Open HRMS Loan Accounting

Open HRMS Loan Accounting

Manage Loan request of employees

Cybrosys Technologies

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.

Configuration

No additional configuration required.

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

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

Add the deduction rule for loan in Salary Structure.

Employee can create loan request

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

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

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

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