Add Loans for Employees in Harvester Payroll

Use the Settings page and then on left hand side click on Employee Settings. On right hand side click on Edit-Loans for employees. For adding New loans, at the bottom of this Edit-Loans page is the add-icon you can click to add a new loan. Don't use edit an exiting loan to try and add a new loan unless you want to edit an exiting loan already assigned to an employee. Just enter the total Outstanding Loan and the optional Loan Repayment amount. Leave the Interest and the Period fields as 0. Note1: If an employee has already started paying back a loan BEFORE using Harvester, it is suggested that you add the current, outstanding loan value so that from the current month going forward the remaining loan balance is accurate.(Then you do not need to edit a historic amount as well.) Note2: When you add a loan or edit a loan it will only be reflected the next time you process pay. It is best to FIRST ADD THE LOAN and THEN process the payment for the current month. If you process pay using Offline_Input, then FIRST ADD THE LOAN BEFORE you prepare for offline input. If you have already processed an employee's current payment BEFORE you added the loan, then you would need to Submit the payment again (using Edit Payments) to see the loan details captured. Whatever you enter in the loan repayment amount will be auto loaded when you process the pay for the next month. However you can still edit this default loan repayment on the actual normal payment capture screen. You can always change the default loan repayment in the Edit-Loans on the Employee Settings page. Note3: When you first add a loan, harvester online does not auto calculate the Loan-Repayment-Amount according to the loan period. Note4: The loan feature allows for a single loan at a time. If an employee takes out a second loan, then you need to edit the outstanding amount for the loan by adding the new loan amount to the initial loan amount. Type "Loans" and select "Loans Outstanding Loan Value" in help to see how to do this. If you need a second loan and you want it to be completely separate to this, then it is best to use one of the custom extras and set it up as a loan and call it "Loan2" for example. However, you will need to keep track of the outstanding balance for this second loan as it will behave like a normal deduction. The "Period" and the "Interest rate" fields are not used now, but will possibly be used in the future.