A loan is money that one individual, organization, or institution lends to another individual, organization, or institution for a specific period. The borrower takes the loan intending to return the actual principal with interest. Keka provides you with an option to disburse loans outside of payroll. Follow the below instructions for the same -
Click on Payroll (1), once you click on the payroll please visit Loans (2), under Loans click on Loans (3), and select the outstanding loans (4).
Once you click on the Outstanding loans select the employee and click on the Edit (1) option under the Actions.
Once you click on the Edit option you will have a Disbursal Mode where you can select the option Outside Payroll (1).
Modifying the Disbursal mode is feasible only when the EMI has not been deducted for any month.
Now just click on Update to save the new loan settings
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