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    Odoo Employee Loan Management System

    Loan processing with Odoo Employee Loan Management System!



    • The Odoo app allows you to create various loan types.

    • It adds an entire menu to manage employee loans.

    • Employees can request multiple loan types within the same tenure.

    • HR or admin can update the loan status according to the request acceptance.

    • Add loan deduction in the employee payslip.

    • Disburse the loan and settle it once EMIs are paid.

    • HR/admin can regenerate the canceled EMIs.

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    Assist employees with the Odoo Employee Loan Management System!

    Granting perks and additional benefits to employees always helps in their retention. According to data mentioned by my Shortlister, 9 out of 10 workers expect financial support from their employers. 43% of workers are interested in salary-linked employee loans. And 63% want employers to provide emergency saving accounts.

    Odoo Employee Loan Management System helps you to allot and recover loans to and from employees. You can view all running, settled, disbursed, cancel EMIs, regenerate EMIs, and more. The admin/HR can also accept or reject loans.

    Additionally, the dashboard helps you know all the available loan types and confirmed, approved, rejected, disbursed, and done loans in each of them. The employee payslip generated after taking a loan contains the loan deduction.

    Odoo Employee Loan Management System

     Odoo Employee Loan Management System Features

    Loan Type Creation in Odoo

    • The Odoo app permits the creation of loan types by entering some basic details, along with terms & conditions.
    • You can view all existing loan types on the dashboard and every request type.
    • Added criteria for loan amount based on employee experience

     Employee’s Loan Approval

    • Junior HR can verify and confirm the employee loan request.
    • Once confirmed, it's up to the senior HR to approve or reject the loan request.

    Loan Disbursement in Odoo

    • The senior HR can specify the amount, tenure, and EMI start date for the loan.
    • After disbursement, the system will automatically generate all the EMIs.
    • Additionally, loan details are generated on loan disbursement.

     EMI Stages in Odoo

    • EMI has four stages- new, in payment, paid, and canceled.
    • All the canceled EMI will be carried forward on regenerating the EMI.
    • EMIs remain ‘in payment’ stage and change to ‘paid’ once deducted from the salary.

    Employee Loan Requests

    • Employees can request a loan from the company by selecting the loan type, amount, tenure, and description.

     Loan Settlement in Odoo

    • After every EMI deduction from salary, the senior HR/admin can settle the loan.

    Creating Loan Request in Odoo

    • The module adds a loan menu in the Odoo backend.
    • Loan dashboard contains the loan types listing.
    • Employees can select the loan type while creating the request.
    • They can also reduce the loan amount and duration according to their need.
    • Employees need to specify the reason in the description section.
    • The system automatically shows their name, designation, and department on loan creation.
    • Also, it will show the terms and conditions according to the selected loan type.
    • The loan first needs to be confirmed and then approved.
    Creating Loan Request

     Loan Disbursement in Odoo

    Loan Disbursement in Odoo
    • After approval, HR can disburse the employee loan.
    • HR can update the amount and tenure if requested by the employee.
    • Once disbursed, the EMI amount and installation will be added to the loan request.
    • Employees and HR can check Loan details in Odoo.
    • EMI can be canceled and regenerated accordingly on employee request.
    • EMIs will be deduced from employee salary in the listed tenure.
    • They can apply for several types of loans in the same tenure.

    Odoo Employee Loan Management System

    Webkul's dedicated support provides you with the customizations and troubleshooting solutions for Odoo Employee Loan Management System.

    For any query or issue please CREATE A TICKET HERE

    Specifications

    Product Version1.0.1
    Released5 years ago
    CategoryOdoo AppsTool
    Last UpdatedDecember 18, 2023 (2 months ago)
    Supported VersionsOdoo  11.x  12.x  13.x  14.x  15.x  16.x  17.x  
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