Adam Riches, CPA, demos NetLoan, a NetSuite tool that automates loan accounting. It captures loan details, generates amortization schedules, posts journal entries automatically, and handles modifications like forgiveness and principal payoffs without manual recalculation.
You. Welcome to this demo of NetLoan. NetLoan is a certified native NetSuite debt accounting and management tool built by NetGain. It was a group of CPAs and NetSuite experts who came together to build advanced accounting modules. As you can see in my demo account you can see Net Asset, Net Lessor, Net Lease and Net Loan, our four products. Today we're going to be focusing on Net loans specifically and to get going, I'm going to open up one of our loan records. On our loan record, this is where we are going to capture all of your key loan details. So in my primary information you can see my unique identifier, the name of my loan, as well as the type of my loan. Being a native NetSuite solution, we are tying right into your native NetSuite subsidiary structure. We can tie right into your CRM. See, I have my lender tagged here and we can manage your loans in any of the currencies you're using in your NetSuite account. Moving down to the schedule information, this is going to be the information that drives our amortization schedule. So you can see our origination date, our initial payment date, as well as our initial loan balance. We also have our loan term. You can see this is a 36 month long term. Our annual percentage rate, our initial monthly payment and our maturity date. Now for our loans, if we have any loan origination fees that we'd like to capitalize, we can build those in, build in a down payment as well as a balloon payment. For this loan example, I've already went ahead and built out the amortization schedule and that's what you can see here at the bottom of my screen. You can see the period, start date, the payment amount, the amount allocated to principal now allocated to interest, and the running loan balance. Now as you can see, I also have booked some journal entries right here on the right hand side of my screen. The nice thing about booking journal entries in our system is there are never any surprises because these journal entries are pulling directly from these lines of data. So let's go ahead and actually open up our initial balance journal entry as well as our first amortization entry. So with the initial balance entry, this is where we're booking that liability. We're also booking the actual proceeds amount to a clearing account. And this is how we're going to tie into ar. And then if we move over to our amortization entry, this is where we're booking the interest expense. We're reducing our liability. Reducing the liability right Here. And then for the actual payment amount, we're hitting another clearing account and this is how we're going to tie to ap. So along those same lines, let's go back to our loan record and if I scroll up and go to my related records right here, I'm going to be able to see all of my bills and payments that are associated with this loan record. Again, this is a nice feature of having a fully embedded solution because you really get a 360 degree view of your loan. Because everything's tied together now under this accounting tab, this is where we can tie it right into your native NetSuite segments, department class location. We can add custom segments as well. If you have a variable rate loan, we do not automate the variable rate loans. However, you can track the variable rate index and if it is a variable rate loan and then you could run a modification on a monthly basis for that variation in the rate. Next, we can upload any executed loan agreements. You do have full system notes, so it's very easy to audit our system. And then lastly it's very easy to run modifications in Net Loan. So if I come here to the top of my screen, you'll see this modify loan button. Let's go ahead and drill into that. This is where we can easily adjust our loan terms. We can build in loan forgiveness. We can pay off principal one time or recurring or we can pay off the remaining balance. And Net Loan is going to automate these modification journal entries for you as well as rerun the remainder of your schedule so that you'll have the correct schedule moving forward. The other thing I really like about NetLoan is the reporting. We have reconciliation and GL reports. We do have subledger reports and we have disclosure and admin reports. I'm not going to go deep into the different reports, but I do want to show you a few of my favorites. I come from an audit background, so naturally I like the roll forward reports. As you can see here, it's a pretty standard roll forward. You can see our beginning balance, originations, interest payments, other and ending balance. And the N here is we can run this roll forward for whatever dates we'd like to see. We can run this consolidated or for a specific subsidiary. We also have those segments as well. Department class location. And you do have full drill down capabilities. And so I can drill in and see all of my notes payable and see the activity. And then the last report I wanted to quickly go over was the waterfall report. So we do have forecasting reports as well and this is where you have the same filters. One difference being this report type on the far right hand side. This is where we can either run this waterfall for our payments, interest or principal. So it's really three reports in one with the same drill down capabilities. You can export this right into Excel. Now I know this is a really quick demo of netloan. If you'd like to meet with us and see a more in depth demo of Netloan, please feel free to reach out and we can get a demo scheduled. Thanks for your time.
