How can I monitor the outstanding balances of employees' loan deductions?
The outstanding balances of employee's loan deduction can monitored using the Loans Report.
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How do I change the balance of employees' loan deductions?
The balance of an employee's loan deduction can be increased or decreased when the component is edited on the Recurring Payroll Components screen. Navigate > Employee > Payroll Processing > Recurring Payroll Components > DeductionsWhy is the Loan Deduction component not reflecting on the employees Edit Payslip screen after it was added on the Recurring Payroll Components screen?
The Loan Deduction component may not reflect on the employee's Edit Payslip screen because the Loan's opening balance is R0.00. To resolve the error edit the component and increase the loan's opening balance on the employee's Recurring Payroll ...How do I ensure that an employee's loan deduction component is not taxed?
To prevent an employee's Loan Deduction component from being taxed, enable “Is this a non fringe benefit loan?” checkbox when adding it under the Deductions section of the employee's Recurring Payroll Components screen. Navigate > Employee > Payroll ...How do I add an interest rate on an employee's loan deduction component?
An interest rate can be inserted when adding the Loan Deduction component on the Recurring Payroll Component screen. Navigate > Employee > Payroll Processing > Recurring Payroll Components > DeductionsHow do I add a loan deduction to an employee's record?
The loan component can be added to an employee after it can been configured on company level. Step 1: Search for and select the Loan Deduction component. Navigate > Configuration > Payroll > Payroll Config > Payroll Components Step 2: Add the Loan ...