You enter the loan as a payment when you issue the money. When repayments begin, you set up a deduction that reduces automatically until the balance reaches zero.

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Set up a loan payment

1. Open Company/Payroll, then select Payments.
2. Select New, then enter your loan details:
   • Title: enter a name
   • Type: choose Variable amount each pay period
   • Tax: clear the box
   • Universal social charge: clear the box
   • Include in pension calculation: clear the box
   • PRSI: choose Do not apply PRSI
   • Apply pension related deduction: clear the box
   • Factor: enter 1.0000
   • Multiply by the number of holiday periods: clear the box
   • EHECS type: choose Irregular pay
   • Formula: ignore this field
3. Select Save, then select Close.

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Process the loan payment

1. Open Processing, then select Time and pay.
2. Select your entry mode, then select Continue.
3. Select the employee.
4. Select the Data entry tab.
5. Locate the loan payment and enter the value in the Hrs/Val column.
6. Enter any other pay details you need.
7. Select Save, then select Cancel.

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Set up a loan repayment deduction

1. Open Company/Payroll, then select Deductions.
2. Select New, then enter your deduction details:
   • Title: enter a name
   • Type: choose Nett 
   • Sub‑type: choose Standard
   • Multiply by the number of holiday periods: clear the box
   • Balance type: choose Reducing balance
   • Deduction factor: leave as 0.00
3. Select Save, then select Close.

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Assign the repayment deduction to the employee

1. Open Processing, then select Employee details.
2. Select the employee.
3. Open the Deductions tab.
4. Locate the loan repayment deduction and enter:
   • Std e’e amt: the repayment amount for each pay period
   • Balance e’e: the total amount of the loan
5. Select Save, then select Cancel.