Loan & Advance

This feature allows you to configure loan & advance policy. Employee can apply for loan & advance Salary.
This Module Allows you to do:-
1. Configure Loan & Advance salary policy
2. Apply For Loan
3. Apply for Advance

1) Configure Loan & Advance Policy
Process:
Go to : Settings --> Configuration --> Loan & Advance Tab
Entry Process:
Here you are able to set up policies for Loan & Advance Salary. First you need to mention which type of Employee is eligible for Loan & Advance. Then determine how much any employee can apply for loan & Advance Salary & how many installments (For Loan only).

Application for Advance Salary
Process:
Go to: Loan & Advance Salary --> New Advance Salary Application
Entry Process:
First need to select an employee. On right side of screen you can see detail of employee. Then you can see max allowable amount is shown. Then you enter you amount for application. It must be less or equal than max allowable amount. Then click to Submit.

Advance Salary Application Approval
Process:
Go to: Loan & Advance--> Advance Leave application list--> all
Entry Process:
First you need to verify advance salary application. Then you need to approve application. Click to verify & approve employee advance salary.

2) Application for Loan
Process:
Go to: Loan & Advance Salary --> New Loan Application
Entry Process:
First need to select an employee. On right side of screen you can see detail of employee. Then you can see max allowable amount is shown. Then you enter you amount for application. It must be less or equal than max allowable amount. Next enter installment no. Finally click to Submit.

Salary Loan Application Approval
Process:
Go to: Loan & Advance --> Loan application list --> all
Entry Process:
First you need to verify advance salary application. Then you need to approve application. Click to verify & approve employee Salary Loan.