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Employee Loan Approval Layer

The Employee Loan Approval Layer in PrismERP is a structured authorization mechanism that manages the review and approval process for employee loan applications. This layer ensures that loan requests follow a defined approval hierarchy based on company policies, improving control and accountability.

Key Features​

  • Multi-level Approval Hierarchy
  • Configurable Workflow based on loan amount or employee grade
  • Notifications & Reminders for pending approvals
  • Role-Based Permissions for approvers
  • Real-Time Tracking of approval status
  • Audit Trail for all actions in the approval process
  • Full Integration with Loan & Advance and Payroll modules

4. How to Use This Feature in PrismERP​

➤ Define Approval Workflow​

  • HR/Admin configures approval layers based on employee designation, department, or loan type.

➤ Loan Request Initiation​

  • Employees submit loan applications through the self-service portal.

➤ Layered Review Process​

  • Requests route through the predefined approval hierarchy, one level at a time.

➤ Approval or Rejection​

  • Approvers can review details, add remarks, and choose to approve or reject the request.

➤ Finalization​

  • Once fully approved, the loan is confirmed, recorded in the system, and linked to the employee's loan ledger.

➤ Integration​

  • Approved loans are automatically pushed to EMI schedules and processed in payroll deductions.

Define Approval Workflow