NetLoan 2025.1

Billing

  • Added a new field to the NetLoan Payment Type record, "Billing Date Preference" that allows users to specify whether the payment should use the "Schedule Line Payment Date" (i.e. the date the payment is incurred on the schedule) or the "Loan Billing Date" (i.e. references the Billing Day field on the Loan). 
  • Improved auto-billing error handling to:
    • Create banner message on loan record and payment record when payment auto-billing error happens
    • If timeout errors occur (“The host you are trying to connect to has exceeded the maximum allowed response time.”) the invoice will still get tagged to the schedule

Loan Calculation

  • Added new payment frequency, 30 days, allowing users to space payments out 30 days apart from each other.
    • By default the date filters are appled to the G/L Activity search, but not the Amortization Schedule search.
  • Added new payment type, "Percentage of Principal", which allows users to specify a percentage of the loan's principal to be paid off as a recurring payment method.
  • Added new settings to the loan type record, "Origination Date Timing" and Maturity Date Timing", to allow users to control whether interest is calculated on the origination date or the maturity date.
  • Added new global setting, "Precision APR", which allows for the APR to be specified out to the 8th decimal place instead of the 4th decimal place.
  • Added support for Effective Interest Rate amortization of origination fees/discounts/premiums on loans with variable interest rates with new amortization methods:
    • Effective Interest : Loan Principal (Variable Rate)
    • Effective Interest : Loan Principal - Fees/Discount/Premium (Variable Rate)

Loan Origination

  • Added new global setting, "Automate Invoicing of Source Transaction", which allows for the automated creation of an invoice for the originating transaction upon posting of the initial balance entry (if an invoice does not already exist for the originating sales order). 
  • Added new global setting, "Automate Payment of Source Transaction", which allows for the automated creation of a payment for the originating transaction upon posting of the initial balance entry (if a payment does not already exist for the originating sales order's invoice).
  • Added logic to tag the NetLoan Loan field on the source transaction when creating a new loan.
  • Added the abiility to have a custom Go-Live Date for each loan with the "Override Go-Live Date" field on the accounting subtab.

Modifications

  • Added new modification type, "Disbursement", to allow users to increase the loan balance by a specified amount - billable to a specific vendor.
  • New modification type, "Statement Adjustment", to allow users to adjust the interest and payment on borrower loans to match their bank statement.
  • Added new field to the modification proposal, "Unpaid Invoices", which allows users to see the total amount of the unpaid invoices for the loan prior to modifying the loan.
  • Updated effective interest rate calculations on true ups to use the go-forward schedule instead of the alternate schedule for increased reliability and precision.

Performance

  • Updated all amortization schedule generating jobs (initial schedule generation, modification, time machine) to perform updates as in-line edits to loan amortization schedule sublist resulting in up to 8x performance improvement (results may vary).
    • NOTE: Because of these changes User Event Scripts and Workflows deployed to the NetLoan Schedule Line record will no longer fire - to opt back into the old schedule generation method, navigate to NetLoan > NetLoan Setup > System Setup and check the "Trigger UEs on Schedule Generation (Slow)" checkbox.

Reporting

  • Improved speed on waterfall reports by removing schedule line date grouping thereafter.

Revolving Credit Loans

  • Added the ability to calculate month end after amortization posting for final minimum payment re-calculations.
  • Added a new loan type field, Revolving Interest Calculation Basis, which allows users to select the loan balance used to calculate month end interest calculations. Current options are:
    • Average Loan Balance
    • Average Loan Balance Without New Charge
    • Final Loan Balance
  • Hard coded logic to set interest to 0 if loan balance is 0 at month end regardless of the above setting.
  • New loan type setting, Stay Commenced When Fully Paid, to drive whether the revolving loan should stay in a status of commenced when the loan balance is paid down to zero.

Servicer Loans

  • Added the ability to quickly create the participant loan from the "Create Participant Loan" button on the Ownership Record.

Statements

  • Added date filters to the email and print statements pages.
  • Added the ability to bulk print statements (up to about 25 at a time).
  • Added ability to filter for statements by status when emailing or printing statements.
  • Added a new field to the customer record, NetLoan Statement Delivery Preference, that allows users to specify whether they want to receive statements via email, via print, or not at all.
  • Added 2 new fields to the statement template record, "Sender" and "Reply To Email", which allow users to specify how the sender displays on the email and who the reply to address is.
  • Added new, "Mark As Sent" checkbox to determine whether or not to update the statement status to "Sent" when emailing or printing statements.
  • Improvements Custom Search Table data gathering:
    • Added options for secondary GL and subledger saved searches when producing a loan/customer statement
    • Updated GL Activity filtering to allow for filtering for transactions with loans at the body level and/or at the line level
    • Added new "Apply Date Filters" checkboxes to the Statement Template to control whether statement date filters are applied to the Amortization Schedule and the G/L Activity Saved Searches.

Miscellaneous

  • Various bug fixes (see minor release notes).
  • Fully tested for the NetSuite 2025.1 release.
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