Loan repayment by employee

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To create a cash receipt to record a loan repayment that an employee makes to a company:

1. Do one of the following:
   • To generate a cash receipt based on a source document, select or open the source document. Then, click Generate > Cash receipt. For example, a source document can be a loan contract with Loan type set to Lent to employee.
   • To create a cash receipt from scratch, go to Cash management and under Cash-in-hand, click Cash receipts. Then, in the Cash receipts list, click Create.
2. Specify general details:
   • Set Operation to Loan repayment by employee.
   • Select Employee to indicate an employee that received a loan and makes repayment.
   • Specify Loan contract to indicate a contract that defines the loan terms.
   • Fill in Amount to indicate the total payment amount.
     To enter the amount manually, first, click button (pencil icon will become green). To automatically calculate the amount as the Loan account statement tab is filled in, click button (pencil icon will become grey).
   • Fill in Cash account to indicate a company’s cash account for receiving the payment.
   • Fill in other fields as necessary.
3. On the Loan account statement tab, specify payment details:
   • To populate the payment details from the specified loan contract, click Populate from loan contract and select the payment details that you want to populate. For details, see Populating payment details from loan contract.
   • To add the payment details manually, click Add and fill in the details. For details, see Loan account statement tab for Loan repayment by employee.
4. Optional: On the Additional information tab, specify additional information.
5. Click Post and close.

Populating payment details from loan contract

To populate payment details from the loan contract:

1. On the Loan account statement tab, click Populate from loan contract.
2. Select the payment details that you want to populate. Consult the following table:

   Field	Description
   Next payment	Add a payment scheduled on a date in the future that is closest to the cash receipt date. For instance, the loan contract states that the payments are scheduled for the first day of every month, while the cash receipt date is June 15, 2021. Then if you select Next payment, this adds a payment scheduled on July 1, 2021.
   Previous payment	Add a payment scheduled on a date in the past that is closest to the cash receipt date. For instance, the loan contract states that the payments are scheduled for the first day of every month, while the cash receipt date is June 15, 2021. Then if you select Previous payment, this adds a payment scheduled on June 1, 2021.
   Remaining debt	Add the total unpaid amount of the loan principal and accrued interest and commissions. The accrued interest and commissions comprise only the amounts registered in "loan interest(commission) accruals" documents.
   Complete early repayment	Add the total unpaid amount of the loan principal, interest, and commissions. The interest and commissions comprise the amounts registered and the amounts not yet registered in "loan interest (commission) accruals" documents.
   Overwrite existing data	Clear the repayment details from the Loan repayment details tab before populating the repayment details from the loan contract.

3. Click Fill.

The selected repayment details appear on the Loan repayment details tab. You can edit them.

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