# Open HRMS Loan Accounting

### Manage Loan request of employees

## Key Highlights

- Employee can create loan request.
- Loan amount is deducted from the salary.
- Double layer approval, from Accounting & HR Department.
- Current month installment is automatically listed in payslip.

## Overview

### TOpen HRMS Loan is a component of Open HRMS suit. Open HRMS Loan module helps the user to configure different loan policies, assign approval authority, conduct the verification process and sanction loan for employees.

## Configuration

### No additional configuration required.

## HR Organizational Chart

- Employee can create loan request.
- Loan amount is deducted from the salary.
- Double layer approval, from Accounting & HR Department.
- Current month installment is automatically listed in payslip.

## Screenshots

### Enable the option "Loan Approval From Accounting Department" In accounting settings

### Add the deduction rule for loan in Salary Structure.

### Employee can create loan request

### Once the HR department has given the Approval, the accounts department take the decision.

### When we create the payslip, all the pending installments of the month will be listed there.

### When we check the Loan request again, the deducted installments will be changed to paid.

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