Payroll-> Deductions-> loan screen:

a.      Used for entering employee loans.

b.      Loan types rules should be defined in loan policy screen.

c.       After selecting the Employee, uncalculated Salary Month will be displayed as default.

d.      Pay Loan Amount With Salary Month: should be selected to know which month employee got the loan.

e.      Include With Bank Salary Transfer: means that the entered amount will be added to monthly bank transferred salary.

f.       Paid / Payment Date: means that the loan amount is already paid on the entered date.

g.      Loan Installment Type: if Fixed Installment Amount is selected, Installment Amount will be displayed. If No Of Installments is selected, No Of Installments will be displayed.

h.      Installments Deduction Method: default installment deduction way... cash or salary deduction.

i.        Guarantor Employee: if the loan amount exceeds the employee's end-of-service amount (based on loan policy).

j.        Click Calculate to view Loan Distribution Details below then click Save.

k.      To do any changes in monthly installment, close the screen and open the transaction again.

l.        If the Installment Deduction Method is Salary, installment amount will be deducted from loan balance after salary final posting. If Installment Deduction Method is Cash, installment amount will be deducted from loan balance after entering the Deducted Date.

m.    Installment Deduction Method (cash or salary) can be changed during the month: click on Salary Deduction Amount in table and change the amount or put zero then click on Cash Deduction Amount and enter installment amount then click Save Changes in table header.

n.      To stop deducting an installment amount for a certain month, make installment amount zero then add to upcoming month or click Add Month in table header and add the amount to it.

o.      The sum of Total Paid (salary or cash) and Total Remaining should be equal to Loan Amount.