---
title: "Managing Loans & E-Payments"
url: "https://knowledgebase.xandapay.com/en/article/managing-loans-e-payments"
language: "en"
last_updated: "2025-03-06T20:08:38.890Z"
---

# Managing Loans & E-Payments

The Loans & E-Payments module in XandaPay allows you to manage employee loans, track payments, and automate deductions through payroll. This ensures accurate loan repayment while integrating with payroll processing.

###  **Accessing the Loans & E-Payments Module**

To access the **Loans & E-Payments** module:

1.  Navigate to the **Payroll** section in the left-hand menu.
2.  Click on **Loans & E-Payments** to view all active loans.

The loan list provides an overview of all loans assigned to employees, including details such as **loan type, bank, payment history, and outstanding balance**.

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### **Adding & Editing a Loan**

To **add a new loan**:

1.  Click **"New Loan"**.
2.  Select the **Employee**.
3.  Choose the appropriate **Loan Type** (See Loan Type section below).
4.  Enter the **Loan Amount** and associated banking details:
    -   **Bank/Pay Company**
    -   **Direct Deposit Bank** (if applicable)
    -   **Account Type** (e.g., DDA, Chequing)
    -   **Transit & Final Account Numbers**
5.  Set the **Start & End Dates** for the loan.
6.  Enable **Direct Deposit** if the loan repayment should be processed through payroll.
7.  Click **Save** to finalize the loan entry.

To **edit an existing loan**, select the loan from the list and update any required details.

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### **Configuring Loan Payment Schedules**

To set up a **payment schedule** for an employee loan:

1.  Open the loan record.
2.  Navigate to the **Payment Schedule** tab.
3.  Click **"New Payment Schedule"**.
4.  Enter the **Payment Amount** and **frequency** (e.g., monthly, bi-weekly).
5.  Ensure the **Active** and **Pay?** checkboxes are selected.
6.  Click **Save** to apply the payment schedule.

Once configured, payroll processing will deduct the scheduled amounts automatically.

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### **Reviewing Loan Payment History**

To track loan repayments:

1.  Open the loan record.
2.  Navigate to the **Payment History** tab.
3.  View past payments, including:
    -   **Payment ID**
    -   **Loan Account**
    -   **Amount Paid**
    -   **Old & New Balance**
    -   **Payment Date**
4.  If necessary, a payment can be **voided** by selecting the **Void** checkbox.

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### **Loan Types**

XandaPay supports different **Loan Types** to categorize employee loans:

| Loan Type | Description |
| --- | --- |
| **BANK** | External Loans (Total Known) |
| **BLIND** | External Loans (Total Unknown) |
| **CTRFA** | Thrift Target A/C - Company |
| **ETRFA** | Thrift Target A/C - Employee |
| **STAFF** | Internal Loans |

Selecting the correct loan type ensures proper classification and repayment tracking.

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### **Best Practices**

-   **Ensure direct deposit details are accurate** to avoid payroll processing issues.
-   **Use the payment schedule feature** to automate loan deductions and reduce manual adjustments.
-   **Regularly review payment history** to track employee repayments and detect any discrepancies.
-   **Assign the correct loan type** to differentiate between staff, thrift, and external loans.
-   **Void incorrect payments immediately** to prevent accounting inconsistencies.

This structured approach helps manage employee loans efficiently while ensuring payroll deductions are processed accurately.