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Payroll - Loan
The aim of this post is to provide sample case study for beginners in Oracle Payroll. This case study
will take you through the real time requirements in payroll for UAE legislation. In further posts we will
be dealing with scenarios related to costing and resolution for issues during payroll support.
1. Loan Setup
Case: In your organization, an employee is eligible to apply for a loan. Now the administrator will
determine the number of installments required to recover this loan. This loan is internal and does not
require payment to be made to a third party.Let us keep it very simple. Oracle Payroll by default
provides elements for Handling Loans. You may use these or create you own, as I have done for
simplicity sake.
Approach: You need a non-recurring element, something that the admin will add in the element entries
to say that in this run the loan is to disbursed to the employee. Then recurring elements for deducting
the installment in subsequent runs until the entire amount is repaid. Also the corresponding balances
need to be created. Then we write the fast formula for processing the loan and validations if any. Define
the formula result. Go to the element entry screen add the loan element and run the quick pay to check
our setup.
Element
Classification Voluntary Deductions
Type Recurring
Termination Rule Last Standing Process
Other Options Process in Run Once in Each Period
Priority 7550
Number of
Input Values Loan Amount(Money)
Installments(Number)
Balance Loan
Feeds Loan Repayment(Add)
Assignment Inception to Element Entry Inception
Dimension Assignment Run
Date to Date
___________________________________________________________________________________
Note: This has already been processed, hence the check and end date.
Quick Pay Results: People>Enter and Maintain>
1.Select the employee
2. Click on Assignment
3. Click on Others
4. Click on Quick Pay
February:
March:
July: