401 K Loan Interest

[Former Member]

Dear Gurus,

We have maintained 401k loan Deduction in IT0014 and balance in IT0015 for an employee.

which are processed by UDP0 sub schema.

i wonder where and how are we going to capture Interest amount.

please provide your valuable inputs

Thank you,

Ramya

[former_member193210]

Using IT0045 (Loans) might have made things a little easier, but you should be able to capture Interest Amounts through a distinct WT on IT0015.

[Former Member]

Hi Remi,

Thanks for your valuable inputs.

whats the process most companies follow in case 401 k Loans in SAP.

Thank you,

Ramya

[former_member193210]

I'm not familiar with US Legislation or Payroll for the US.

For the first one, I suggest that you search the web, but the following site seems reputable and may provide you with the answers you require (Retirement Plans FAQs regarding Loans).

As for configuration in SAP for Payroll USA, I suggest that you look at the related Wiki page on this site, or at the related page on help.sap.com