NetLoan - Loan Transfers
Overview
When loans are transferred to new subsidiaries, departments, classes, locations, or custom segments, this will need to be entered into NetLoan using a NetLoan Transfer Proposal.
Prerequisite: You must have the "Transfer Loan" quick access button selected on the "System Features" tab of the "NetLoan Setup" page to perform a transfer directly from the loan record.
Navigation
- Navigate to the NetLoan > Loan Management > Loan Register.
- Click into the loan for which you would like to enter a transfer.
Step-By-Step Instructions
- Click the "Transfer" button at the top or bottom of the loan record to start the process of entering a new NetLoan Transfer proposal for this specific loan.
- Enter the destination information as necessary to record the new classification of the loan.
Field Required? Description Example Effective Transfer Date Yes The date the transfer will be recorded in the amortization schedule.
Note that this is currently locked to the first day of the next open period. A future update will allow for flexible Effective Dates to be entered.03/01/2026 Subsidiary Yes This is where the new Subsidiary of the loan must be entered. ABC Company Location No This is where the new Location of the loan must be entered. Denver Department No This is where the new Department of the loan must be entered. Finance Class No This is where the new Class of the loan must be entered. Consumer Goods - NOTE: Custom segments transfer alongside the standard classifications. Any NetSuite custom segment applied to the loan record appears here as its own field, listed with Subsidiary, Location, Department, and Class, as soon as a Custom Sourcing rule exists for it. To add one, navigate to NetLoan > NetLoan Setup > Manage Custom Sourcing > New, set the Type to "Transaction Posting," set the From Loan Field to the segment field on the loan record, and set the To Transaction Field to the matching segment field on the transaction. NetLoan recognizes the segment automatically and reveals three additional fields — Schedule Line Segment Field, Old Transfer Proposal Field, and New Transfer Proposal Field — which determine where the pre- and post-transfer values are stored on the amortization schedule lines and on the Transfer Proposal record. Each custom segment field on this page defaults to "- Do Not Update -," so the loan keeps its existing value unless you select a new one; select "- None -" to clear it. For segments with a very large list of values the field displays as a standard dropdown instead, where leaving it blank has the same effect. Whether changing a custom segment on its own requires a transfer journal to be booked is controlled by the "Book Transfer Journal on Segment Change" checkbox, found under Transfer Settings on the General tab of the NetLoan Setup page. If a segment field does not appear on this page, confirm the custom segment has been applied to the NetLoan Loan record type — the Custom Sourcing rule will save successfully even when the source field does not exist on the loan.
- If the loan being transferred is an "Intercompany" entity type, then you can select from a number of Intercompany Transfer Override options.
Field Required? Description Example Intercompany Vendor No The intercompany vendor used in the case of an intercompany transfer. Required if the intercompany receivable/payable account is auto-eliminating. ABC Company Intercompany Customer No The intercompany customer used in the case of an intercompany transfer. Required if the intercompany receivable/payable account is auto-eliminating. XYZ Company Intercompany Receivable Account No The intercompany receivable account used can be overridden if desired. 1140 Interco Receivable Auto-Eliminating AR? No The intercompany receivable account selected has been designated on the account record for automated eliminations. ✔ Intercompany Payable Account No The intercompany payable account used can be overridden if desired. 2015 Interco Payable Auto-Eliminating AP? No The intercompany payable account selected has been designated on the account record for automated eliminations. ✔ - Click the "Transfer" button at the top of the page.
- You will be navigated back to the loan record, where you will see a confirmation banner letting you know that the transfer was successful. You will also see the transfer reflected in the amortization schedule.
- The newly created NetLoan Transfer Proposal can be found under the "Transfers" tab on the loan record. This record captures all the input selected during the transfer processes for record-keeping.
- The Advanced Intercompany Journal entry will show the reduction of all balance sheet accounts in the old classification and the reestablishment of those balances under the new classification.
