Loans (Infotype 0045)

Definition

An infotype where HR master data for company loans is stored.

Use

Payroll calculates the following values using data from this infotype and the information stored in Customizing:

  • loan repayment

  • loan interest calculation

  • imputed income taxation

Structure

Loan Identification

The loan types are stored as subtypes in the Loans infotype (0045). Every loan that you create gets a sequential number. The combination of loan type and sequential number makes it possible for the system to uniquely identify every loan. This makes it possible for you to create several loans of the same type for an employee.

Note Note

The system proposes a sequential number dependent on your procedure:

  • Create a new infotype record to create a new loan. Here the system proposes the next available sequential number for the new infotype record.

  • Copy the existing infotype record to change the repayment installment for an existing loan. Here, the system proposes the sequential number of the infotype record that has been copied for the new infotype record. For more information, see Edit Loan in the "Changing the Interest Rate, Repayment Installment or Annuity Installment section".

End of the note.
Basic Data

In the Loans infotype (0045), you enter all the basic data for a company loan, for example, the approval date and amount of the loan. The system also displays the loan balance. This data must correspond in all the loan infotype records.

Note Note

However, payments and special repayments that you entered after the last payroll run are not taken into consideration in the loan balance.

End of the note.
Conditions

For each company loan, you specify which Loan Conditionsapply. You also determine the repayment installment amount and the start date of the repayments. Regardless of the repayment start date, interest payments are included in the payroll run, immediately after the loan is paid to the employee by payroll.

You can see loan condition details of the current infotype record in the overview of conditions.

Note Note

Interest occurs in every payroll period. The interest pattern determines the intervals at which the employee must pay the cumulated interest. The loan type determines whether the overview of conditions displays the interest pattern. For an installment loan, the interest and repayment pattern are displayed. In the case of an annuity loan, only the repayment pattern is displayed, since the interest is due at the same time as the repayments.

End of the note.
Loan Payments

In the Loans infotype (0045), you enter all the payments that are made by your company or employee with regard to the loan. This includes outgoing payments, repayments and other payments, for example, loan charges.

You can pay a maximum of the approved amount to the employee. You can also issue the approved amount in several partial amounts. The approval of a loan does not automatically lead to payment. You must create the loan payment explicitly.

Use different Payment Types to create payments.

Subsequent changes to payments that have already been settled trigger retroactive accounting in Payroll.

Additional Functions

The following additional functions are available:

  • If you have used the validity end date of the infotype record to determine the runtime of the loan, and have entered a payment amount, the system can calculate the repayment or annuity installment. Choose Calculate installment .

    Note Note

    The longer the validity period of the loan and the higher the interest rate, the longer the calculation of the repayment or annuity installment takes.

    End of the note.

  • If you have calculated a repayment or annuity installment, and created a payment, you can let the system calculate the validity period of the loan. Choose Calculate end date . The system displays the calculated end date as the validity end date of the infotype record.

    Note Note

    When several infotype records exist for a loan, for example, because the repayment installment has changed over time, the functions Calculate Installment and Calculate End Date are only available in the last infotype record.

    End of the note.

Integration

The correct repayment of a loan is only guaranteed when there is a valid record for the Loans infotype (0045). A payment must also be stored. That is why Payroll is interrupted with an error message when there is no corresponding infotype record for an open loan. This can occur, for example, when the validity period of a loan was underestimated. In a case like this, you must extend the validity period of the loan. For more information, see Edit Loans in the section “Correct Incorrect Entries”.

Recommendation Recommendation

You can use the End Date function to determine the correct validity end date for a loan.

End of the recommendation.

Once the employee has completely repaid the loan, a message is displayed in the payroll log. We recommend that you delimit loans that are completely repaid in the Loans infotype (0045).

See also: