Info type 45: Loans
1.1 New loan Entry
1. Select the employee and infotype.
2. Select the subtype.
NOTE: Please do not confuse Subtype 9002 with 9004. Education Loan refers to loans which are payable to
MHRYS and Special Education Loan are loans which are provided internally in an organization. This is accounted
from Other Deductions code since the cheque will normally be payable to the agency or a separate account which
was set up by the agency. Furthermore, 9003 Staff Loan Scheme is the same as Subtype 9004 since this also reflects
a loan set up by the agency itself and it is accounted from Other Deductions code as well.
3. Fill out the relevant columns. Loan amount granted is the total amount of the loan.
4. For the first record of the loan, the Repayment start date should be the start date of the current month and the
Repayment amount is the first repayment amount.
5. Payment tab is the most important tab. This allows loan to be deducted from payroll. In this tab, when you select
the payment type, the amount should be filled out automatically.
6. To create the second record, copy the first record.
7. Change the start date, repayment start date and the installment amount ONLY. Do not change any other records.
After it is saved, you should be able to see two loan records.
2.1 Loan Extension
If an employee takes leave (No pay, Paid leave or if the loan needs to be stopped for a few
months) - you should copy the loan record as of the following month (when he got no payment)
and set the installment amount to zero. Be very careful with the dates. When you copy the loan to
make the amount zero, write the start date and end date of the period which you wish to stop the
payment. When you save this record, system will automatically split the record and create a new
one, continuing the loan same as before.
STEP-BY-STEP GUIDE
1. Select and copy the existing loan
2. Go to the “Conditions” Tab and change the date to the start date of the month which payment needs to
be stopped, and change the Installment amount to Zero. Make sure you change the dates circled below.
records and carrying it forward.
When you press save, this error occurs splitting the
NOTE: Do
not change any entries in the record automatically created by the system since this is a
continuation of the previous record generated by the system.
3.1 End Loan Externally (After termination, no pay or paid leave)
1. If it is termination use the last day of his service.
2. If the staff is active, always write the current payroll month’s start date if a loan has been paid
in full in previous month.
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See both the records and copy the latest record. For e.g.: If its September payroll, leave
the August entry and copy the September entry.
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If he has paid externally this month (September) then write the start date of September
and Select “Special Repayment External” and accept the amount system automatically
shows or you can over-write it
4.1 IMPORTANT NOTES
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If an employee is taking no pay leave for a long time or is being terminated, please copy
the latest loan record and end the loan by selecting “Special Repayment External”. Start
date should be the 1st of the payroll month.
If it is a short term no pay leave of a few days (according to the new Civil Service Rule),
there is no need to stop the loan for that month. But if you wish to do so for that
particular month, you can simply copy the loan and set the amount to zero as mentioned
above but setting the dates right.
In NO CIRCUMSTANCE should you change the end date of the loan from the overview
screen. This will cause error in payroll and will make it impossible to run payroll for him.
Always remember to enter a reference number in the “External Reference Number”
column so that the record could be traced easily for any future references.