NetLoan - Financing Option Approval (General)
Overview
When a NetLoan Financing Option is selected on a Sales Order in NetSuite, a user with the proper permissions will need to review the financing option and approve it for a loan to be created.
Prerequisites:
- You must have previously enabled the "Financing Option" feature on the "System Features" tab of the "NetLoan Setup page.
- Make sure that "Financing Option" is not selected in the "Auto Approve Transactions" multiselect on the "General" tab of the "NetLoan Setup" page. If it is selected, the financing options will not be displayed on the sales order. To unselect it from the mutiselect, click "Financing Option" while holding the control/command button.
- You must have previously selected a financing option on the Sales Order.
Navigation
- Navigate to Transactions > Sales > Enter Sales Order > List.
- View the sales order for which you need to approve the financing option.
- Navigate to Transactions > Sales > Enter Sales Order > List.
Step-By-Step Instructions
- On the Sales Order, open the "NetLoan" tab. Review the information listed on the Financing Option that was selected to ensure it is correct. You can click into the Borrower to see whether they should qualify for the requested financing.
- You can click into the Borrower to see whether they should qualify for the requested financing.
- Click the "Edit" button on the Sales Order.
- When you have reviewed the financing option, either:
- Set the "NetLoan Financing Option Approval Status to "Approved" to have the system create a loan.
- Or, set the "NetLoan Financing Option Approval Status to "Rejected" to prevent a loan from being created.
- Set the "NetLoan Financing Option Approval Status to "Approved" to have the system create a loan.
- Click the Save button. This will save your changes and kick off the creation of a loan record if the Financing Option was approved.
- Once the record has saved, you should see the newly created loanlinkedin the "Loan" field on the "NetLoan" tab.