OpenHRMS Loan Accounting

Manage loan request of employees

Overview

Open HRMS Loan is a component of Open HRMS suit. Open HRMS Loan module helps the user to configure different loan policies, assign approval authority, conduct the verification process and sanction loan for employees.

Key Features

Employee can create loan request

Loan amount is deducted from the salary

Double layer approval, from Accounting & HR Department

Current month installment is automatically listed in payslip

Screenshots

01

Loan Approval From Accounting Department

Enable the option "Loan Approval From Accounting Department" In accounting settings

02

Deduction rule

Add the deduction rule for loan in Salary Structure.

03

Loan Request Contract

Employee can create loan request

04

Approval

Once the HR department has given the Approval, the accounts department take the decision.

05

Pending Installments

When we create the payslip, all the pending installments of the month will be listed there.

06

Pending Installments

When we check the Loan request again, the deducted installments will be changed to paid.

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