Employee Loan


I’d like some help on this please. Certain employees have taken personal loans from the company which are paid back via monthly instalment/ deduction from their salaries. What is the best way to record this so the payroll is automated once the loan amount is input and a monthly deduction can be set? Thank you

@lubos in testing the basic clearing account solution for the above situation I ran into Control Account issues/conflicts. V16.7.42

As for control accounts, I’m almost done with implementation. But the latest version still doesn’t have complete implementation. It should have tomorrow, then I’ll look in detail at this issue.

@riaraj : for an update on a solution please read the end of this topic