How to use Loans in Payroll Run?

Payroll loans similarly impact your salary by diminishing the total gross earnings, which results in a lower net income or take-home amount.

Learn the process of uploading Loans, master the skills needed to handle their removal and adjustments, and ensure precise payroll computations in AanyaHR.

Outlined below are the features and processes of AanyaHR about Loans in any given payroll cycle.

1. Click Payroll and select Payroll Run

   

2. Once the specific Payroll Run is selected, click the ellipsis icon (3 vertical dots) and select Edit.

   

3. Navigate to the Loans Module and choose a specific option from the dropdown menu within the Transaction section.

   

4. In the Transaction dropdown, you have to choose between two selections.

   

   • Edit - If you wish to manually modify a specific previously uploaded Loan entry, you can select Edit.

   • Add - If you wish to upload a New Loan for this specific pay run, select the Add option.

5. Please refer to the procedures below on using the Edit Transaction Type.

   • How to Edit Transaction in the Loans Module in Payroll Run?

6. When adding, you are presented with two (2) options within the Loans Transaction Type.

   • Manual adding of Loans - refers to manually inputting deductions into the system.

   • Upload - Utilize a loan template to upload the data; this refers to entering loans into the system using a template.

   • Adjustment - refers to any change to be made or modifications to a certain loan amortization Amount

     

7. Please refer to the following procedures for instructions on using the specific Add Transaction Type.

   • How to Add Transaction in the Loans Module in Payroll Run?

Go back to:

How to Run Regular Payroll?