Adjusting Loan Payments

Adjustments can be handled using Global Payroll rules. If you want to adjust the amount of the loan payment deduction you create a new deduction which provides a rule to reflect adjustments (changing amount or applying a factor to the deduction).

The three methods of adjusting loan values are:

1. Apply a rate to the loan principal value and then divide this value by the number of installments to make them fixed values.

2. Apply a monthly rate on the total due value of the loan and subtract the agreed fixed portion plus adjustment.

3. Adjust only the agreed fixed portion of the installment by a monthly rate, disregarding the principal value of the loan.

Although some companies charge interest on loaned values, this situation is uncommon.