Cloud Payroll - How to record if employee pay cash for the loan settlement

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Question : One of the employees has loan from company and the loan repayment is deducted from monthly salary. Now he wants to make a payment for full settlement. How to record in the system for the loan repayment by cash?


Answer :

1) Go to Human Resource > Loan.

Loan settlement1.png


2) Select the employee loan and click on the small arrow at left, then click on Cash Settlement.

Loan settlement2.png


3) Check the checkboxes of Is Paid of the relevant months to be covered by the loan repayment amount, then click on Save.
If it is a full settlement, then check all the months. If it is just repayment for few months, check those few months so that when running payroll process, the system will not make loan deduction for those months.

Loan settlement3.png


For early settlement, you may maintain the interest discount to the employee.

Loan settlement4.png


When run Feb payroll process, system will not deduct for the loan.

Loan settlement5.png


By : Lay Swan 190207, P190208


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