Loan Deduction - A summary of the activity

Through this activity, you can select the loan application and record the amount that will be deducted for each installment against the loan availed by the employee.

You can select the loan application through direct entry wherein, you enter the loan application number for which you must record the loan deduction details. Alternatively, you can enter the search criteria to refine the search and retrieve multiple loan applications based on the search criteria. You can select the required loan application and record the loan deduction details in the “Record Loan Deduction” page.

The “Record Loan Deduction” page, allows you to enter the key details, such as the following

4      The scheduled principal /interest/penal interest that must be recovered on installment basis

4     The principal/interest/penal interest amount outstanding as on current date from the process period specified for the installment

4      The actual principal/interest/penal interest recovered from the employee for the corresponding installment number.

You can edit the details, if required.

Getting familiar with the pages inside  

6      Hyperlinked topics below 

Prerequisites  

None

What you can do in this activity  

Recording loan deduction