Understanding Employee Loans
This topic discusses:
Delivered loan deduction.
Process lists and sections.
Viewing delivered elements.
This table lists the deduction elements delivered for loan repayments:
Name/Description |
Unit |
Rate |
Base |
% |
Amount |
---|---|---|---|---|---|
LOA DD LOAN Employee Loan |
N/A |
N/A |
N/A |
N/A |
System Element — Numeric |
LOA DD EXCEP Loans — Exceptional repayment |
N/A |
N/A |
N/A |
N/A |
System Element — Numeric |
Note: We also deliver a deduction element, LOA DD TEMP, which is a temporary deduction used during processing.
For employees with more than one active loan, the system resolves the loan deduction element for each loan. For example, if an employee has 3 loans, the payroll results list three occurrences of LOA DD LOAN, with a separate result for each loan. Multiple resolution of the loan deduction is triggered by a driver accumulator, LOA AC LOAN DRV. This driver accumulator has two user keys LN VR LOAN ID (for loan ID) and LN VR LOAN TYPE (for loan type). The driver accumulator is discussed in the next topic.
This topic discusses:
Accumulators
Formulas
Writable arrays
Accumulators
This table describes the key accumulators used in loan processing:
Element Name |
Description |
---|---|
LOA AC LOAN DRV |
The driver accumulator that triggers multiple resolution of the loan deduction LOA DD LOAN. There are two user keys for this accumulator, LOA VR LOAN ID and LOA VR LOAN TYPE. Multiple resolution is discussed in the PeopleSoft Global Payroll product documentation. |
LOA AC LOAN SEG |
Loan segment amount (per Loan ID). |
LOA AC EXCEP SEG |
Segment accumulator that stores exceptional amounts. |
LOA AC LOAN TOT |
Stores total amount repaid per Loan ID. |
Formulas
This table describes the key formulas used in loan processing:
Element Name |
Description |
---|---|
LOA FM CALC |
The formula attached to the loan array LOA AR MAIN. It calculates the regular loan deduction. |
LOA FM CHECK |
Post process formula attached to the loan deductions LOA DD LOAN and LOA DD EXCEP. It checks for positive input entries. |
LOA FM DED RECIPNT |
Deduction recipient formula attached to the loan deduction LOA DD LOAN. If you want to use general deduction recipients for loans, you must modify the formula with your loan types and deduction recipient IDs. |
LOA FM WA |
Post process formula attached to the temporary deduction LOA DD TEMP. It writes the loans calculation for the period into the writable array LOA WA LOAN. |
Writable Arrays
This table describes the writable array populated by loan processing:
Element Name |
Description |
---|---|
LOA WA LOAN |
Used to store the employee loan results. Use the Review Loan page to view the loan results. |
The loan deductions are members of the GBR SE LOANS section that is included in the GBR PR PAYROLL process list.
If you set up your own sections and process lists, you must ensure that the loans section is processed after the statutory deduction sections for tax, NI, court orders and student loans.
The PeopleSoft system delivers a query that you can run to view the names of all delivered elements designed for the United Kingdom. Instructions for running the query are provided in the PeopleSoft Global Payroll product documentation