Hi,
- For Loan Amount -- There is a separate G/L Account & it has its importance from FICO point of view....
- Now if you make entry in IT 00015 for settling loan amount or any other amount.. The output gets reflected in "Salary Payable" ......
- To get mode details check :-
PC00_M40_LJN - Payroll Journal (which demonstrates Loan amount,Gross & Payable amount etc..)
- One Component (Salary Payable ) will be more that usual due to loan amount adjustment & Other component (Loan Payable) will be less as you are not entering the amount here (As suggested by client)
- Overall amount Payable will match but Individual component may be mismatch......
- "As Loan is availed for a particular duration"......
- In order to settle it you have to enter the re installment amount again & again in different G/L account.... (Salary Payable)
- This may cause problem & mismatch during Fiscal Year...
"If Loan Re installment duration is over a period of year then you should not opt Additional Payment as a Option.. Otherwise you can go ahead (As a One time settlement) "
Regards,
Veeram