Skip to main content
All CollectionsPayroll
How do I perform an early partial/full recovery on an employee loan?
How do I perform an early partial/full recovery on an employee loan?

Perform an early recovery on an employee loan and readjust loan terms in case of partial recoveries.

XPayroll avatar
Written by XPayroll
Updated over a year ago

To perform an early partial recovery/full recovery for a particular month of an ongoing loan, refer the following steps

  1. All recoveries will needed to be done by your organisation externally.
    ​

  2. Incase of an early full recovery that needs to be done via XPayroll, the loan tenure can be reduced to 1 via this flow.

Step 1

Go to the left nav bar under Pay Employees > Loans

Step 2

Click on manage against the relevant loan

Step 3

Click on loan recovery on the right navigation bar

Step 4

Choose the recovery type

  1. Partial Recovery - To recover a certain amount in advance

  2. Full Recovery - To close the entire loan - amount cannot be edited in this case.

Incase of partial recovery, enter the amount and click Next

Preview your changes, verify and confirm them.

Did this answer your question?