Adding a Loan to an Employee
Record the loans received by employees, specify their basic data, repayment information, its method, and whether the loan is repaid in one installment or in installments.
- Note: Before starting, make sure to activate the Payroll App in your account.
How to Add a Loan
- From the main menu, click on “Payroll“.
- Click on “Loans“.
- Click on the button “New Loan“.
- Enter the loan details as follows:
- Employee: Type the name of the employee for whom the loan is intended and select it from the dropdown menu.
- Application Date: Choose the date of the loan application from the calendar.
- Amount: Enter the amount of the loan, and select the currency from the adjacent dropdown menu.
- Installment Amount: Type the installment amount that will be deducted from the employee. The system will automatically calculate the number of installments.
- Note: The installment amount should be less than or equal to the loan value.
- Period of Installments: Choose from the dropdown menu the rate of repaying the installment, and select between (Monthly, Quarterly, and Yearly).
- Installment Start Date: Choose from the calendar the date when the loan installments will start.
- Treasury: Select from the dropdown menu the treasury from which the loan operations will be conducted.
- Repayment From Payslip: Click on the checkbox to pay the loan installments from the payslip.
- Note: Write any required notes related to the loan, its value, and its installments.
- Tags: Write keywords about the loan to help with search operations within the software.
- Note: Tags can be added from the loan creation page but note that if the loan has any paid installments it can’t be edited, but you can assign tags independently from the view page.
5. Click on the button “Save“.