Personnel Data

 

Use

An employee applies to the HR department for a loan related to a particular project. The HR department checks whether specific conditions, such as length of service at the company or the reason for the loan, apply to the employee. Together with the employee, the amount of the loan and the repayment type (installment loan or annuity loan) are determined. Repayment methods and interest conditions are also discussed. The validity period and approval date are also determined.

If the HR department approves the application for a loan, all of the data required for the loan is entered in the system. A payroll run can be performed at a predetermined time to pay all of the loan. Once a specified period of time has elapsed, the employee starts to repay the loan.

See also:

Master Data for Loans

Loan Information

Repayment Plan

Creating Loans

Displaying Repayment Plan

Displaying the Balance

Correcting Incorrect Loan Data

Changing Loans

Deleting Loans