WragbyWbizManager

Record loan repayments

See how staff loans are repaid through payroll, record a repayment made outside payroll, and settle a loan early.

For hr and finance administratorsUpdated 4 Nov 2026

Before you start

  • Set up loansThe loan type sets the interest rate and the number of months, which decide the monthly instalment.
  • Disburse a loanRepayments start only once the loan is recorded as paid out.
In this article
  1. Repayments through payroll
  2. Record a repayment made outside payroll
  3. Settle a loan early
  4. What the employee sees
  5. If something goes wrong

Once a loan is disbursed, the employee repays it in equal monthly instalments:

  • Total to repay = approved amount + interest (the interest rate is charged once over the whole loan).
  • Monthly instalment = total to repay ÷ number of months.

For example, 300,000 at 5% over 12 months: 315,000 to repay, 26,250 a month.

Repayments through payroll

Each payroll run takes the monthly instalment from the pay of every employee with a disbursed loan, starting with the month of the disbursement date. In the last month it takes only what is left. When the balance reaches zero the loan becomes Fully paid. Nothing needs doing on the loan screens.

Payroll deductions don't appear one by one in the loan's repayment history. The loan's Remaining balance and Total repaid always include them.

Record a repayment made outside payroll

Use this when an employee pays some of the loan back directly, for example by bank transfer.

  1. Open the loan

    In the menu on the left, select HR, then Loan, then Applications. Find the loan (filter All Statuses to Disbursed) and select View. The page is called Loan application detail.

    1. Pay off early: settles the whole balance in one go (see below).
    2. The loan's progress: Apply for Loan, HR Approval, MD Approval, Offer Response, Disbursement, Repayment.
    3. Repayment overview: Remaining balance and Total repaid.
    4. Disbursement: the date, payment reference and method recorded when it was paid out.

  2. Record the repayment

    Scroll down to Repayment schedule & history and select Record repayment.

    1. The reminder that payroll deductions aren't listed one by one.
    2. Total loan, Total repaid, Remaining balance and Monthly payment.
    3. Repayment date: the day you received the money. Not more than two months from today.
    4. Amount paid: up to the remaining balance.
    5. Submit repayment.
    6. Cancel closes the form without saving.

    Select Submit repayment. You'll see Loan repayment of … recorded successfully. Balance: …. The repayment appears in the history below, split into principal and interest.

Settle a loan early

On the loan's page, select Pay off early and confirm Pay off full balance of …?. WbizManager records a repayment of the whole remaining balance with today's date, and the loan becomes Fully paid. You'll see Loan fully repaid. Payroll stops deducting from the next run.

What the employee sees

In My loans the employee sees the Outstanding balance and how much is repaid. When it reaches zero the loan shows Fully paid. See Accept a loan offer.

If something goes wrong

MessageWhat to do
Please select a valid repayment dateChoose a date.
Repayment date cannot be more than 2 months from todayUse a date closer to today.
Repayment date cannot be after the loan expiry date (…)Use a date on or before the loan's last instalment date, or today's date if the loan is already overdue.
Please enter a valid repayment amountEnter an amount above 0.
Repayment can't exceed the outstanding balance of …Enter the remaining balance or less.
Cannot record payment for unapproved loanThe loan isn't disbursed yet, or it's already fully paid.