Save time and accounting resources while reducing the risk of error by using the powerful tools of NetLoan built into your existing accounting solution.
Forecasting couldn’t be easier with in-depth reporting information about payments, interest and allocation between interest and principal.
Keeps information together for the entire life cycle of the loan and includes debt covenant monitoring. Includes origination date, initial loan balance, annual percentage rate, monthly payments, loan origination fees, down payments, and balloon payments.
As a Native SuiteApp, NetLoan puts loan accounting where it should be — in your core financial system. Install NetLoan, and Netgain’s accounting processes and automation will be embedded into your NetSuite account, eliminating painful reconciliations, integrations and concerns about security and data integrity common with third-party apps.
Forecast payments, interest expense, and ending balances at any point over the loan’s life. Capture monthly payment details, allocation between interest and principal, and ending loan balance.
Integrate billing with vendors or customers, removing the disconnect between lease payments and lease journal entries, and identifying payment errors in real-time. Say goodbye to the dreaded month end lease payments reconciliation process. For borrowers, NetLoan maintains direct links to the vendor bills and loan payments. For lenders, it links to the customer invoices and payments.
See how the relationship between the principal and interest of a loan changes over time. NetLoan automatically generates journal entries that change each month to reflect correct allocation between payment and interest.
With a single loan record, you can capture both sides of an intercompany loan. Interest expense is recorded on one subsidiary and interest income on another. Entries for both are automated with a single loan record that directly ties to existing intercompany rules and properly eliminates the loan upon consolidation.
Forecast loan payments or balances for any point in time or period of time.
Capture origination fees in a separate account and amortize them over the life of the loan.
Capture a single large payment made to close out a loan.
Modify loans in progress with these options: prospectively adjust loan terms, apply loan forgiveness, and full or partial principal pay-off
Both financial and non-financial documents for each loan record are easy to access within NetSuite. Upload PDFs, image files, Microsoft Office files, and more.
Save time by performing mass actions on batches of loans. NetLoan allows you to upload new loans, generate loan schedules, perform mass commencing, run and approve monthly journals, and modify loans in bulk.
Include loan records in your NetSuite dashboards and KPIs. Crucial reporting functionality makes forecasting and auditing easy. Included with the suite of advanced reports, NetLoan creates Roll Forward reports and Waterfall reports for forecasting payments, principal, or interest.
Our click-by-click audit trail provides detailed tracking to easily create detective controls within your internal control environment. Includes time and date stamp, shows changes made and identifies the user who made them.