Overview of Loan and Advance in HRXPERT Software

Process of Loan and Advance in HRXPERT Software

Overview of Loan and Advance in HRXPERT Software

• Loan and Advance are two financial terms that refer to funds provided by one party to another.
• In HRXpert Software, an employer can also maintain the Loan & Advance process given to an Employee. The employer can maintain the all details of Loan and Advance.

Process of Loan and Advance in HRXPERT Software

• Go to Loan/Advance Master > Loan & Advance Master.

• The employer will click on 'Add'.

• In 'Loan/Advance', the employer will select loan or advance as per the requirement.
• Suppose select 'Loan'.

• In 'Employee Name', the employer will select the employee name to whom loan needs to be given.
• Suppose select 'Munesh'.

• In 'Loan Amount', the employer will select the Loan Amount asked by the employee.
• Suppose mention '12000'.

• In 'Date Applied', the employer will select the date on which loan has been applied.
• Suppose mention '01-08-2023'.

a. Loan Approved: Mention the loan amount that has been approved.

b. Date Applied: The user will select the date on which loan has been approved.

c. EMI Amount: The user will mention the EMI Amount for each month.

d. EMI Start Month: The user will select the month from which EMI will start.

e. Purpose of Loan: The employer will mention the purpose of loan for which loan has been taken.

• In 'Loan Approved By', the employer will select the name by which loan has been approved.
• Suppose select 'Mr. Manish'.

• Now, the employer will click on 'Save'.