| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
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Employees (hr)
• Discuss (mail) |
| Community Apps Dependencies | Show |
| Lines of code | 1056 |
| Technical Name |
xf_loan |
| License | OPL-1 |
| Website | https://xfanis.dev/odoo.html |
| Versions | 15.0 16.0 17.0 18.0 |
Employee Loan Management
Flexible and Effortless Employee Loans
Empower your workforce to request loans, streamline approvals, and calculate repayments effortlessly.
Stay in control with configurable parameters and automated workflows, ensuring financial wellness for your employees.
Upon installing this module, the administrator gains the ability to configure maximum loan amounts and maximum loan terms in months for employee loans.
Access to this module is categorized into three levels:
- Employee: Grants the ability to request loans.
- Officer: Allows validation and approval of loan requests.
- Administrator: Provides full control and configuration privileges.
To request a loan, an employee must input the principal amount, the desired loan term in months, and the planned date of the first payment. Before submitting request employee should compute monthly installments.
The system computes the monthly installments after clicking the "Compute Installments" button.
Loan module officers have the authority to approve or reject loan requests. Before approval, officers can update the initial request data. If any changes are made, the initiating employee is required to accept the modifications. By default, the "Interest-Free" mode is applied, but officers can change it to "Flat Interest" and set the interest rate. Any alterations affecting the monthly installment trigger a recalculation.
Furthermore, loan module officers can initiate loan requests on behalf of other employees. In such cases, the respective employee must accept the request after it has been approved.
There are three available workflows:
- Employee initiates a loan request => Module officer approves => Loan proceeds to the Disbursing stage => Officer marks installments as paid => Disbursed.
- Employee initiates a loan request => Module officer makes changes and approves => Employee accepts changes => Loan proceeds to the Disbursing stage => Officer marks installments as paid => Disbursed.
- Module officer initiates a loan request on behalf of another employee => Module officer approves => Employee accepts changes => Loan proceeds to the Disbursing stage => Officer marks installments as paid => Disbursed.
Each stage includes a "Reject" button, enabling officers reject a request or employees to reject a request if they disagree with the changes made by officers.
Dynamic Approval Workflows for Employee Loans
For more extensive approval workflows with unlimited stages and various conditions, consider our Dynamic Approval Workflows for Employee Loans module.
The Loan Management module provides essential functionality for requesting and approving employee loans, allowing manual marking of installments as paid or unpaid without affecting accounting entries.
XF Payroll Integration
Our Loan Management Module can be seamlessly integrated with the Payroll Deductions Module , ensuring that approved loans are automatically deducted from employees' salaries, simplifying payroll processes and ensuring accurate loan repayment tracking.
Accounting Integration
If you require automated accounting entries for loans and their installments, please refer to our Employee Loan Management (Accounting) and Payroll Loan Deductions (Accounting) modules.
Associated Submodules
Dynamic Approval Workflows
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Accounting Integration
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Payroll Integration
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Payroll & Accounting
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Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
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