Loan Master helps create the various loans applicable to your company. The loans created can be selected when adding new loan records.
Follow the steps below to create a loan.
On the Home Page click “Transactions”.
Go to “Spend, Loan Management”
Click “Salary, Loans, and Advances”.
Click “Loan Master” under “Configure”.
Enter the following details:
Abbreviation of the loan
Select the loan type from the Map To drop-down list.
Enter the “Interest Effective Date”.
The Applicable Interest Rate is populated based on the current prevailing rate. You can update/modify the same.
Check the box “Is Active”.
The created Loan will be displayed.