How can I monitor the outstanding balances of employees' loan deductions?
This report is available on all PaySpace editions.
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?
This feature is available on all PaySpace editions. The initial balance of an employee's loan deduction can be changed when the component is edited on the Recurring Payroll Components screen. Navigate > Employee > Payroll Processing > Recurring ...How do I add a loan deduction to an employee's payslip?
This feature is available on all PaySpace editions A Loan Deduction component has to be configured on Company Level prior to adding the component to an Employee Payslip. Step 1: Search for and select the Loan Deduction component. Navigate > Config > ...Why is the Loan Deduction component not reflecting on the employees Edit Payslip screen after it was added on the Recurring Payroll Components screen?
This applies to all PaySpace editions. The Loan Deduction component may not reflect on the employee's Edit Payslip screen because the Loan's opening balance is R0.00. Navigate > Employee > Payroll Processing > Recurring Payroll Components To resolve ...How do I ensure that an employee's loan deduction component is not taxed?
This feature is available on all PaySpace editions. 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 ...How do I add an interest rate on an employee's loan deduction component?
This feature is available on all PaySpace editions. 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 > ...