Balance Full Settlement as part of Payroll

Balance Full Settlement Payment as part of Payroll

"Balance full settlement payment" refers to the complete repayment of the outstanding loan balance by an employee, typically through deductions from their salary or wages

A balance full settlement payment as part of payroll in employee loans signifies the complete repayment of the loan by the employee, typically through deductions from their salary or wages until the outstanding balance is settled.

To view the Balance Full Settlement Payment as part of Payroll screen, Login to SPARC > Menu > Loans 

Steps to Balance Full Settlement Payment as part of Payroll : 

1. Login to SPARC as HR
2. Navigate to the Util menu and click on the 'Loans' function. A screen similar to the one below will open, where you can select the Employee ID from the dropdown menu. When clicking on Load Employee Loans, if the employee already has an existing loan, proceeding to More Details will direct you to the existing loan status, as shown in the screen below