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How to Transfer Employee Loan to Company B from Company A or Close Unmatured Loan V12

An employee was recently transferred from Company A to Company B using the Employee Transfer tool in Human Resources module but has an existing loan in Company A. This loan was however not transferred to Company B. During payroll processing, the Journal Entry tries to make an entry in Company A Journal for loan repayment which is not possible hence i am unable to submit payslips and close payroll processing for the month.

Is there a way i can transfer the loan to Company B or is there another process for resolving this?

Suppose employee gets transfer from one company code to other, you need to close the loan in previous company code and open the remaining amount in new company code.kindly let me know if u have any other query.

@Suresh_Thakor Thanks for the info. I figured as much. But there’s no instruction on how to close a non-matured loan. I’d appreciate steps to achieve this.

Anyone with help on this will be appreciated.

Still no help… anyone? If transfers are not possible, how can i close an existing loan in V12 without having to cancel the loan entry?