NetLoan - Accounts Receivable Process Guide
Overview
Accounts Receivable records loan transactions through invoices that require specific treatment in order for the GL and the NetLoan subledger to integrate.
Prerequisite:
1. Loan Receivable Item has been configured and linked to the Loan Payment Receivable Clearing account
2. NetLoan Loan Types and Chart of Accounts have been configured, including the Loan Payment Billing Item field
3. Invoice customization and configuration.
Loan Transactions
When Accounts Receivable records origination fees, down payments, or loan payments the transaction item must be the item as assigned on the loan type and tag the related loan to the item line.
Step By Step Process
- Navigate to your preferred invoice form
- Enter in all the desired primary information
- Enter the item as set up on the loan type on the invoice line
- Tag the loan on the invoice line
- The invoice will now be tagged to the related records subtab of the loan
- Navigate to the loan record and select on the Related Records subtab and then Other Related Transactions
- For more information on reconciliation reports of the loan-related clearing accounts per the GL and the NetLoan subledger view the Loan Receivable Clearing Reconciliation article.