Company Loans (Infotype 0045) (SAP Library

Company Loans (Infotype 0045)

Definition

You use this infotype to enter all the loan data. This infotype contains information on:

Basic data

Conditions

Payments

Use

During the payroll run, the data in the Loans infotype (0045) is used to calculate the following values:

Loan deductions

Loan interest calculation

Imputed income taxation

Structure

Loan Types

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 is possible for the system to clearly identify every loan. This makes it possible for you to create several loans of the same type for an employee.

When creating a loan, the system always proposes a sequential number. Depending on whether you create a loan of the same type for an employee or just want to change the conditions of a loan that already exists, you must either keep or change the sequential number proposed by the system:

If you want to create a new loan and create a new infotype record for this purpose, the system suggests a new sequential number that has not been used before. We recommend that you keep this number.
If you want to create a new loan and copy an existing infotype record for this purpose, the system will suggest the sequential number of the infotype record you have copied. You must change this number. We recommend that you first of all check the list of existing infotype records to see which sequential numbers have already been assigned to this employee. If you use an existing sequential number, the system cannot clearly assign payments to a loan.
If you want to change the conditions of a loan that already exists and copy an existing infotype record for this purpose, the system will suggest the sequential number of the infotype record you have copied. You must keep this number.

Tab Pages

On the Basic data tab page, enter the date of approval and the amount of the loan. The status of the loan is also displayed here. However, payments and special payments that you have entered after the last payroll run, are not taken into consideration.

On the Conditions tab page, you enter the relevant loan conditions. You also specify when repayment should begin. Regardless of this, interest payments are included in the payroll run, immediately after the loan is paid to the employee.

On the Payments tab page, you enter all the payments that are made by your company or employee with regard to the loan.

Payments

On the Payments tab page you enter outgoing payments, repayments and other payments, for example, loan charges. You can pay a maximum of the approved amount to the employee. The approved amount is occasionally paid in several partial amounts.

The approval of a loan does not automatically lead to payment. You should only allocate the loan payment on the Payments tab page.

Payments that have already been included in the payroll run are inactive and can not be changed, as you usually do not make changes to such payments. However, if you want to process a payment that has already been accounted, select it and choose . The payment is then released for processing.

Subsequent changes to payments trigger retroactive accounting in Payroll.

Payment Types

There are various payment types available for entering payments. The payment types differentiate between payments according to:

Whether it is a case of a payment to the borrower or a repayment to the employer

Whether the payment is made directly by check or bank transfer or is cleared with the employee's remuneration during the payroll run

We recommend that you use the payment types provided by SAP as far as this is possible. However, if you require your own payment types, you can set these up in Payroll Customizing under Loans ® Master Data ® Customer Payment Types.

Using Payment Types

Payment type	Use	Comment/Example
Outgoing payment to third-party	You do not want to pay out the loan to the employee, you want pay it to a third person instead.	An employee receives a building loan to build a house. You do not pay the loan to the employee, but to the contractor who builds the house.
Loan payment (payroll)	You want to pay the employee the total approved amount of the loan or part of this together with his/her pay.
Loan payment (external)	You want to pay the employee the total approved amount of the loan or part of this by check or bank transfer.
Loan remission	An employee cannot repay his/her loan or you want to release him/her from the remaining debt.	You can only close a loan in the system when the remaining loan amount has either been repaid by the borrower or remitted by the lender.
Fees	You want to demand fees from your employee for granting the loan.
Total repayment	The employee repays the total outstanding amount of the loan by check or bank transfer.
Special repayment (payroll)	The employee makes an unscheduled repayment that should be withheld from his/her pay.
Special repayment (external)	The employee makes an unscheduled repayment by check or bank transfer.
Loan balance transfer	You want to transfer company loans from a legacy system.	You can also use the payment type Loan payment (external) for transferring loans from legacy systems.

The Special Repayment (External) and Complete Repayment payment types can both be used for a direct repayment by check or bank transfer. These payment types have different types of interest calculation:

In the case of special repayment (external), the day you specify as the payment date is not taken into consideration in interest calculation.
In the case of total repayment, this day is taken into consideration in interest calculation.

If you want to enter a repayment for an employee, that leaves the company or changes company code, use the Total repayment payment type. This guarantees that interest is calculated for the loan even for the last day that the employee works in the company or is assigned to the old company code.

The employee Anne Lovelace leaves your company on April 30. She was granted a company loan. You want to enter an external repayment for this loan on April 30. If you enter the repayment as a special repayment (external) with the payment date of April 30th, no more interest is calculated for the loan for this day. If you enter the payment as a complete repayment with the payment date as April 30, interest will still accrue for this day. As Anne Lovelace is no longer an employee in your company on May 01, you can not enter the payment as a special repayment (external) with the payment date as May 01, so that interest can still be calculated for April 30.

Integration

The correct repayment of a loan is only guaranteed when there is a valid infotype record for the Loans infotype (0045). That is why Payroll is interrupted with an error message when there is no valid infotype record for an open loan. This can, for example, occur when the validity of a loan created was underestimated. You must therefore extend the validity of the loan in a case like this. When doing so, proceed as described in correct incorrect entries.

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).

Company Loans (Infotype 0045): National Features Belgium

Loans (Infotype 0045): Features for Venezuela