56 lines
2.3 KiB
Markdown
56 lines
2.3 KiB
Markdown
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# Employee Loan Management
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This module enables companies which provides employee loans to define and manage employee loans.
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Employees can request loans, which are then reviewed and approved. For the approved loans,
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repayment schedule for the entire loan cycle can be generated and automatic deduction from salary can also be set up.
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### Loan Type
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To create a new Loan Type go to:
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> Human Resources > Employee Loan Management > Loan Type > New Loan Type
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Configure Loan limit and Rate of interest.
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<img class="screenshot" alt="Loan Type" src="{{docs_base_url}}/assets/img/human-resources/loan-type.png">
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### Employee Loan Application
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Employee can apply for loan by going to:
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> Human Resources > Employee Loan Management > Employee Loan Application > New Employee Loan Application
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<img class="screenshot" alt="Employee Loan Application" src="{{docs_base_url}}/assets/img/human-resources/employee-loan-application.png">
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#### In the Employee Loan Application,
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* Enter Employee details and Loan details
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* Select the repayment method, and based on your selection enter Repayment Period in Months or repayment Amount
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On save, Employee can see Repayment Information and make changes if required before submitting.
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<img class="screenshot" alt="Employee Loan Application" src="{{docs_base_url}}/assets/img/human-resources/repayment-info.png">
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### Employee Loan
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Once the Loan is approved, Manager can create Employee Loan record for the Employee.
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> Human Resources > Employee Loan Management > Employee Loan > New Employee Loan
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<img class="screenshot" alt="Employee Loan Application" src="{{docs_base_url}}/assets/img/human-resources/employee-loan.png">
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#### In the Employee Loan,
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* Enter Employee and Loan Application
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* Check "Repay from Salary" if the loan repayment will be deducted from the salary
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* Enter Disbursement Date and Account Info
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* As soon as you hit save, the repayment schedule is generated.
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<img class="screenshot" alt="repayment Schedule" src="{{docs_base_url}}/assets/img/human-resources/repayment-schedule.png">
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#### Loan repayment deduction from Salary
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To auto deduct the Loan repayment from Salary, check "Repay from Salary" in Employee Loan. It will appear as Loan repayment in Salary Slip.
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<img class="screenshot" alt="Salary Slip" src="{{docs_base_url}}/assets/img/human-resources/loan-repayment-salary-slip.png">
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