NetLoan - Payment Type Automation Setup
Payment Auto-Generation Setup
If this payment type should be applied to specific loans that meet set criteria then you can automate the creation of these fees by providing the below information in the auto-generation section of the payment type record:
| Field | Description |
| Auto-Generation Saved Search | Saved search is used to find the loans that this payment type should be applied to. This saved search will need to be configured with criteria that only include loans that this payment type should be applied to |
| Auto-Generation Query | Alternative way of setting criteria that determine which loans this payment type should be applied to |
| Auto-Generation Timing Unit | Sets a unit of measurement used in the "Auto-Generation Timing Periods" field |
| Auto-Generation Timing Periods | Indicates how long from the date the loan initially meets the criteria the payment should be applied to the amortization schedule. If this is a payment type for which an invoice is created then this will also determine the invoice date |
| Auto-Generation Percentage | If the amount of the payment is based on a percentage of another balance then the percentage can be input here. If this field is left blank it will default to the value input into the "Default Payment Amount" field in the "Primary Information" section of the payment type record |
| Auto-Generation Apply Percentage Search | Saved search that is used to find the payment amount by applying the percentage indicated in the "Auto-Generation Percentage" field results in the first column of the saved search |
| Auto-Generation Amount Query | An alternative advanced way of finding the payment amount by applying a percentage to the queried value |
Step-By-Step Setup
- Before you select options under the Auto-Generation section of the Payment Type you will want to create the saved searches you would like to use in both the Auto-Generation Saved Search and Auto-Generation Apply Percentage Search fields (if applicable). Use the instructions in this NetSuite article to create a new NetLoan Loan saved search.
- For the Auto-Generation Saved Search, you will need to use a NetLoan Loan saved search and adjust the criteria to only show those loans to which you would like to automatically apply this payment.
- For the Auto-Generation Apply Percentage Search, the first result column will be the value to which the percentage is applied.
- In the Auto-Generation Saved Search field select the saved search you previously created.
Note: If you need more advanced criteria capabilities than a saved search can provide when searching for loans to which you would like to apply for this payment then you can utilize the Auto-Generation Query field. Feel free to reach out to support@netgain.tech if you would like to hire one of our developers to assist you with SQL coding. - Next, select the unit of measurement you would like to use in the "Auto-Generation Timing Periods" field and then input the desired unit into that same field. That field designates how many days, weeks, and months after a loan meets the set criteria this payment will be added to the loan schedule.
- If you would like to use a percentage calculation to determine the payment amount you will need to indicate the desired percentage in the Auto-Generation Percentage field and select the saved search you would have previously created in the Auto-Generation Apply Percentage Search field.
Note: If you need more advanced criteria capabilities than a saved search can provide when searching for amounts to which you would like to apply this percentage then you can utilize the Auto-Generation Amount Query field. Feel free to reach out to support@netgain.tech if you would like to hire one of our developers to assist you with the SQL coding. - Save the Payment Type record to apply these changes.