Adding loans to the system is an essential function for managing payroll adjustments accurately. This guide will walk you through the steps to seamlessly add loans to the system.
- Access the System:
- Click the profile icon located at the upper right corner of the page and select Administration.
- Navigate to Adjustment & Loan:
- From the menu, select the drop-down button beside Timekeeping Posting, click on Adjustment and Loan, then press the Add button at the top of the page.
- Fill in the Loan Details:
- Under Company, press the space bar three times to display the available options, and select your company.
- Choose the appropriate Transaction Type, Adjustment Type, and enter the Adjustment Name and any Remarks if needed.
- Specify the loan details, indicating whether it applies to the employee or employer.
- Input the loan amount and manually enter the application date, amount, and interest, or use the Auto-fill option.
- Use Auto-fill (if preferred):
- If using Auto-fill, a pop-up will appear. Enter the required information and click OK.
- Assign Loan to Employees:
- Go to the Tag to column on the right side and click + Add Employees. Search for the employee and check the box next to their name. Once done, click Save.
- Save the Adjustment Group:
- A pop-up will appear asking if you'd like to save the adjustment group—click YES to proceed. The employee will now appear under the Tag to column.
- Review and Save:
- Review all the details you’ve entered, then click Save.
- When prompted to submit the adjustment, click YES to confirm.
- Confirmation:
- A final pop-up will appear stating that the payroll adjustment was successfully created—click OK to finish the process.
By following these steps, loans will be accurately applied to the selected employees, ensuring smooth payroll processing and proper loan tracking.