Add/change a new loan

Type the employee number or use the LIST button to choose an employee if it is a new loan. On a current loan, with at least one repayment already paid, you will not be able to change the employee number.

The date on which the first repayment must be made. If there have been repayments on the loan, the date cannot be changed.

The amount of the loan.

The repayment can either happen with a fixed monthly instalment or with a specific number of repayments.

The number of instalments.

This field becomes available if 'Click to activate' is used in #9. This is helpful if an employee has more than one loan and can only afford a certain amount each month. The system will not deduct more than the 'maximum instalment'.

It is your choice if the employee must pay interest on the loan amount or not. If the block is left open, no interest will be calculated.

Type whatever remarks you want to make here. This will also be used as the wording on the pay slip.

This button will open the maximum instalment block on the form (#6).

Save the values currently displayed.

Close the window without saving anything.

If interest was calculated, but you want to remove it, it can be done here.

If you want to write off the employee's debt, because the employee absconded or an arrangement has been made with the employee, it can be done here.

The list shows the loan's repayment history. It is updated every time an instalment is paid.

If the maximum instalment function was used (#6), but you do not want to utilise it anymore, this button will close the field and erase the amount.

Mark the applicable block if a loan form must be printed for the employee to sign/record keeping.