NavigateERP for African business

Staff loans

Recorded by payroll, recovered on a schedule.

Steps

  1. Go to Payroll โ†’ Loans: employee, purpose, amount, months, method and interest.
  2. Choose Paid out from a bank account - or an existing balance (e.g. an IOU being converted).
  3. Installments are reserved by a draft run and paid when the run is approved.

Good to know

  • A wrong loan can be corrected: what was deducted stays, only the rest is rescheduled.