Video 07 · 2 min
Loans & annual returns
Staff loans and salary advances repaid through payroll, and year-end PAYE and pension returns without the spreadsheet marathon.
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TranscriptEverything the narrator says, with times
QadraHR. Loans & annual returns. Staff loans and salary advances repaid through payroll, and year-end PAYE and pension returns without the spreadsheet marathon.
Many Nigerian employers lend to staff, and tracking repayments in a spreadsheet is where money quietly goes missing. In QadraHR, loans live under Payroll, and every repayment is a payroll deduction.
Ibrahim, a fleet supervisor in Abuja, needs help with school fees. Click New loan, choose him, and enter the amount: six hundred thousand naira over six months, starting with November's payroll.
Lagoon charges a modest five percent a year on a reducing balance. Add the purpose, and save. The loan goes through approval, exactly like one an employee applies for from their phone.
Once approved, each month's instalment is deducted in payroll, the balance updates itself, and an early settlement can be recorded at any time. No side ledgers, no surprises at year end.
At year end, Annual returns gathers every employee's PAYE and pension, month by month, from locked and paid runs only, so the figures match what was actually paid.
Download produces the file for your state tax office and pension returns in one go. What used to take a week of reconciliation takes a minute.
That's Loans & annual returns in QadraHR. Loans and advances approved, then deducted automatically. Interest-free, flat or reducing-balance schedules. Annual PAYE and pension returns from locked runs. One download for your tax and pension filings.
What you'll learn
- Loans and advances approved, then deducted automatically
- Interest-free, flat or reducing-balance schedules
- Annual PAYE and pension returns from locked runs
- One download for your tax and pension filings
