HR, attendance & payroll help

Loans and advances

Loan types, the request and approval steps, and how installments and interest are taken from pay.

Loan and advance types Create each kind of advance or loan once, with its name and, if it carries interest, the rate. Then employees can ask for it, and HR can issue it.
Ask for, approve and issue a loan or advance An employee asks, an advance approver sets the approved amount and installments, a payment approver confirms the payment, and HR issues the loan. From then on…
How loan installments and interest are taken from pay Each pay run takes an installment of every approved loan, plus interest on what is still owed. To skip or change one month's installment, enter a loan override for that…