Updating Prepayment of Loan
1. For Loans without perquisite
Menu Path : Payroll > Employee Details > Update Loans and Advances Tab
Accessible to : Payroll Manager
Loans which are still active are shown on the table. Click on the drop-down on the last column and you can see action button "Pre Payment".
Click on "Update Payment". You will see a popup where you can update the amount you are receiving from the employee.
The amount will be reduced from the loan. You can see this entry in Payroll > Employee Reports > Loan Summary and Detail report. It will be shown as "Paid by Employee". Regular deduction will be shown as "Payroll".
2. For Loans with perquisite
Menu Path : Payroll > Employee Details > Update Loans and Advances Tab
Accessible to : Payroll Manager
Loans which are still active are shown on the table. Click on the drop-down on the last column and you can see action button "Pre Payment". On click of the button you can enter the pre payment amount in the popup. The amount will be updated as received in the next month (based on the last updated payroll month). In the example shown below the payroll for Feb 2023 has been run and confirmed.
When you download the loan details excel this amount will be shown in "Pre Payment / FnF" column. When only one instalment is remaining the pre payment has to be equal to the instalment amount, it cannot be in part.
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