LOP Settings

A guide to create a Credit Loss of Pay (LOP) credit setting

Previous Month LOP Credit

The objective of this module is to Credit Loss of Pay (LOP) for the previous month, in case you deducted the same last month mistakenly.

Creating LOP Credit Setting

For creating a LOP credit setting, one has to follow the path given below.

Step 1: Follow the Path: Setting> Payroll>Salary Component>Earnings

Step 2: Click on the โ€˜+โ€™ icon to add a component.

Step 3: Create all LOP credit components (Ex- LOP Cr Basic, LOP Cr HRA, LOP Cr Special, LOP Cr LTA, and more)

Step 4: Fill in โ€˜Field Nameโ€™, and โ€˜Label Nameโ€™, and select โ€˜Behaviourโ€™ as shown in the snapshot below.

Step 5: Create component LOP Credit Days, donโ€™t select any โ€˜Behaviourโ€™ as shown in the snapshot below.

Step 6: After the creation of All components, go to โ€˜Salary Structureโ€™ and set the formula for all components.

Path: Setting> Payroll>Salary Structure

Select โ€˜Directโ€™ from the dropdown for โ€˜Direct or Percentโ€™

Step 7: Add the formula to all the LOP components as given below.

Formula- (FB/MD) *LOPCD

(Repeat the same for all other Components)

Step 8: After that follow the path below

Path: Settings > Payroll> Pay settings> LOP Days Matching

Step9: Go to LOP - Components Matching

Path: Setting>Payroll>Pay Setting> LOP - Components Matching>Select Category>Select Lop Credit Component >Save

Do the setting as shown in the snapshot below

Step 10: To Credit the LOP for the previous month, please follow the below path.

Path: Employee Account>Payroll>LOP Credit>Month>view>LOP Credit Days-Put days>Action- Add

In this way, you can credit the loss of pay of last month to the employee account in the current monthโ€™s salary.

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