NetLoan - System Setup: General

Overview

As part of the initial setup, a user must navigate and set the global accounting preferences. This article focuses on the setting found on the "General" tab.

Prerequisite: You must have previously installed the NetLoan bundle into your NetSuite account.

Navigation

Navigate to the NetLoan System Setup page. NetLoan > NetLoan Setup > System Setup
Make sure you are viewing the "General" tab.

GENERAL SETTINGS OPTIONS

Go-Live Selections

Field Name

Required

Description

Example

Go-Live Date

Yes

The go-live date on which loans will be commenced and accounts will be impacted. This shoudl align with the cutover date.
Note, NetLoan will not record any journal entries to the GL prior to the date indicated in this field.

Jan 1, 2024

Module Use

Yes

Indicate the role that will be played in the loan transactions (Borrowing, Lending, Intercompany).

Borrowing: You are acting as the borrower and record payables for the assets provided by the lender.
Lending: You are the lender and record receivables for the assets provided to the borrower. You service and own the full loan.
Servicer: You act as the loan servicer but do not have ownership over the full receivable and don't hold the full receivable on your balance sheet.
Borrowing, Lending, & Intercompany: when intercompany loans are used or if the borrowing AND lending modules are required.

Borrowing

Loan Calculations Settings

Field Name	Required	Description	Example
Default Loan Schedule Type	Yes	Select the schedule type that determines amortization schedule behavior and precision: Fixed Installment - Simple: Uses an IRR calculation method which assumes an evenly distributed flow of payments. Fixed Installment - Precision: Fixed application of payments made to interest and principal balances on the payment due date (not payment receipt date). The schedule is fully generated upfront. Uses an XIRR calculation method which incorporates the specific dates that payments were made within the month. Dynamic Installment: Dynamic appication of payments made to interest and principal balances on the date payments are acutally made. The schedule is fully generated upfront. Uses an XIRR calculation method which incorporates the specific dates that payments were made within the month.	Precision
Default Calculation Timing	Yes	Specify when the system should recalculate schedule information values on the loan record when dependent values are changed. On Field Change: The system will recalculate dependent values when a field value is changed. On Save: The system will recalculate dependent values when the loan record is saved. Never: The system will never recalculate dependent values.	On Field Change
Schedule Period Numbering Precision	Yes	Specify the number of decimal places to go out to when numbering schedule line activity within the same period (e.g. 3.1, 3.2 vs. 3.01, 3.02). 1 decimal place precision is normally all that is needed, however, if you anticipate more than 9 unique paynments, rates, and modifications within a single calendar period, 2 decimal place precision may be necessary.	2
Precision APR	No	Check this box to increase the precision of the APR field in the system from 4 decimal places to 8 decimal places.	✓
Default Loan Payment Day	Yes	Indicate the default day of the month that payments are due.	31st
Default Loan Payment Time of Day	Yes	Indicate whether interest for the day of the payment is included or excluded in the payment. Beginning of Day: Excludes payment day interest from payment. End of Day: Includes payment day interest in payment.	End of Day
Default Loan Term Unit	Yes	Indicate the unit used to calculate the loan term. Active Accounting Periods: Counts the number of full and partial NetSuite accounting periods that the loan spans (usually set up as calendar months). Months (from Origination Date): Counts the number of full and partial months between origination date and maturity date. Payments (From Initial Payment Date): Counts the number of recurring payments between the initial payment date and the maturity date. (e.g. Loan Term of 12 = 12 recurring payments starting from the initial payment date when entering payments.)	Active Accounting Periods
Generate Schedule On Loan Creation	No	Indicate whether to automatically generate the loan schedule upon saving of a new loan record in the user interface (will not run on CSV import).	✓
Regenerate Schedule On Loan Save	No	Indicate whether to automatically regenerate the loan schedule on save of loan record when schedule impacting changes are entered into a pending loan records in the user interface (will not run on CSV import).	✓
Default Origination Fees Amortization Method	Yes	Indicate the method used to calculate amortization of loan origination fees, discounts, and premiums. Straight Line: evenly amortizes the fees/discount/premium over the life of the loan. Effective Interest : Loan Principal: Each period, the fee/discount/premium is amortized by calculating the difference in interest between using the effective interest rate and the interest rate as applied on the loan balance. Effective Interest : Loan Principal - Fee/Discount/Premium: Each period, the fees/discount/premium is amortized by calculating the difference in interest between using the effect interest rate as applied to the sum of loan balance, fees, and discount/premium and the interest rate as applied on the loan balance. Effective Interest : Loan Principal (Variable Rate): This setting operates the same as the "Effective Interest : Loan Principal" setting but accounts for changing interest rates. Effective Interest : Loan Principal - Fee/Discount/Premium (Variable Rate): This setting operates the same as the "Effective Interest : Loan Principal - Fee/Discount/Premium" setting but accounts for changing interest rates. Sum of Digits: Utilizes the Rule of 78 amortization methodology when amortizing fees/discount/premiums each period.	Straight Line

Modification Settings

Field Name	Required	Description	Example
Allow Auto-Generation Of Bill From New Payments	No	Check this box to display the "Automatically Generate Bill" option on the Loan Modification Suitelet and Loan Modification Proposal record.	✓
Require Vendor Preapproval on Disbursement	No	If checked, vendors must be preapproved before they can be selected for draw modifications with disbursements.	✓

