AcuLoan has the ability to create loan classes and report groups. These two categories will allow users to organize the loans and assist with reports. Below is a brief overview of both loan classes and reporting groups.

Loan Classes

In AcuLoan for Acumatica, loan classes are groups of loans with similar properties. These classes make it easier to create individual Loan Accounts as preferences are set on the Loan Account From (LM301000). Once the specific classes have been selected, the system will insert the settings of that class for each loan account created. These settings will include account, subaccount, and others.

Along the toolbar in the middle of the loan classes screen users can see a summary, disbursement, services, files, and collateral tab. Below is information on what is included in each tab:
• Summary: information on the loan class profile
• Disbursement: the disbursement process and amount for the specific loan account
• Services: This tab shows the services that are set up for the loan account
• Files: shows any files that are necessary for the specific loan account
• Collateral: includes any collateral for that specific loan account

Reporting Groups

The reporting groups in AcuLoan are related to the subgroups in the program. These reporting groups are not mandatory to include in a new loan account but they are a great way to help different group types of loans together for reporting purposes. In the example below, there are report groups for loans titled foreign, local, or national; each of the loans in the corresponding report group is somehow related and needs to be included in the same report.

These report groups have no bearing on the calculations in AcuLoan.

If you think loan classes and reporting groups would be a benefit to your organization, please contact Polaris Business Solutions; info@polaris-business.com.