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.

See Understanding Multiple Resolutions.

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.

See Setting Up Deduction Recipients.

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.

See Viewing Payees' Processed Loans.

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