Applying a Student Loan to an Employee in FreePayroll
Applying a student loan or a postgraduate loan to an employee in FreePayroll is a straightforward process. Follow these steps to ensure the changes are implemented correctly:
People Section: Navigate to the 'People' section of FreePayroll.
Employee record: Click on the three dots next to the employee’s name and select 'Edit' to open the employee record.
Locate Student Loans Tab: In the employee record, the 'Student Loans' tab is not immediately visible as it is the last tab. Click on the arrow to expand and show more tabs.
Select Student Loans: Once you are in the 'Student Loans' section, you will see all available student and postgraduate loans.
Activate Loans: Switch on the loans you wish to apply to the employee.
Save Changes: Click 'Save' to apply the changes.
- Once you return to your current payroll, if the employee meets the criteria for student loan deductions, you will see the deduction applied.
- Immediate Effect: Note that changes take effect immediately. Apply the student loan only if you want it to reflect in the current payroll cycle.
Ensure you only activate the student loan settings when you intend for them to take effect right away, as this could impact the payroll deductions immediately.
If no deductions are visible in the payroll despite applying a student loan:
- Earnings Threshold: Ensure the employee's earnings are above the threshold for their specific loan plan type.
**Navigating to the Employee Record**
People Section: Navigate to the 'People' section of FreePayroll.
Employee record: Click on the three dots next to the employee’s name and select 'Edit' to open the employee record.
**Accessing Student Loans**
Locate Student Loans Tab: In the employee record, the 'Student Loans' tab is not immediately visible as it is the last tab. Click on the arrow to expand and show more tabs.
Select Student Loans: Once you are in the 'Student Loans' section, you will see all available student and postgraduate loans.
Activate Loans: Switch on the loans you wish to apply to the employee.
Save Changes: Click 'Save' to apply the changes.
**Effect on Payroll**
- Once you return to your current payroll, if the employee meets the criteria for student loan deductions, you will see the deduction applied.
- Immediate Effect: Note that changes take effect immediately. Apply the student loan only if you want it to reflect in the current payroll cycle.
**Important Consideration**
Ensure you only activate the student loan settings when you intend for them to take effect right away, as this could impact the payroll deductions immediately.
**Troubleshooting: No Deductions Showing**
If no deductions are visible in the payroll despite applying a student loan:
- Earnings Threshold: Ensure the employee's earnings are above the threshold for their specific loan plan type.
Updated on: 27/04/2024
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