This procedure is required to make adjustment to the bank account and the employee loan account if the loan amount is deposited into the bank instead of deducting from the paycheque

1. Create a new paycheque for the employee in question.
2. Set all amounts to zero in each tab.
   • This would be everything under the income, deductions, user-defined Expenses and entitlements tabs.
   • Taxes tab should read all zeros if taxes are being calculated automatically.
3. In the Cheque Number Box, put in a unique identifier (e.g. ADJLOAN 0#).
4. In the loan option for "This Period", enter a negative number for the loan amount paid back by an employee and deposited directly in the bank account.
5. The above solution will affect both the bank account (Dr.) and the loan account (Cr.)
6. Net Pay must show only the negative amount of loan entered in step 4.
7. Select Post.

Note: You will be unable to print a negative paycheque or direct deposit stub