Open HRMS Loan is a component of Open HRMS suit. Open HRMS Loan module helps the user to configure different loan policies, assign approval authority, conduct the verification process and sanction loan for employees.
Install the Module "Open HRMS Loan Accounting" in order to enable Accounting Entries.
The employee can create a loan request.
The loan amount is deducted from the salary.
Double layer approval, from Accounting & HR Department.
Current month installment is automatically listed in payslip.