How to add Loan?

How to add Loan?

A loan is an arrangement between an employer and an employee in which the employee agrees to pay back the borrowed sum in equated monthly installments (EMIs).


To add a Loan for an employee:


  1. Navigate to ‘Run Payroll’ under > 'Payroll' tab

  2. Tap on the employee's name and find ‘Loans’

  3. Add the following details to execute:

  1. Mention the amount to be paid

  2. Payment Date - Mention the payment date

  3. Add notes, if any

  1. Further, you will be getting two options:

  1. Add Loan: Tap on this, if you want to provide the loan from the employee’s salary

  2. Deduct Loan: Tap on this, if you want to deduct the loan from the employee’s salary


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