loans

Can I record loans disbursed and partially repaid in the prior payroll?

Yes, for loans disbursed and partially repaid in the prior payroll, you can include the loan amount and perquisite balance for the remaining repayments and track them in Zoho Payroll. Once you add the prior payroll details, record the loan. To do this:

Record Loan

Note: Loan Opening Balance is the remaining loan amount to be repaid by the employee. Perquiste Opening Balance is the sum of perquisite values calculated based on the loan amount repaid.

Record Loan Details

Once this is done, you can continue the repayments as post-tax deductions for the employee until the loan is fully repaid.

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