Introduction/Purpose:

The Loan Master module in HRMS (Human Resource Management System) is to add different types of Loan provided in the organisation such as Home Loan, Personal Loan, Salary Advance etc.

How To Navigate: 

The navigation to a Loan Master in a HRMS typically involves the following steps:

• Click on the main navigation icon: The main navigation icon located in the top  right corner of the screen. Clicking on this icon will open the navigation menu, which typically includes links to various sections of the HRMS system.

• Click on the Loan & Advance section: The Loan Master is located under the masters section. By clicking on the loan master, it will display a name, loan category, code, interest rate, interest calculation term, added by, added date, updated by, updated date and approval status.

Listing: 

• Quick Search: By using this feature, users can quickly search for specific records within a listing. By using the filter search based on the respective column details.

• Show all listing records: By using this feature, the user can refresh the listing records within the system.

• Advanced Search: By using this feature, the user can use the advanced filter option to find the listing records within the system.

• Export: By using this feature, the user can extract data from the system and save it in a compatible format like Excel, CSV, or PDF (only PDF supports landscape and portable formats). 

• Hide and Show Column: By using this feature, the user can customize the display of columns in a listing. Users can select the column name and show specific columns based on their preferences.

• Delete Row: By using this feature, the user can remove a specific record from a listing.

• Pagination: By using this feature, the user can view the records of the various pages and also increase or decrease the listing rows in a page.

Recording & Update:

The loan master in HRMS typically includes:

• Name*: This field represents the name of the loan category.

• Print Name*: This field is used to enter the display name of the loan category.

• Loan Category*: This field is a dropdown option where users can map the Loan Master to a Category (Group) like Loan or Advance.

• Remark: This field is for adding any remarks related to the loan category.

• Description: This field allows users to provide details about the loan Master.

• Calculation Logic (Eligibility Limit):

• Calculation Type: This field determines the type of calculation that would apply for the Loan Master, such as a percentage, fixed and formula.

• Calculation Value*: This field represents the value used in percentage calculations.

• Repay Component: This field is a dropdown option where you can choose the deduction component under which the Loan instalments would be recovered.

• Interest Rate*: This field is used to enter the interest rate applicable for the loan Type.

• Calculation Term: User can select appropriate option based on which the Interest rate will be applied such as annually, monthly, quarterly, etc

• Guarantor Required: This field indicates whether a guarantor is required for the loan category.

• Select Ledgers: The User needs to add the below-mentioned details if the system is linked to multiple platforms.

• Loan Advance GL: This field represents the selected General Ledger for the loan advance.

• Interest GL: This field represents the selected General Ledger for the loan interest.

• Document Checklist: This field lists the required documents/checklist for the loan category are as follow:
  • Aadhar Card
  • Pan Card
  • Electricity Bill
  • Last 3 months Salary Slip
  • Voter ID Card
  • Last 6 Month Bank Statement

Note: “*” represents the mandatory fields to be entered by the user.

The user can perform the following actions in this section:

• Discard: This option allows the user to discard the changes before saving it.

• Submit: This option allows the user to add the Loan master in the system.