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Wola for finance

Know where every staff loan shilling is

Money goes out, comes back through payroll, and sometimes does not. Wola shows finance each of the three, and puts the gaps in front of the person who can chase them.

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  • 30 days free
  • No card needed
  • Works alongside your payroll

What finance see first

“Where is the money: going out, coming back, and at risk?”

Pay out approved loans

Approving a loan and paying it are different steps, done by different people.

  • A payout queue lists approved loans waiting for the money to be released.
  • Releasing the money is its own recorded step, separate from the approvals.
  • Every loan has a repayment schedule, and the borrower has accepted the exact terms before it starts.

Tell payroll what to deduct

Wola works alongside the payroll you already run. It does not replace it.

  • Each cycle, a CSV of the deductions payroll should make, person by person, ready to hand over.
  • Early repayments and extra payments are recorded against the loan, and the balance follows.
  • When someone has left, that month's file asks for the whole balance.

Check what payroll actually did

Most of the money lost in a staff loan scheme is lost quietly, one missed deduction at a time.

  • Bring the actual deductions back in as a file. Every missed or short instalment is listed by loan and by person.
  • You are warned once a month if payday passes and no deductions have been recorded at all.
  • Collections are shown against what fell due, with a plain sentence saying what the chart shows.

See the book

  • What is outstanding, what is behind, and which loans need a person.
  • Insights written as sentences: what stands out this month.
  • Disbursements, repayments and balances in one ledger that cannot be edited, only corrected by a new entry.

Reports you can hand over

  • Portfolio and interest reports.
  • CSV exports for your own spreadsheets, and pages that print cleanly for the board or the auditor.
  • An auditor role that can read everything and change nothing.

Limits that protect the scheme and the borrower

  • Borrowing limits for each product, as a multiple of salary or a share of take-home pay that counts what is already committed.
  • One cap on all loan deductions together as a share of take-home pay. It is off until you set it.
  • The true cost is shown to the borrower before they say yes: the monthly deduction, the rate, the total interest and the total to repay.

Keep reading

See Wola with your own people in it

Start a free trial in minutes with a sample company, or bring your own staff list. Your team can try every role before anything real is loaded.

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