NetLoan - Enabling Collections and How Payment Statuses Work
Overview
This article shows you how to turn on the NetLoan Collections module and explains how the loan Payment Status field is assigned once it's enabled. Enabling Collections activates a nightly job that evaluates each commenced loan for overdue payments and sets one of four core statuses on the loan. This is a one-time setup per NetSuite account and is the prerequisite for every other Collections capability.
Prerequisites
- NetLoan installed and configured (loan types, payment types, and at least one commenced loan to see statuses populate).
- A NetSuite role with administrator-level access to NetLoan Setup.
- This is implementation-time setup. Once enabled, status assignment is ongoing and automatic.
Setup Options
Navigation
- Top navigation: NetLoan > NetLoan Setup > System Setup, then select the System Features tab and enable the Collections feature under the System Feature Selections section.
The Collections global setting is added by the NetLoan Setup Suitelet. Checking it activates the nightly job that maintains the Payment Status field on loans.
NetLoan Setup - Collections
| Field Name | Field Type | Description | Dependencies | Options / Example | Field ID |
|---|---|---|---|---|---|
| Collections | Checkbox | Activates the Collections module for this account. When checked, the nightly job begins setting the Payment Status on commenced loans, and the status-driven automation (cases, fees, loan updates) becomes available. | None | Checked / Unchecked | [unknown] |
Core Payment Statuses
Once enabled, the nightly job assigns each loan one of these core statuses based on its payments. Custom statuses (covered in a separate article) always map back to one of these.
| Status | When it's assigned |
|---|---|
| Pending | The loan has not yet commenced. This is the status before any payments are due. |
| Current | Set when the loan commences, and maintained while there are no payments overdue beyond the configured grace period. |
| In Arrears | One or more payments are past due by the configured number of days. |
| Fully Paid | The loan has been fully paid or refunded. |
The number of days a payment can be late before a loan moves to In Arrears is configurable. Commencement sets Current automatically through the NetLoan Loan user event script.
Use Case Specific Setup
Use Case: Arrears flags only
For teams that just want visibility into which loans are overdue, without automating cases or fees:
| Field | Setting | Notes |
|---|---|---|
| Collections | Checked | Enables the nightly job and core status assignment |
| Custom statuses | Not configured | Core statuses alone provide the arrears flag |
Loans will display Pending / Current / In Arrears / Fully Paid with no further setup. Add custom statuses later when you're ready to automate actions.
Use Case: Foundation for automation
For teams that intend to automate cases, fees, or loan updates:
| Field | Setting | Notes |
|---|---|---|
| Collections | Checked | Required before any custom status or automation works |
| Next step | Create custom statuses | See NetLoan - Creating Custom Payment Statuses |
Enable the setting first, confirm core statuses are populating correctly on your loans, then build custom statuses on top.
