How can admin edit employee’s loan amount?

The loan amount refers to the total sum of money that is borrowed from a lender or financial institution.
The admin edit can edit the employee's loan amount on the greytHR's Salary page.

To edit an employee’s loan amount, the admin must perform the following actions:

1. From the greytHR Admin login, navigate to Payroll > Payroll Inputs > Salary. The Salary page opens.
2. From the Search Employee search box, search for the employee whose loan amount you want to edit. All the salary-related components of the selected employee appears.
3. Under the Component Group table, open the component you want to edit. Let us consider the example of Loan.
4. To edit Loan, click the Edit icon available next to the Other Loan component. The Edit pop-up appears. You can also click Edit available on the right side of the screen.
5. On the Edit pop-up, click +Add row. 
6. Under From Date column, double-click in the column to select the effective date of the new loan value.
7. In the Amount text box, enter the new amount of loan you want to pay the employee.
8. In the Remarks column, specify the remarks for the employee. 
9. Click Save to save the new value of the loan. A success message appears.
10. On the Salary page, click Process Payroll to update the new value of loan in the employee's salary structure. This step is essential to complete the process of editing components.

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Related Links:

Video- To watch a video on Salary, click here.

FAQs- To read more FAQs about the loan amount, click here.

Documentation- To read more about the Salary page, click here.

Product Update- To read about the product update, click here.