Flexible workforce
Staff loans that reconcile themselves
Yes. Define loan types with limits and approval rules, issue a loan under interest-free, flat or reducing-balance interest, and PayrollMaster generates the amortization schedule, deducts each installment on the payroll run, and tracks the outstanding balance to zero.
30-day free trial. No credit card.
What you get
Can employees take loans and advances through PayrollMaster?
Employee loans and advances stop living in a side spreadsheet. Issue them, and repayments are deducted on the payroll run and tracked to zero automatically.
- A loan-types catalog with maximum amount, term and approval requirements
- Three interest methods — interest-free, flat, or reducing balance
- Auto-generated amortization schedules with a principal/interest split per installment
- An approval workflow, repayment recording and outstanding-balance tracking
- Automatic deduction on the payroll run
More in Flexible workforce
Explore the rest of flexible workforce
Start free and see loans & advances on your own payroll
Import your employee list, run one real month, and put loans & advances to work against your actual numbers before you switch anything.
30-day free trial. No credit card.