How do I add a second Loan Deduction to an employee's Payslip?
How do I add a second Loan Deduction to an employee's Payslip?
This feature is available on all PaySpace editions.
If an employee has an existing Loan Deduction, the same base Component can be used to create the second Loan Deduction, however the 'Payslip Name' should be unique to the second Loan.
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 > ...
This feature is available on 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 ...
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 > ...
If the Loan Deduction component was deleted from the employee's Recurring Payroll Component screen but the initial loan balance has not been fully repaid, the loan deduction will recover the full amount on the employee's termination. Navigate > ...
This feature is available on all PaySpace editions A Recurring component is a regularly appearing component in an employee’s payroll, forming part of their standard compensation package. Recurring components are calculated and included in every pay ...