Manage Loan Payment which is basically to manage the loan payments allows you to adjust payment received outside payroll / waive part of the loan amount.
Follow the below steps to manage loan payment:
On the Home Page click “Transactions”
Go to “Spend, Loan Management”.
Click “Salary, Loans and Advances”.
Click “Manage Payments” under “Workflow”.
The “Date” will be the current date.
Select the “Employee Name” and the “Loan Name” from the drop-down.
Loan Amount, Till Now Paid Amount , and Remaining Amount will be automatically displayed.
Select the Loan Instalments that need to be settled.
The amount will reflect in the “Payable Amount” box.
Check the Box “Add Interest” to set off the Interest Amount.
The total amount set off will be displayed.
You can use the search option by using the “Search Criteria” and the “Condition”.
The details of that specific employee/s for whom the part settlement has been completed will be displayed.