Loan Master helps create the various loans applicable to your company. The loans created can be selected when adding new loan records.
Follow the steps below to create a loan.
On the Home Page, click “Transactions.”
Go to “Spend, Loan Management.”
Click “Salary, Loans, and Advances.”
Click “Loan Master” under “Configure.”
Enter the following details:
Loan Name
Abbreviation of the loan
Select the loan type from the Map To drop-down list.
Enter the “Interest Effective Date.”
The applicable interest rate is populated based on the current prevailing rate. You can update/modify the same.
Check the box “Is Active.”
Click “Save.”
The created Loan will be displayed.
Note: The video outlining the process is attached for your reference.