Understanding Loans and Advances
PeopleSoft Global Payroll for Spain enables you to process loans and advance payments made to employees through the payroll. You pay the loan or advance with the employee's pay or in cash for one pay period, and then take repayments from the employee's pay over successive pay periods until the amount is repaid in full. (Advances must be repaid over a single period.) Use the Advance/Loan page to enter details of an employee's loan or advance, and the system records the repayments on the Payment Schedule page.
This diagram illustrates how loan and advance repayments fit into the overall pay process flow of PeopleSoft Global Payroll for Spain. Loan and advance repayments are voluntary deductions, which are deducted after statutory deductions. They appear in the process list after the statutory deductions.
