Employees can apply for loans using the OpenHRMS Loan application with details such as loan amount, instalment payment date, number of instalments, attachments etc. The application is now integrated into the Employees application and can be accessed from Employees > Loans & Advances.
Use the Employees > Loans & Advances > Request for Loans to see the list view of the Loan requests. By default, ‘My Requests’ filter will be applied, remove the filter to see the loans requested by all employees if you are a Manager.
Click on the ‘Create’ button to create a new Loan request. Select the employee and fill in other details such as the loan amount, payment start date etc. Click on the ‘Compute Instalment’ button on the top after specifying the No. of instalments. This will calculate the payment date and the amount to be paid in the below ‘Instalments’ tab. Then we can submit the request and wait for the approval.
We can request for Salary Advance from Employees > Loans & Advances > Request Salary Advance. Fill in details such as the employee name, Date, Advance amount, reason etc. and then submit for approval.
Salary advances to be approved can be found from Employees > Loans & Advances > Salary Advance to Approve.