NetLoan Reviews

We are a growing company with over 40 different equipment financing arrangements. Prior to implementing NetLoan we tracked everything in Excel. Monthly payments were never recorded with the correct principal and interest break out and all accounts had to be manually reconciled to the bank quarterly before I could prepare the debt roll-forward. Now all loan payments are recorded accurately each month with just a few mouse clicks. There is a built-in debt roll-forward report that I can run at any time and download to Excel. This has absolutely made my life easier.

The debt-roll forward report is extremely helpful.

Loans do have to start on the 1st day of the month, which takes a little getting used to.

I no longer have to prepare a manual debt roll-forward and the loan balances match the bank each month.

Ease of inputting the data, simple to review the schedules and post entries to the general ledger. Not being a loan expert, I was able to follow the process and understand the entries being created thanks to the team at NetGain and the NetLoan tool itself.

So far we have not experienced any downsides. There have been many updates to account for with the tool but that is a factor of NetGain continuing to improve the product which is appreciated.

If your company uses loans, this is a great tool to get your loan schedules set up and maintain the loans. I highly recommend this tool.

Managing loan schedules and providing a loan subledger for all of our companies

The schedule can be customized to match precisely your excel calculated, so there is no difference if you migrate existing schedule to the system.

We have not found anything we don't like about it yet.

Spend some time implementing it correctly, and it brings so much efficiency.

Enable us to automate all month-end closes for Loan and Note Receivables, including interest accrue, LT and ST reclass, monthly loan repayment, reconciliation and reporting

Handling loan amortization in NetSuite is complicated and painful. We were looking for a way to automate the day-to-day loan transactions, and NetLoan was the perfect fit.

NetLoan allows for all monthly transactions to be handled with just a few clicks of the mouse. Great audit trail, and an incredibly well built SuiteApp.

No complaints, it has been a welcome addition, and everything just works.

We had to use Excel for all loan amortization, now it lives in NetSuite as it should. Month-end close got that much faster for us in part to NetLoan.