Step-by-step guide on issuing employee loans on Workpay.
On the MAIN Menu, click “Payroll” then click on “Loans”.
Before issuing a Loan, you need to create the loan Categories first by following the steps below.
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Click on the "Loans setting" button on the top right corner of your page.
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Click on Create Category.
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Add the Loan Category Name.
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Select the Loan Type(Fixed, Simple or Reducing).
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Add the Monthly rate.
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Add a Loan Description.
How to Issue A Loan
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On the MAIN Menu, click “Payroll” then click on “Loans”
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Click on “Issue Loan”
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Select Employee
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Select Loan Category.
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Enter the start date
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Enter initial amount(Principal)
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Select the number of months
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Enter Reason For Loan
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Click on SAVE.
NB: Loans that will appear on the payslips of the employees are those that are activated and disbursed or marked as disbursed and fall under the specified start and end date when running payroll.
After issuing a loan the status will be pending and need activation.
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Click on the three dots and select approve.
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Under Approved tab loan click on three dots and select either "Disburse" or "Mark as disbursed".