Tracking Loans

This chapter provides an overview of loans in Mexico and discusses how to:

Assign loans.
Create deduction assignments for loan schedules.
Calculate loan payments.
Run loan reports.
View delivered loan elements.

Understanding Loans in Mexico

In Mexico, there are different types of loans:

Company loans — given to an employee by the company.
Faltante de Caja loans.

A Faltante de Caja loan (cashier loan) occurs in the retail sector. When the cash register balance does not match between the existing cash and the cash reported, the cashier must replace the missing amount. This can be done with a loan.
INFONAVIT loans — given for purchasing housing.
FONACOT loans — given for purchasing appliances, such as refrigerators.

Assigning Loans

This section discusses how to define loan assignments.

Page Used to Define Loan Assignments

Page Name	Object Name	Navigation	Usage
Loan Assignment	GPMX_LOAN	Global Payroll & Absence Mgmt, Payee Data, Loans, Request Loans MEX, Loan Assignment	Define loan assignment information and a repayment schedule for payee.

Defining Loan Assignments

Access the Loan Assignment page.

Note. PeopleSoft Global Payroll for Mexico delivers the DIVIDE PRESTAMO driver accumulator that enables you to assign multiple loan deductions to an employee and process them for the same payroll calendar run by tracking their balances individually.

Loan Definition

Element Name	Select the element name that corresponds to the loan.
Loan Type	Displays the loan type. The system considers only deductions with a category of “PR” (loans), which are defined in the Category field on the Deduction Name page. Four types of loans have been defined in Customer Fields on the Deduction Name page: CRED INFONAV − for INFONAVIT loans PRESTAMO CIA − for company loans PRES FONACOT − for FONACOT loans FALTANTE CAJ − for cashier loans
Loan Number	Enter the loan number.
Date	Enter the date on which the loan was given.
Total Amount	Enter the total amount of the loan.
Payment Type	Select the payment type: Amount, Percentage or x Minimum. The Payment Type field applies only to INFONAVIT loans and refers to the type of loan that was originally granted. If an Amount loan was granted, then a flat amount will be discounted each period from the employee’s payslip. If a Percentage loan was granted, you must enter the percentage that is to be discounted in the Infonavit % field. If a x Minimum loan was granted, you must enter the number of minimum wages that is to be discounted on the x Min Wages field. Note. Depending on the value you select in the Payment Type field, different fields appear in the Loan Schedule group box.

Loan Details

In this grid can be recorded all the INFONAVIT Loans Action Types used by the SUA Loans Report.

Date	Enter the date that the loan action type comes into effect for the INFONAVIT loan.
Action Type	Select the action type of the INFONAVIT loan. The system displays all of the possible loan action types used by the SUA Loans reports.

Loan Schedule Setup

Periods	If the loan will be repaid over a period of time, you’ll specify the number of periods here. If you don’t know the fixed amount of a loan payment, but you know the number of periods required to discount the total amount, then you can generate your loan schedule based on the number of periods. In other words, you will define either the Periods field or the Amount field, but not both.
Amount	If the loan is a fixed amount (for a one-time repayment), enter the amount here. If you don’t know the total number of periods required to discount the total amount, but you know the discount to take off each period, then you can generate your loan schedule based on the number of periods to determine the payment amount each period.
Begin Date	Enter the date on which the loan repayment begins. The begin date must be after the loan date.
Frequency	Specify the frequency of the loan repayment. Values are Biweekly, Monthly, Semimonthly, and Weekly.
Create Schedule	If you selected a Company Loan (PRESTAMO CIA) or a FONACOT Loan (PRES FONACOT), click the Create Schedule button. When you click Create Schedule, the loan schedule is automatically created in one row indicating Begin Date, End Date and Payment Amount.

Loan Schedule

Begin Date/End Date	Enter the begin and end dates for the period of time on which the payment amount is valid.
Instance Number	The system automatically populates this field, establishing the sequence based on the payee and loan type. This enables you to assign more than one loan of the same type to a payee.
Payment Amount	If you selected Amount in the Payment Type field, the Payment Amount field appears. Enter the flat amount that is to be deducted from an employee’s payslip.
x Min Wages (times minimum wages)	If you selected X Minimum in the Payment Type field, the x Min Wages field appears. Enter the number of minimum wages that will be the payment for each period.
Infonavit % (percentage)	If you selected Percentage in the Payment Type field, the Infonavit % field appears. Enter the percentage that is to be deducted from an employee’s payslip. Typically, this is 20%, 25%, or 30%. If the loan was granted before January 30, 1998, the system looks up the value on the INFONAVIT Loans Percentage page and retrieves the corresponding discount. Otherwise, it will discount the percentage entered. For example, let’s say that an employee has a loan granted on January 1, 1997 with a 20% discount, an SDI of 100, and a minimum daily salary of 42.15 MXN. The number of times the minimum wage that the employee’s salary is will be calculated as 100/42.15 = 2.3724792. When the system is processing the loan data, it looks up the value entered on the INFONAVIT Loans Percentage page and sees that the number of times the minimum wage of 2.37 for a loan at 20% has a discount of 15.70%. See Defining Payback Rates.

Creating Deduction Assignments for Loan Schedules

This section provides an overview of deduction assignments and discusses how to define deduction assignments by positive input by loan type.

Understanding Deduction Assignments

After you define a loan schedule, the system creates a deduction assignment for each loan schedule. This is performed by a component interface. The process creates a link to the Element Assignment By Payee page using the following supporting elements.

