Enterprise OpenHRMS Loan Accounting
Manage Loan Request of Employees. Double Layer Approval of Hr Department and Accounting.
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Key Highlights
Loan Request
OpenHRMS Loan is a component of OpenHRMS suit. OpenHRMS Loan module helps the user to configure different loan policies, assign approval authority.
Approval
Conduct the approval process and sanction loan for employees.
Journal Entries
Create Journal Entries for loan request.
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Loan Approval
Enable the option "Loan Approval From Accounting Department" In Accounting Settings.
Add the deduction rule for loan in Salary Structure.
Employee can create loan request.
Approval
Once the HR department has given the Approval, the accounts department take the decision.
Generate Payslip
When we create the payslip, all the pending installments of the month will be listed there.
When we check the Loan request again, the deducted installments will be changed to 'PAID'.
Journal Entries created for Loan Request.
Employee can create loan request
Double approval from both HR & Accounting department.
Amount will automatically deducted from the payslip of the corresponding month.
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This module manages employee loan requests with a double-layer approval from the HR and Accounting departments, while also generating accounting entries.
Loan requests go through HR approval first, followed by Accounting approval before being processed.
Latest Release 18.0.1.0.0
10th March, 2025- Initial Commit
