Understanding Loans in Brazil
It is a common practice for Brazilian companies to grant personal loans or pay for assets and services on behalf of their employees. Loan functionality for Brazil enables you to maintain these loans, create payback schedules and modify the deduction of such values previously loaned to employees. You can adjust the loan by any rate and change the value of the deduction. On termination, the outstanding balance must be deducted. The loan may be deducted from normal payroll, vacation, 13th salary or termination.
Note: Loan payments in Brazil are via a fixed amount only. This amount may change month-by-month depending on the life cost factor. The life cost factor can be handled by Global Payroll rules with a variable to indicate the percentage to apply for each loan payment.
The PeopleSoft system delivers a query that you can run to view the names of all delivered elements designed for Brazil. Instructions for running the query are provided in the Understanding How to View Delivered Elements topic.