You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Loan Deduction Elements - How can we apply Manual Re-Payments to End Date Element



We have a case where employees are repaying loan elements manually and NOT thru the Payroll process.

Our expectation was that using a balance adjustment, the re-payment would reduce the employee liability by updating the accrued amount for the loan element and eventually end date the loan element. This does not work as expected.

***NOTE - The normal payroll process works correctly. Once the employee accrued amount reaches the total owed, the element is end dated and is no longer deducted.

Content (required):

Example- Loan Deduction Element....$20/week.....Total Owed $1000......Pay Towards Owed = 'Yes'

Employee has $1000 loan that is repaid $20/week for 50 weeks - After week 25 the accrued amount is $500

Howdy, Stranger!

Log In

To view full details, sign in.


Don't have an account? Click here to get started!