NetLoan - Summary Fields
NetLoan Summary Fields
Use Case: The NetLoan Summary Fields allow users to pull various loan balances and payment information fields as of any date in the loan’s life.
Step by Step Process:
1. The following fields are listed on the Management subtab on every loan record:
As of Date: The date driving the calculation of loan balances and cumulative totals.
As of Loan Balance: The loan balance on the as of date.
As of Accumulated Accrued Interest Balance: The accumulated accrued interest on the as of date.
Overdue Payment Amount: The total overdue payment amount on the as of date.
Days Past Due: The maximum days past due of all overdue bills on the as of date.
Total Principal Paid to Date: The total principal paid to date on the as of date.
Total Interest Paid to Date: The total interest paid to date on the as of date.
Total Overpayments to Date: The total amount of any overpayments (principal adjustment payments made in excess of the normal recurring payment) as of the as of date.
Total Fees Charged: The total fees charged to the client on or before the as of date.
Total Refunded: The total refunded loan amount on or before the as of date.
Payment Status: The collection status of the loan based on the payments.
Remaining Payment: The current sum of the remaining payments to be made on the loan.
Earliest Open Bill Date: The oldest bill/invoice that has an amount due as of the As of Date.
Last Payment Date: The date of the last posted payment.
Next Payment Date: The earliest invoice/bill transaction date not fully paid after the As of Date.
Remaining Interest: The remaining interest on the as of date.
Payoff Amount: The sum of the loan balance, Accrued Interest, and total overdue payments and fees, all as of the As of Date.
Total Overdue Fees: The amount of fee items on overdue invoices as of the As of Date.
Total Interest Overdue: The amount of interest on overdue invoices as of the As of Date.
Total Principal Overdue: The amount of principal on overdue invoices as of the As of Date.
Total Payments Paid: Total payments made on or before the As of Date.
Valuation Rate: User provided valuation rate driving XNPV calculation.
XNPV: The XNPV of future payments given the valuation rate provided.
Total Outstanding Amount: Total invoiced amount on or before the As of Date.
The calculation of all of the fields above depends on the As of Date entered. The method used to update this field depends on two global settings related to the NetLoan Summary Field functionality. These global settings can be found by navigating to NetLoan > NetLoan Setup > System Setup under System Settings:
As of Date Reporting: Allow UI Update: Check this box to allow saving of Loan Summary fields if user edits the “As of Date” field on Loan Records in the User Interface. If this box is unchecked, the loan summary values will be reset upon saving the loan.
As of Date Reporting: Auto Update on Billing & Payment: Check this box to automatically update the “As of Date” field on loans when Bills/Invoices are created or paid.
Based on the settings chosen above, users have the following options in changing the As of Date:
Change the As of Date by clicking Edit on the loan record and manually changing the date in the User Interface. This is only an option if the As of Date Reporting: Allow UI Update box is checked in the NetLoan System Setup.
Change the As of Date with a csv upload. All that is needed for this is a csv file with the Internal ID of all loans needing to be updated and the new As of Date desired.
Automatically update the As of Date on billing and payment by checking the box in the system settings.