Creating Loans in SuccessFactors

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Creating Loans:

In this blog post you will learn about how to create Loans in detailed steps and what are all the objects that are referred and used.

Introduction: Loans are provided to employees based and eligibility and policy of the company and are recovered based on rules and number of instalments agreed. Let us see how we can set this eligibility and how employee can apply/view this in Employee Profile and Admin in Manage Data. Salary advances are similar to Loans, only changes could be recovery in single instalment instead of multiple and hence non-recurring deduction pay component can be used

Step1: Manage Employee Central Settings

Ensure that Advances is set as ON and since Loans and Advances require either one time or recurring deductions, Deductions Management also should be ON

Step2: Configure People Profile

Ensure that Advances section is enabled in People profile so that Employees can see and apply for Loan or Advances. In this example Advances subsection is available under Employment section, so ensure that Employment section view is available for ESS role in RBP

Check the box – Show this subsection on the profile


Step3: Manage Permissions

Ensure that Role Based Permissions

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