Calculating Loan Payment

You use LOAN for earnings supplied to the employee as a loan or salary advance. When it is paid, a deduction is used to pay back the loan over subsequent pay runs. This earning element uses an amount calculation rule. You enter the amount at the payee level. The system automatically begins to recover the payment using a payback deduction process. There is no proration.

LOAN contributes to the following accumulators:

• SGP GROSS.

• LOAN_CMTDA.

• LOAN_CYTDA.

• LOAN BALANCE.