Skip to main content
The loans module records the money the company lends to its employees and recovers it automatically by deducting an installment in each payroll.

​
Register a loan

1

Go to Human Resources → Employee Loans → New Loan

2

Select the employee and write a description

For example “Personal loan” or “Salary advance”. Loans are only granted to active employees.
3

Enter the amount and the installment per payroll

The form shows the approximate number of installments. The installment cannot be greater than the amount.
4

Set the grant date and when to start deducting

It is deducted in payrolls whose period ends on or after the Deduct from date.
5

Save

​
Payroll deduction

When generating the payroll, FileXpress automatically deducts the installment of each active loan: The deduction appears on the employee’s pay stub as Loan: (description).

​
Tracking

The table shows, per loan, the amount, the installment, the progress paid, the balance, and the status (Active, Paid, or Cancelled). The detail shows each payment, with its origin (payroll or manual), and from there you can:

​
Final settlement

If the employee has outstanding loans, the final settlement shows a notice with the balance. If it should be deducted, record it in Other adjustments (as a negative) and then record the payment or cancel the loan.

​
Accounting

Set up the Employee loans account (receivable account) in Accounting Settings → Payroll and Provisions. In the payroll accrual journal entry, the deducted installments are recorded as a Credit to that account.