Note. Make sure that each loan deduction you are using has a component reference name HC_GPMX_LOAN_GBL defined for it. You can define a component reference name for a loan deduction in Set Up HRMS, Product Related, Global Payroll & Absence Mgmt, System Settings, Configuration by Element.

Field	Variable
Loan Number	PR VR NUM PRESTAMO
Total Amount	PR VR MONTO TOTAL
Date	PR VR FECHA
Payment Amount	PR VR PAGO
Infonavit % (only for INFONAVIT loans)	PR VR PCT INFONAV
Times Minimum Wage	PR VR NUM SAL MIN

All of these variables are used by the process to keep track of each loan balance separately. These variables are also used to calculate the deduction for each loan.

Defining Deduction Assignments by Positive Input by Loan Type

This section outlines what you need to define in the deduction assignment for each loan type. You define deduction assignments on the Positive Input page in the core application.

See Working with Positive Input.

Company Loans

The loan number, total amount, loan date, and payment amount must be defined on the Positive Input page.

Faltante de Caja

The loan number, loan date, and total amount must be defined on the Positive Input page. The legal ceiling is calculated to determine the monthly payment. The legal ceiling is based on the monthly salary wage zone.

INFONAVIT Loans

The loan number, loan date, total amount, and either percentage, payment amount, or number of minimum wages must be defined on the Positive Input page.

There are three different types of INFONAVIT loans:

By Percentage.
By Amount.
By x Minimum Wages.

To calculate By Percentage loans:

Determine the initial SDI for the employee (bimonthly).
Calculate the payment based on the number of minimum wage zone salaries and the loan percentage.
Return the minimum between the payment and balance amount.

To calculate By Amount loans, find the minimum between the loan payment and the balance amount.

To calculate By x Minimum Wages loans, find the minimum between the Minimum Wage x Minimum Wage number and the balance amount.

FONACOT Loans

The loan number, loan date, total amount, and payment must be defined on the Positive Input page.

You’ll prorate the payment between the monthly days in the period and multiply this factor by the worked days.

Calculating Loan Payments

This section provides an overview of system elements for loan payment calculation and discusses how to calculate the different loan types.

Understanding System Elements for Loan Payment Calculation

There are several formulas and system elements to calculate loan payments.

Elements	Description
PR FM TOPE CAJA	The maximum discount per pay period
MONTHLY RT	Monthly rate
PS VR SAL MIN MES	Monthly minimum salary for the zone
PR VR MONTO TOTAL	Total loan amount
PR FM PAGO CIA	Company loan payment
PR FM PAGO CAJA	Cashier loan payment
PR FM PAGO INF	INFONAVIT payment
PR FM PAGO FONACOT	FONACOT loan payment

Calculating the Different Loan Types

This section discusses how to calculate the different loan types.

Company Loans

When an employee has one company loan, a loan payment amount is determined and deducted from the employee’s pay regularly as agreed upon by the company and the employee.

When an employee has more than one company loan, payment numbers are assigned to each loan and each loan has a separate cash balance.

Number	Loan Amount	Monthly Payment	Cash Balance
Payment number	Loan Balance	If the loan balance is lower than what you defined, then the monthly payment is equal to the loan balance; else the monthly payment is as defined by you.	Loan amount − Monthly payments

Faltante de Caja

You’ll define these parameters in the system:

Number	Faltante de Caja	Legal Ceiling	Operator	Cash Balance	Monthly Payment
Payment number	Cash balance + new Faltante de Caja	(Monthly salary − Monthly wage zone) * 30 %	Faltante de Caja < or > legal ceiling	Faltante de Caja − Monthly payments	If Faltante de Caja < legal ceiling, then monthly payment = Faltante de Caja; else, if legal ceiling > 0, then monthly payment = legal ceiling; else = 0.

INFONAVIT Loans

Employees can repay INFONAVIT loans in several ways:

Fixed amount − a monthly fixed amount will be deducted from the employee’s pay.
Percentage − depending on the original loan agreement, 20%, 25%, or 30% of an employee’s pay will be deducted.
Number of times the minimum wages − the number of times the minimum wage that is to be deducted from an employee’s pay is defined.

You’ll define your loan payment option on the Loan Assignment page.

FONACOT Loans

The system automatically sets the Payment Type as Amount and the frequency for FONACOT loans as monthly. The payment is calculated as follows:

Payment = (Monthly payment / 30) * (Days in the period − Absences)

The days in the period are taken depending on the period frequency, for example, monthly (30 days), semimonthly (15 days), biweekly (14 days), and weekly (7 days).

Running Loan Reports

This section discusses how to run loan reports.

Pages Used to Run Loan Reports

Page Name	Object Name	Navigation	Usage
Loans by Calendar	GPMX_RC_LOANS_CAL	Global Payroll & Absence Mgmt, Absence and Payroll Processing, Reports, Loans by Calendar MEX, Loans by Calendar	Lists all loans by Calendar Group ID.
Loans Payee	GPMX_RC_LOANS_PYE	Global Payroll & Absence Mgmt, Absence and Payroll Processing, Reports, Loans MEX, Loans Payee	Lists all loans by payee.

Viewing Delivered Loan Elements

Global Payroll for Mexico delivers these loan deductions:

Deduction	Description
CRED INFONAV	INFONAVIT loans
FALTANTE CAJ	Cashier loans
PRES FONACOT	FONACOT loans
PRESTAMO CIA	Company loans

Note. The PeopleSoft system delivers a query that you can run to view the names of all delivered elements designed for Mexico. Instructions for running the query are provided in the PeopleSoft Enterprise Global Payroll 9.0 PeopleBook.