Odoo Employee Loan Management System

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.

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.

 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.