How to alter repayment amount and preclose a loan
This video demonstrates how to alter the repayment amount and preclose a loan in HRBluSky’s Loan Management system. It guides users through navigating the Payroll module, editing loan installment details, and selecting repayment adjustment options. It also covers the steps to preclose a loan by specifying the payment mode, selecting a preclosure date, and uploading relevant documents.
Notes:
Navigate to the Payroll module and select “Loan Management” to view loan statuses.
For loans under “Being Repaid,” edit installment details to adjust repayment amounts.
Adjustment options include:
- Adjust to Next Installments.
- Distribute Evenly with Remaining Installments.
- Add as Additional Installments.
Save changes to reflect updates in the upcoming payroll.
To preclose a loan:
Click “Preclosure” and select the repayment mode (cash, cheque, or payroll).
Specify the preclosure date and upload any relevant documents.
Save to complete the preclosure process.
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