Someone should please help me with an answer, i am having difficulties working with the loan features in this version 13.
I noticed that loan repayment doesn’t deduct on the payslip even when the loan has been disbursed.
I have read some similar topics to this and have seen some comments too.
I still have some questions:
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In one of the responses I read from a similar post, we were advised to create LOAN INTEREST ACCRUAL before running payroll: For someone that has numerous loans to manage, do I need to process the loan interest accrual for each and every one of the loans or should one single processing cater for all loans for that month?
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Is it not possible for the Loan interest accrual to be created automatically just as Loan repayment schedule is created automatically when you submit a loan?
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I saw where it says on the manual that; Loan interest will be accrued one day before payment day for term loans by a background job.
Does the background job mentioned on the manual meant the same thing as the automatic I am asking for in question 2? If YES, why then do we need to process the loan interest accrual manually every month before loan repayment can show on the payslip? If NO, can someone please explain to me how the background job I read on the manual works.