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Key Highlights
Loan Request
Employees can create loan requests.
Loan Request Approval/Refuse
Employee/ Administrator can approve or reject the loan requests.
Pending Installments in Payslips
Automatically lists pending installments for the month when creating payslips.
Loan Amount Deduction From Salary
The loan amount will automatically deduct from the Salary.
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Add Deduction Rule
Create a salary deduction rule for loans by selecting 'Loan' as the Salary Rule Name.
Loan Request
Navigate to Request for Loan under Loans & Advances in Employees module
Create Loan Request
Create a Loan Request by providing details like Loan Amount, Number Of Installments, and other relevant information.
Compute Installment
Clicking the "Compute Installment" button will generate Installments based on the Loan Amount and No Of Installments.
Loan Request Approval
After submitting the Loan Request, a user with Employee/ Administration rights can approve it by clicking the "Approve" button.
Employee Loan Requests
View Loan Requests for a specific employee by clicking the "Loans" smart button in the Employee Form view.
Pending Installments in Payslips
When creating the Payslip, all pending Installments for the month will be listed.
Installment Amount Deduction
After Confirming the Payslip, the Installment Amount will be deducted from the Total Loan Amount
Employees have the ability to submit loan requests with necessary details.
Administrators or authorized personnel can approve or decline loan requests.
Pending installments are automatically displayed when generating payslips for the current month.
Loan amounts are deducted directly from the employee’s salary.
FAQ
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The loan amount is deducted directly from the employee's salary during payroll processing.
Yes, employees may submit multiple loan requests, subject to company policy.
Installment payments are calculated based on the loan amount and the number of installments agreed upon.
Release 18.0.1.0.0
3rd October, 2024- Initial Commit
