In Loan Disburse page, admin users can add/edit/view/delete Loan details of employees.
Go to Employees menu >> More tab >> expand Transactions section >> under Loan >> click on Disburse Loans
Click on New button to add new loan record
Click on Import button to import new loan records in bulk
Click on History Import button to import the Loan History data (recommended to be used only at the time of implementation)
- Search and select Employee in Code/Name field
- Select the Loan Name from the Drop down list
- Enter the Loan Description, like reason for giving the loan, additional remarks etc…
- Enter the Loan Amount.
- Enter the Loan Disbursed Date.
- Opening Balance field will fetch the amount entered in Loan Amount.
- Enter the Repayment Date from when the repayment should commence.
- Select the Recovery Type like monthly, quarterly, half-yearly, yearly.
- Select the Interest Type from the drop down list.
- Enter the Rate of Interest, if any
- Enter Number of Installments loan will be repaid.
- Select the Round-off Value from the drop down list
- Select Calculate Perquisite, if perquisite tax to be calculated
- Select Is External Loan, if the loan disbursed has to be paid to an external agency
- Click on Repayment Schedule to get the list with No. Of Installments & Payable Amount and click Save