I have a query regarding employee loan repayment. Lets assume employee is having 3 months repayment schedule for a specific loan but he resigns at the first month. How to settle employee loan in the same payroll period as repayment dates are far ago than employee resign date.
Your issue is similar to this
An employee was recently transferred from Company A to Company B using the Employee Transfer tool in Human Resources module but has an existing loan in Company A. This loan was however not transferred to Company B. During payroll processing, the Journal Entry tries to make an entry in Company A Journal for loan repayment which is not possible hence i am unable to submit payslips and close payroll processing for the month.
Is there a way i can transfer the loan to Company B or is there another p…
A member received a loan and a repayment schedule is generated.
at the end of the month, 30th of every month a loan is repaid by a certain amount, I make Repayment Entry. This is good.
But in some cases a member decides to repay the loan earlier before end of the month let’s say on 15th of the month.
How can I handle such scenario?
how can I make Repayment Entry for earlier repayments before the actual date as showed in the repayment schedule?
Basically there’s no way to settle it on V12 but i think the feature has been added to V13.
Thanks. I am working with my team figure out this issue. Hopefully we will come up with a solution.