Creating, Editing and Deleting Loan Mapping
To create loan mapping of an employee:
On the HR menu, under Payroll, click Loan Mapping
The Loan Mapping page appears.
Click Create Loan
The Create Loan screen appears.
In the Employee Name text box, enter the employee name.
Under Loan Details Section, perform the following steps:
Select the loan category from the Loan Category drop down box.
Select the loan status from the Loan Status drop down box.
Select the loan type from the Loan Type drop down box.
The Loan Eligibility text box will be displayed.
Click the Date of Loan Sanction and on the calendar that appears, select the date to sanction loan.
In the Loan A/c Number text box, enter the loan account number.
In the Loan ID text box, enter the loan ID.
In the Remarks text box, enter any relevant comments.
Under Installment Details section, perform the following steps:
In the Activation Period drop down box, select the activation month and year.
In the End Period text box, the end period will be displayed.
Select the Calculation Mode from the calculation mode drop down box.
In the Loan Priority No. text box, the loan priority number will be displayed.
In the Loan Amount text box, enter the amount of loan.
In the No. of Installments text box, enter the number of installments.
In the Interest Rate (%) p.a. text box, the interest rate will be displayed.
Click Create Installments.
The details displayed are
Details
Field |
Description |
Total Interest |
Displays the total interest amount |
Total Loan Amount |
Displays the total loan amount |
Monthly Principal Amount |
Displays the monthly principal amount |
Monthly Interest Amount |
Displays the monthly interest amount |
Monthly Installment |
Displays the monthly installment amount |
Next Month Installment |
Displays the next month installment |
No. of Installments paid |
Displays the number of installments paid |
Balance Installment |
Displays the amount of balance installment |
Total Principal Paid |
Displays the total principal paid |
Total Interest Paid |
Displays the total interest paid |
Outstanding Principal |
Displays the amount of outstanding principal |
Outstanding Interest |
Displays the outstanding interest |
Total Outstanding |
Displays the amount of total outstanding |
Select the Partial Deduction check box, and enter the effective amount in the Effective Amount text box or else click No Deduction Request check box.
Do any of the following:
To save the create loan details, click Save and Close.
To save and continue adding details for another loan, click Save and Continue.
Note 1: Loan
cannot be created without mapping between loan category and loan type
in loan master.
Note 2: To
exit without saving the details, click Cancel.
If you want to view the loan details of that particular employee, click on the particular Employee Code link.
The Loan Details of that particular employee appears.
If you want to edit details of existing loan mapping, select the check box corresponding to the mapping, click Edit, make the required changes and save.
If you want to delete details of an existing loan mapping, select the check box corresponding to the mapping, click Delete and confirm the deletion.
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