Loan repayment from salary not deducting in payslip

I’m trying to use the loan module. I’ve created a loan, approved it and disbursed it. I ticked repay from salary.

The disbursement schedule shows that this loan should be deducted month end, but when I preview salary slip, loan is not being deducted from salary slip.

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bump!

Same issue I’m facing in v13. Could anyone please help us to figure it out?

You’re supposed to run Process Loan Interest Accrual every month for the debit order to be raised. It’s only then that it will appear on your payslip.

However, you will face another issue once your loan repayment from salary is processed as the loan repayment debit entry will go to your bank instead of salary ledger. Also, the loan amount will still show in payroll payable in salary journal even though the debit and credit legs for the loan is processed as a separate journal entry. The whole loan management refactoring has broken a lot of things and I do not see any action to try to fix it.

I’ve searched for a workaround for this and posted in the community but the post has been ignored up until now. So the issue is there and still ignored.

Still now facing this issues. Anyone has any update?

Thank You!

same here , any solution .?

Do as @flexy2ky suggested and loan repayment in salary slip will show

@flexy2ky this is really a serious issue. I remembered in version 12 that immediately you book a loan, it will appear on the salary slip. Though I was part of people who suggested that it will be better for a loan to have been disbursed before the repayments will be deducted from the payslip.
I am surprised that in version 13, even after disbursement the loan still doesn’t show on the salary slip.

I saw a suggestion from @Fred1 on creating LOAN INTEREST ACCRUAL before it can show. Well… My issues with that are:

  1. Why creating loan interest accrual when my loan type has zero interest rate? (Could it be because they made interest a mandatory field in loan type, which should not be so because some company’s loan to employees is interest-free.
  2. I have over a thousand employee loans to manage and some of these loans have a repayment plan of over 36 months (3 years). Does it mean that I have to go through over a thousand loans to create Loan Interest Accrual every month?

If something like that(Loan interest accrual) is really necessary, it should be able to create automatically as soon as the loan repayment schedule table is created.

I am already looking at another way to solve this loan headache but the problem is that I won’t be having a comprehensive loan report if I decide to go that route.

The route I am considering:
I want to create all my loan types as components, and use Additional salary form to bring them into the salary slip, since version 13 has the recurring date feature on the additional salary form. I can easily put the payback period using the date range.
But with this, I won’t have a comprehensive loan report. I won’t also have repayment-to-date accumulating on the payslip to enable the staff see how much he/she has paid so far.

I’m facing same problems with V13.
Is that solved already?

I think the loan interest accrual is now automated. Not sure if this is a V13 enhancement. I’ll test and revert.

I’m facing same issue with version 13.

Really? Please have checked if it,s working now? I can’t wait to see that feature work.

is it fixed? i am facing same issue.

me also have the same issue

@emmakezie I can confirm that the loan interest accrual is now automated. you no longer need to run it monthly for loan to show up on payslip. but you must ensure that the repayment date occurs before your payroll processing date so that the loan accrual would have been generated.

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The auto entry runs on 1st of every month but we run payroll on 31st. Can anyone please advise how to change the default date of this auto loan accrual processing?

@flexy2ky you are right. But the biggest issue with deducting a loan from salary is in the LEDGER ENTRIES.
It’s adding up on the payroll payable account instead of a seperate loan account

@emmakezie I am not sure I completely understand what your challenge is but a loan repayment entry is created once the payroll entry is submitted. This loan repayment entry is what creates the ledger entries. Payroll Payable is debited, and the Loan Ledger and Salary are credited.

Still having the same issue for a 0% interest rate loan type. Not working in v14.