Hi,
Is there any way to deduct the advance (loan taken by employee) from their final pay?
How to process the final payslip to recover the loan amount.
I managed to resolve the issue myself. The advance can be added once the final pay is processed, and the loan amount will then be deducted from that final pay.
Thank you
Hi VB_stagler123 I'm assuming you have already been taking a payback deduction. If not setup a post tax deduction to deduct the amount form the final pay. You would need the employee's permission to do this.
Hi Jenniek,
Thank you for your response. To clarify, there was no payback deduction set up. However, the employee has consented to having the advance amount deducted from their final pay.
Because the advance exceeds the employee's standard weekly pay, the deduction cannot be processed through the weekly payroll. Instead, I am attempting to process it through the final pay to ensure the full amount is deducted and properly recorded.
I managed to resolve the issue myself. The advance can be added once the final pay is processed, and the loan amount will then be deducted from that final pay.
Thank you
