Advance Master

General Description:
Header Fields Description:
Detail Fields Description:
TOC

General Description:

Through this interface the user can register the various types of advances along with their various heads through which an employee can settle the claims.

This screen helps the employees to apply for any type of advance. Only approved advance applications are stored into the system. The Advances once approved flow to the Payroll System for further processing.

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Header Fields Description:

Advance Name Name to identify the type of advance

Description Description of the advance

Calendar Name of the calendar applicable.

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Detail Fields Description:

Advance Description Description of a particular type of advance

Effective from Date Date from which the particular advance will be effective

Effective to Date Date up to which the particular advance will be effective.

Max. Cal Limit Maximum advance amount that can be taken in a calendar year

No of Transactions Indicates the maximum number of transactions possible in a calendar year.

Eligibility Factor Eligibility factor to get the advance.1) If value is "Flat Amount" then the employee will be paid the maximum advance limit. 2) If value is "Salary" then the employee will be paid % of number of month's salary.

Flat Amount Maximum limit up to which advance can be taken.

No. Of Month's Salary (CS+FA)/(BASIC+DA) Number of months of salary. (Consolidated salary+ Fixed Allowance or Basic Salary+ Dearness Allowance)

Settlement Unit Indicates whether the advance amount will be settled all in once or in monthly basis.

No Of Installments Total No of Instalments for repaying the advance amount

Applicable to All Check Flag indicating whether the rule is applicable for all.

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