HR : Loan Preparation

July 9, 2024 by
Rasha Al Haj Hassan
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The Payslip executed each month for an employee triggers a set of rules that are specified under different categories which calculates the Net Wage.

Each rule identified under a specific structure can either be set as: Percentage, Fixed Amount or Python Code.

The Python Code is set specifically to trigger the calculation based on some predefined fields or rules configured on the system.

One of the main points a company requests is the loan settlement which is submitted by an employee and approved by the HR manager which subsequently deducts it from the employee monthly salary.

The loan request is created in the draft stage and submitted by the employee until it reaches the final approval from the manager.

As presented in the image, the loan will take a unique sequence in addition to other values such as: employee, execution date of the loan, department, job position , loan amount , number of installments and the payment start date. 

When the number of installments is specified it triggers the calculation of the payment amounts starting from the payment start date as presented in the below image .

When the Payslip is executed for the employee within the range of the loan period, it will be directly computed as presented.

Finally, the Net Salary computed is going to sum up all deductions and allowances.

Rasha Al Haj Hassan July 9, 2024
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