Book Loan Cease

Explanation

This activity is used to cease a loan registered to an employee. The fact of ceasing needs to be reflected in accounting and finance for reporting purposes.

Prerequisites

In order to perform this activity, a loan with ready pre-postings and in Ceased state is required to be present in the system.

System Effects

• The loan cease is booked and transferred to the general ledger
• The cease transaction cannot be modified

Window

Loans and Contribution

Related Window Descriptions

Loans and Contribution

Procedure

1. Open the Loans and Contributions window and find an employee for whom you want to book a ceased loan.
2. Go to the Loans tab, right-click the loan, point to Loan Cease Booking and click Book Repayment option.
3. In the Book Payroll wizard window, verify the voucher date.
4. Select a user group in company finance to which the user belongs in the User Group field. You can use the value list. The choice of group determines which types of vouchers are available for booking the transaction.
5. Select the type of a voucher which will be created for the loan payment in the Voucher Type field. You can use the list of values.
6. Click OK.