Loans and Advances Guide
A loan organizes the employee request, repayment schedule, and remaining balance.
Create a request
Set type, amount, installment, reason, and first due date.
- The system calculates installment count by rounding up.
Approval and repayment
Approval generates monthly installments, which payroll deducts when due.
- Paid installment count and remaining balance are updated.
Controls and cancellation
Another active loan of the same type can be blocked; cancellation cancels unpaid installments.
- Active installments can be reviewed across all loans.
