Loans can be updated while it’s not yet fully paid. Employees are also notified every time changes are made to their loan details when Send SMS to Staff tick box is marked by business.
To update a previously created loan, go to Payroll's More menu and choose Loans. Select the employee loan you want to update and tap on the edit (pen) icon next to the employee’s name and update loan details. Tap the Update Loan button to save changes made to loan details.
From Payroll's landing screen, go to More and choose Loans. From the list of loan records, choose the loan you want to delete. To finally delete a loan, simply tap on the delete (bin) button next to the employee’s name. Confirm the deletion of loan details and tap on the Delete Loan button.
To process Employee Loans:
💡 You may get to this page by following the instructions in the following help center articles.
To know how you may update or delete existing employee loan, choose which feature you are using:
To Update Existing Employee Loan using Merchant/Owner account
Click "Settings" dropdown list and select "Employees"
Navigate up to "Pay Item" and click on "Manage Loans"
Click on the 🖉 pencil icon across Employee name that needs to update loan
You may update details below:
Loan Amount, Deduction Frequency, Long Term
Click on "Edit Loan" to update
To Delete Existing Employee Loan using Merchant/Owner account
Click on 🗑 trash icon to delete employee loan
A popup reminder will show to confirm the action, please select "Delete" to continue with the request
The Employee Loan has now been deleted
To Update Existing Employee Loan using Merchant/Owner account
From the Homepage of the app, tap "HRMS" and tap "More"
Tap "Loans"
Tap on the 🖉 pencil icon across Employee name to make changes or review loan
You may update details below:
Loan Amount, Deduction Frequency, Long Term
Tap on "Update Loan" to apply changes made
To Delete Existing Employee Loan using Merchant/Owner account
Tap on 🗑 trash icon to delete employee loan
A popup reminder will show to confirm the action, please tap "Delete Loan" to continue with the request
The Employee Loan has now been deleted