To add new loan details for an employee, perform the following actions:
- From your greytHR Admin login, navigate to Payroll > Payroll Inputs > Loan. The Loan page opens.
- In the Search by Emp No/ Name box, enter the employee name/number for whom you want to add the new loan details.
Under the General tab, click Create New to create a new loan.
Note: You can create a new loan only for an employee who does not have an existing loan.
- From the Loan as on dropdown list, select the current financial year.
- Under the Loan Details section, from the Date of Loan dropdown calendar, select the issue date of the loan.
- From the Deduct From dropdown calendar, select the date from which the amount is deducted from the employee's salary.
- In the Amount text box, enter the amount of the loan issued to the employee.
- In the Interest Rate text box, enter the rate of interest applicable to the loan.
- In the No of Installments text box, enter the number of installments required to pay the loan.
- From the Loan Type dropdown list, select the type of interest being issued to the employee.
- In the Loan Account No text box, enter the loan account number if any.
- Click Save to create a new loan. A success message appears.
❓FAQs- To read more FAQs about the Loan, click here.
▶Video- To watch the greytHR how-to videos, click here.
📃Documentation- To read more about Loans, click here.
📢Product Update- To read about the product update, click here.