Creating Loans

Prerequisites

You have received the information that you require to create a loan for an employee. It is forbidden to create a date for periods calculated already.

Procedure

  1. Choose Human resources ® Personnel management ® Administration ® Maintain master data.
  2. Enter the employee's personnel number.
  3. Enter 0045 in the field Infotype and select the required loan type in the field Subtype.
  4. The loan type must be specified on the menu screen as a subtype when a new record is created. When data is entered in Infotype 0045 Company Loans, entries can no longer be made in this field. If you have specified an incorrect loan type, cancel the function to create a loan and then recreate the loan using the correct loan type.

  5. Select the function Create.
  6. In the fields From - To, enter a validity period for the loan. The end date must be later than the expected repayment end date.
  7. In the field Sequential number, enter a number for the loan. Use 01 for the first loan type, 02 for the second and so on.
  8. An employee's first building loan is assigned sequential number 01, the first car loan is also assigned sequential number 01. The second building loan is assigned sequential number 02.

  9. The field External number enables you to enter a number for reporting functions that are not part of the payroll system, such as in financial accounting.
  10. Enter proper data in Conditions fields. Date fields are used in repayment planning.
  11. Enter proper data in Approval fields except field Approval date. Amount information is used in repayment planning.
  12. Enter proper data in Other information fields. Field Taxed indicate if interest support is taxed or nor in payroll calculation.
  13. After entered in the required field, before save your entries, you have to create a repayment plan. The function for it runs with push button ‘Repayment plan’ (see Creating repayment plan).
  14. If this loan is approved, entry date in field Approval date.
  15. Save your entries.

Result

A loan and corresponding repayment plan are created for the employee and can be released for payment.