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:
Apply a rate to the loan principal value and then divide this value by the number of installments to make them fixed values.
Apply a monthly rate on the total due value of the loan and subtract the agreed fixed portion plus adjustment.
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.