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Section Three - Human Resources LoansThe Loan tab window allows you to set up employee loans and offers simple access for tracking the loan, payback amounts, and payback period. You can create payment settings for the entire Employee List, for all New Employees that will be entered, or for individual employees by clicking on the appropriate selections in the Employee list box on the left side of the window. Please note that even if you create a generic Loan setup for the entire Employee List, you can still create customized loans for individuals who might have special circumstances. Creating payroll item deductions for loansTo have the payback amount for the loan automatically deducted from each employee paycheck, you need to create a specialized deduction. Deductions are created in the Payroll Items tab window by clicking on the red New button in the Deductions section. Again, you can create the deduction item for the entire Employee List, for new employees only (New Employee List settings), or for individuals. Detailed instructions for setting up payroll item deductions can be found in Creating a new deduction Once you have created the deduction, you can set up your loans and payback options. Setting up loans
NOTE: See Creating a new deduction for detailed instructions for this process.
Now that you have set up the criteria for loans, you're ready to create loans and payroll advances. When you choose a particular individual who has taken an advance, you will now be able to see his or her Current Balance, the amount outstanding on the loan, and the current Available Credit. These amounts will change as the loan is paid back. Cutting an advance check
The program returns you to the Human Resources Loan tab window. If you have the deduction set up to occur every pay period, the program will automatically keep track of the payments and balance remaining. AdjustmentsYou can make adjustments and keep track of them by utilizing the features available in the Details dialogue. Making an adjustment
Editing loan detailsYou can edit, delete, or void loan details in the Details dialogue. Highlight the line you wish to edit, void, or delete and click the appropriate button on the right side of the dialogue. Editing an entry
Voiding and deleting entriesVoiding an entry leaves it in the Details dialogue, but makes the numerical amount for that entry $0. 00. Deleting an entry removes it completely. When you highlight an entry and click the Delete button, an alert message will ask if you are sure you want to delete and not void the entry. Click Yes to delete it, click No to choose another option. | |
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