SSS Salary Loan Payment Posting

This article is a continuation of my previous topic about SSS Contribution Posting.

The due date for both Contribution and Salary Loan payment is on or before 10th of the month. So it is advisable to pay both Contribution and Salary Loan payment at the same time.

The requirement of SSS Salary Loan Payment Posting is pretty much the same with the SSS Contribution Posting. We need to generate and submit a printout generated by the software and its electronic file. But the software use for SSS Salary Loan Payment Posting is different. Below are much detailed list of the things needed in generating SSS Salary Loan Payment Posting requirements.

Requirements:
1. LMS Software from SSS. This software can be downloaded in SSS website official site.
a. “LMS File Generator” https://www.sss.gov.ph/sss/index2.jsp?secid=1&cat=101&pg=null
b. Follow the requirements of the software indicated in the site.

2. After all the installation is done, you need to enter all the details needed into the software. Like Employer’s Name, SSS Employer #, Employer’s Address and Telephone Number.
a. File Maintenance > Employers File Update

3. It is also needed to enter all the required details of the employees that have SSS Salary Loan enrolled in your company. This are also the same employee that are automatically deducted its salary to pay for the SSS Loan. “Salary Loan”
a. File Maintenance > File Update
b. Either Add, Update, Delete or Find can be done in updating the employees details.

4. After all the details already entered into the SSS Salary Loan Software “LMS File Generator”. You need to generate 2 report printout documents.
a. Employee File
b. Transmittal List
Note: These reports can be found in Report Generation. Print 2 copies each. (First Set) SSS (Payor’s Copy) Receipt, 1 Employee File and 1 Transmittal List. (Second Set) SSS Receipt (SSS Copy), 1 Employee File and 1 Transmittal List.

5. After all the printout documents are all set, you need to Generate LMS Diskette. All required information must be enter like SBR Number, SBR/TR Date(mmddyyyy), SBR/TR amount, Reconciling amount.

6. Save and copy the generated txt file produce by the LMS software in your USB flash disk that you commonly use in submitting electronic file to SSS branch. Please make sure that the file name produce by the LMS software txt file is the same filename indicated in the Transmittal List documents. If not, don’t panic, you just need to rename the filename to be exactly the same filename shown in the Transmittal List documents.

7. Bring all the printout documents and the electronic txt file produced saves in your USB flash disk to SSS Branch near your area. And make sure they accept the printout by stamping a RECEIVED mark in your receiving copy and they input into their system the electronic txt file from your USB flash disk.

Submitting the SSS Loan Payment Posting is mandatory and required. This is for the benefits of all the employees so that their Loan Payment is always updated.