Transaction Settings

Field Name	Required	Description	Example
Default Loan Billing Day	Yes	Indicate the default day of the month on which to post vendor bills and invoices. This would be the date the bill/invoice is created. The due date will depend on the terms that are applied to the billing date.	31st
Monthly Journal Filtering Preference	No	Specify whether to provide an Accounting Period filter when running monthly NetLoan journals (recommended) or Start/End Date filters (for very specific use cases). We generally advise to run journals for the accounting peirod at period-end.	Filter by period
Allow Closed Period Selection	No	Check this box to enable the selection of closed period for processing on the monthly journal and time machine pages.	✓
Allow Summarized Journals	No	Indicate whether users should be allowed to post amortization entries summarized by subsidiary instead of by loan. Contact support@netgain.tech to get this feature enabled.	✓
Auto Eliminate Intercompany Transactions	No	Indicate whether intercompany loans should generate an auto-eliminating intercompany journal or separate NetLoan transactions for the borrowing and lending subsidiaries. Note, the auto-eliminating intercompany journals can be eliminated via standard NetSuite month-end processes, where as the separate journals will need to be eliminated manually.	✓
Auto Approve Transactions	Yes	Indicate the loan transactions to be automatically approved upon generation by the NetLoan module. Our recommendation is to approve all as the entries that are system-generated. Many journal entries are created on a loan-by-loan basis, which may require a more extensive approval process. Hold down the Ctrl button to select multiple entries.	NetLoan Amortization Entry
Reclass Transaction Form	No	Specify the default transaction form that should be used when displaying NetLoan generated reclass journals.	- Preferred Form -
Vendor Bill Transaction Form	No	Specify the default transaction form that should be used when displaying NetLoan generated vendor bills.	- Preferred Form -
Invoice Transaction Form	No	Specify the default transaction form that should be used when displaying NetLoan generated customer invoices.	- Preferred Form -
Loan Bill Document Number Override	No	This field allows users to override the Bill Document Number for invoices and bills generated by NetLoan. The document number on invoices is captured in the "Invoice #" field, and the "Reference No." for bills. See this article for instructions on how to set up this feature.	{name} - {period_end_date}

Transfer Settings

Field Name	Required	Description	Example
Book Transfer Journal on Department Change	No	Require the automated creation of a NetLoan Transfer Entry to re-establish the loan account balances with the updated department in order to change the department on a loan.	✓
Book Transfer Journal on Class Change	No	Require the automated creation of a NetLoan Transfer Entry to re-establish the loan account balances with the updated class in order to change the class on a loan.	✓
Book Transfer Journal on Location Change	No	Require the automated creation of a NetLoan Transfer Entry to re-establish the loan account balances with the updated location in order to change the location on a loan.	✓
Book Transfer Journal on Segment Change	No	Require the automated creation of a NetLoan Transfer Entry to re-establish the loan account balances with the updated custom segment in order to change the segment on a loan.	✓

As Of Date Settings

As Of Date reporting is primarily used by lenders allowing them to track real-time balances for their borrowers.

Field Name	Required	Description	Example
As Of Date Reporting: Allow UI Update	No	Check this box to allow saving of As Of Date fields if the user edits the "As Of Date" field on Loan Records in the directly in the User Interface. If this box is unchecked, the As of Date values will be reset upon saving the Loan.	✓
As Of Date Reporting: Auto Update	No	Check this box to automatically update the "As Of Date" field on loans when Bills/Invoices are created or paid, credit memos are created, transactions are synced, loans are modified, or month-end interest is calculated.	✓
As Of Date Reporting: Include XNPV in Loan Summary Updates	No	If checked, XNPV will be included in loan summary updates for as-of-date reporting.	✓

System Settings

Field Name	Required	Description	Example
Allow Concurrent Processing	No	Check this box to allow the same map/reduce script to be initiated while another invocation of the job is still running. WARNING: This can produce duplicate results.	✓
Automatically Filter Sublists	No	Automatically apply filters entered on loan selection pages (recommended unless volume is very high).	✓
Disable Asynchronous Mark All	No	When enabled, the "Mark All" button on suitelet pages will run synchronously (Run Journals page, etc.). This setting is useful for users who have a long wait time to load the page, and the submission of a job stalls out due to the time to run the search.	✓
Halt Automated Jobs	No	Check this box to halt all scheduled automated jobs on the "NetLoan - Automated Jobs" map/reduce script. This should be done if a data fix needs to be made to the environment.	✓
Hide Side Navigation	No	Check the box to hide the NetLoan sidebar navigator that appears when viewing NetLoan records.	✓
Default Script Concurrency Limit	No	Specify the maximum number of processors to use when running NetLoan map/reduce scripts. This can be specified on an individual script basis.	- None -
Default Script Priority	No	Specify the priority when running map/reduce scripts. High: Use to mark critical scripts that require more immediate processing. These jobs go to the processing pool first. Standard: This is the default setting. It is considered to be a medium priority level. These jobs go to the processing pool after all high-priority jobs.	Standard

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