Record employee loans and cash advances
Payroll, then Loans, holds each employee loan with its principal, monthly amortization, installments and balance, so deductions run automatically.
Steps
- Open Payroll in the sidebar and select Loans. The page is titled Employee Loans.
- Select Add Loan.
- Choose the Employee and Loan Type, and enter the Loan Number if there is one.
- Enter the Principal Amount, the Monthly Amortization, the Total Installments and the First Deduction Date.
- Select Save Loan.
Track a loan
Use Filter with a loan type or status (Active or Fully Paid). Each row shows Principal, Monthly, Total Paid, Balance and Progress.
Many loans at once
Use Bulk Upload to load several loans from a file.
Questions people ask
Which loan types can I record?
SSS Loan, Pag-IBIG Loan, Company Loan and Cash Advance.
How do I see how much is left?
The Loans table shows Total Paid, Balance and Progress for each loan. Filter by Active or Fully Paid.