Frequencies and calendar

The payment frequency and the start date are the only things that decide when each installment falls due. This article spells out the exact rules, including two that surprise almost everyone the first time.

The four frequencies

Biweekly means 15 days, not 14. It is not a "two-week" fortnight: the system adds fifteen calendar days. That is why a biweekly loan starting on the 10th falls due on the 25th, and the next one on the 9th of the following month (25 + 15), not on the 25th again.

The first installment is never the loan's own day

The start date is the day you hand over the money. The first installment is due one period later:

• You lend on 10 January, monthly frequency → first installment on 10 February.
• You lend on 10 January, daily frequency → first installment on 11 January.

Weekends

The Collect on Saturdays and Collect on Sundays toggles ship off by default. Off means: "if an installment lands on that day, push it forward".

The skip is sequential: Saturday is evaluated first, then Sunday. With both off, an installment landing on a Saturday moves to Sunday and, since Sunday is off too, ends up on Monday.

A real example: a daily loan starting on Friday 9 January, with both days off:

Turn Collect on Saturdays on and the first installment becomes Saturday the 10th; the second one, since Sunday is still off, jumps to Monday the 12th.

Skipped days are not recovered: the schedule shifts forward, it does not compress.

Short months and the 31st

With monthly frequency the system keeps the day of the month. When that day does not exist in the next month, it overflows into the following one, exactly as the system calendar works:

• A monthly loan starting on 31 January 2026 → first installment on 3 March (there is no 31 February: 28 + 3).
• And the next installment is computed from that new date: 3 April. It never returns to the 31st.

If you want a monthly loan to always land on the same day, avoid starting it on the 29th, 30th or 31st. Starting on the 28th or earlier keeps the date stable every month.

What "next payment" means

Every loan carries a next payment date, visible in the list and in the detail. It is computed on creation (start date + one period) and moves forward as payments are recorded.

It is the date the system uses to decide whether a loan is overdue: the portfolio's "Overdue only" filter shows unpaid, non-archived loans whose next payment date is already in the past.

Changing the frequency later

You can, from the edit form, but only while the loan has no payments. Changing the frequency recomputes the next payment date and the total projected interest. Once payments exist, the loan is locked.

What you can always change are the arrears rate and the grace days, from the Update arrears action.