Disbursement of Loan is when the agreed loan amount is paid to the employee's account and is available for use.
Please note: The Repayment Start Date should be greater than or equal to the current payroll month.
Loan Disbursement can be done for more than one employee using the Import Option.
To import the Loan Disbursement, follow the below steps:
On the Home Page click “Transactions”
Go to “Spend, Loan Management”.
Click “Salary, Loans and Advances”.
Click “Loan Disbursement Import” under “Import”.
Click “ Download template here”.
Update the file with the loan details and save it to the local drive.
Click “Choose File”.
Click “Import”.
Click "Save".
The loan is now reflected in the disbursement list.
You can also use the import option under TransactionàSpend, Loan ManagementàSalary, Loans, and AdvancesàWorkflowàDisburse LoansàImport.