Sales
To add a loan to provide for an employee
Through our HR module, you can provide loans to employees to be paid in installments and you have the option for the installments to be deducted from the employee’s salary.
- Select “Payroll” from the navigation menu.
- Click “Loans“.
- Click the button “New Loan“.
- Input the loan details.
- Employee: Select the employee who will be provided the loan using the drop-down list by typing the first letter of their name.
- Application Date: Select the date of the loan application.
- Amount: Input the amount of the loan.
- [According to requirement] Edit the currency from the drop-down menu next to “Amount”.
- Installment Amount: Input the amount that will be paid per installment.
- Installment Count: Autofilled based on the total loan amount and the installment amount.
- For Instance, the loan will be installed and paid monthly for 5 months, so the “Installment Count” amounts to 5.
- Installment Count: Autofilled based on the total loan amount and the installment amount.
- Period of Installments: Select the period of installment from Monthly, Quarterly, or Yearly.
- Installment Start Date: Select the start date of the first installment payment.
- Treasury Account: Select the treasury account that the loan will be taken and paid into.
- “Repayment from Payslip” Checkbox: Check the checkbox if you wish for the installment to be deducted automatically from the employee’s payslip according to the Period of Installments.
- Note: Add additional notes if you need to.
- Click “Save” once you’re done.