Loan allows users to set up employee loan records and automate monthly salary deductions during payroll processing. Loan repayments are deducted automatically based on the configured repayment schedule. Steps to Create a Loan: Go to Human Resource > Loan. Click Add New. Enter the details: Employee – Select the employee taking the loan. Description – Enter the loan purpose or remark. Loan Amount – Enter total loan amount. Interest Amount – Enter interest (if applicable). Start Period – Select repayment start month. End Period – Select final repayment month. Repayment Months – Enter total repayment duration. Note: The following fields will be auto-calculated: Repayment Amount Repayment Interest Last Repayment Amount Last Repayment Interest Click Save. Click the > icon to expand the details. The system will automatically deduct loan repayments during each payroll run.

This feature allows employers to temporarily stop and then resume loan repayments for an employee. When a loan is suspended, no further payroll deductions will be made until it is reactivated.  Steps to Suspend a Loan: At the Loan page, locate the loan record and click the suspend (pause) icon. Click Yes to confirm suspension. The loan status will change to Suspended, and deductions will stop.  Steps to Resume a Suspended Loan:   At the Loan page, locate the loan record and click the play icon. Click Yes to confirm. The loan status will change back to Running, and deductions will resume. 

When employees repay their loans in cash, employers can record the repayment in the system. This feature also allows HR or Payroll users to manage loan settlements by editing, deleting, or cancelling incorrect or excess repayment records, ensuring accurate loan balances and payroll records.  Steps to Record Cash Settlement of Loan: At the Loan page, click the > icon to expand the loan details. Click Cash Settlement to knock off the loan repayment from employees. Enter a Remark of the repayment. Enter the amount of Interest Discount if any. Toggle Apply Discount to All to YES if the discount is applicable to all repayment months.  Tick the repayment period(s) that have been paid.  Click Save. The Paid? and Cash Settlement columns will be updated. Use the eraser icon to cancel a settlement if needed.  Steps to Reset Loan Interest Discount: You may reset interest discounts for a loan that has not yet been paid, if the Apply Discount to All option was previously set to YES during earlier repayment setup.  At the Loan page, expand the loan record. Click Reset Interest Discount. Click Yes to proceed. The interest discount will be removed for the affected repayment periods.  Steps to Delete or Cancel a Loan Settlement:  Go to Human Resource > Loan. Locate the loan record and click the > icon to expand the details. Click the eraser icon to delete the loan settlement. Click Yes to confirm. The payment will be deleted.