Granting an Employee Loan

Revised on September 4, 2026

TTPay can track employee loans and automatically deduct repayments from payroll each cycle.

Where to find it: Payroll > Employee Loans > Loans

Steps

  1. Select the employee by entering their Employee Ref.
  2. Leave Loan Ref as it is — it’s an automatic sequence number.
  3. Enter the Lending Date and Time Period of the loan (see Terms below for the formats).
  4. Enter a clear, meaningful description of the loan — this text will appear on the Loan Ledger Report.
  5. Review the repayment schedule TTPay generates.
  6. Click Save once everything looks correct.

Terms

  • Employee Ref — the code identifying which employee the loan is for.
  • Loan Ref — an automatic sequence number used to track the loan; no need to change it.
  • Lending Date — the date the loan was given, in DDMMYYYY format.
  • Time Period — the term of the loan, in YYYYMMW format (year, month, week).
  • Loan details/description — a plain-language note about the loan, shown on the Loan Ledger Report.

Good to know

TTPay automatically consolidates multiple loans for the same employee, works out a payback schedule, and deducts payments from their paycheck each cycle — you don’t need to set up a separate deduction manually.