doing everything in excel and as you can guess, there's a lot of potential for errors etc.. so we have to have two sets of people running the ledgers.
Edit to answer questions in comments:
Z Z - Preferably local hosting because the founder is a little leery when it comes to cloud based solutions. However if the cloud solution is clearly superior, I'll do my best to make a case for it.
Nicolas Raoul - Ideally we'd like to have all the account ledgers (amounts paid, broken into principal, interest and penalties, remaining balance, time to maturity, etc...) then have it flow into a sort of general ledger (phrasing? I'm not an accountant) to monitor inflows & outflows that can be used by our accounting staff as well.
Izzy - We're a windows shop, windows 7 or 10. As for budget, it's kind of hard to say. Since I've never really used any software in this space, I'm not sure how much you can do with the product. As a small company, a big software budget might be prohibitive but as with all things, it really depends if/how much of a game changer it is.