One of the many perks of paying monthly statutory contributions to the government (the monthly and seemingly pesky SSS, Pag-Ibig, and Philhealth contributions) is the ability to request a loan from any of these institutions should the need arise. On Sprout HR, we have a way of helping employers keep track of the loans an employee makes, along with all the pertinent details that come with it. It may be a lesser-known and discussed feature, but if you know how to use it, it's actually quite nifty -- pretty much like everything we have on Sprout!
Ever wonder where you can keep track of all the loans an employee makes? Let's take a closer look at the Advances tab on the Employee Profile!
If you click on it, here is what you will see initially:
Now to add entries here, simply click the Add Transaction button. Once done, a new row will appear where you will be able to encode the employee's loan.
The Loan Type will be based on the types you have added. For more details on how to add or delete loan types, you may take a look at our article here: How to Add and Delete Loan Types on Sprout HR
Once the details have been filled out, you may click the Save button at the bottom of the page to keep these changes.
For any further inquiries, you may have regarding this feature, feel free to message us at experts@sprout.ph. We look forward to hearing from you.
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