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LoanAssistant has proven to be an invaluable tool for users in managing multiple lines of credit, providing them with a centralized …
Starting at $999 per year
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What is LoanAssistant?
LoanAssistant is a loan servicing software add-on developed by Integrated Accounting Solutions that seamlessly integrates with QuickBooks. It is designed to efficiently manage multiple loans and credit lines, catering to businesses of all sizes. The software is widely used by financial institutions,...
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Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Starting price (does not include set up fee)
- $999 per year
Product Details
- About
- Tech Details
What is LoanAssistant?
LoanAssistant is a loan servicing software add-on developed by Integrated Accounting Solutions that seamlessly integrates with QuickBooks. It is designed to efficiently manage multiple loans and credit lines, catering to businesses of all sizes. The software is widely used by financial institutions, mortgage lenders, credit unions, banks, and loan servicing companies to streamline their loan management processes.
Key Features
Loan Management: LoanAssistant provides comprehensive loan management capabilities for both lenders and borrowers, allowing users to efficiently service an unlimited number of loans and credit lines across various segments of the lending industry.
QuickBooks Integration: LoanAssistant seamlessly integrates with QuickBooks Online and QuickBooks Desktop Companies, ensuring accurate and up-to-date financial records. It also allows for a combined report of loan portfolios from different QuickBooks Companies.
Reporting Features: Generate essential reports such as amortization tables, payment coupons, billing statements, pay-off statements, and borrower account statements. The software offers a variety of reporting options to meet the specific needs of lenders and borrowers.
Flexible Loan Servicing Support: Assign multiple borrowers and guarantors to a single loan, and utilize the escrow module for third-party payments such as taxes and insurance. It also supports multi-user network setup for simultaneous access and management of loan data.
Interest Calculation Options: LoanAssistant offers various interest calculation options, including cash basis and accrual accounting. It supports self-amortized, balloon, and interest-only loans, and allows for interest calculation based on different methods.
Investor Tracking and Reporting: Track investors' certificates of deposits and support participation pools with one or multiple investors. Allocate investors based on fixed percentages or the amount of capital invested.
LoanAssistant Features
- Supported: Seamless integration with QuickBooks
- Supported: Loan management
- Supported: Borrower, managerial, and portfolio summary reporting
- Supported: Interest calculation options
- Supported: Flexible loan servicing support
- Supported: Investor tracking and reporting
LoanAssistant Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
LoanAssistant has proven to be an invaluable tool for users in managing multiple lines of credit, providing them with a centralized platform that saves time and streamlines their loan management process. The integration with QuickBooks and the availability of periodic reporting features have been particularly helpful for users in efficiently tracking loans and managing their finances. Users have also praised LoanAssistant's ability to provide mortgage analytics, as it has saved them significant time and allowed them to offer suitable loan options to their clients.
One of the standout features of LoanAssistant is its flexibility and customization options, which users have found to be instrumental in tailoring the software to fit their individual needs. The seamless integration with other software, especially QuickBooks, has been highly appreciated by users who were already using it for their accounting requirements. Users have also applauded LoanAssistant's user-friendly interface and powerful capabilities, which have enabled them to reduce the laborious work of managing loans and generating reports.
The outstanding customer service provided by the LoanAssistant team has been another key factor contributing to user satisfaction. They have consistently received prompt responses and resolutions to their questions and concerns, making the overall experience with LoanAssistant a positive one. Moreover, users have found the transfer of existing data relatively easy, minimizing the learning curve associated with adopting a new software solution.
In summary, LoanAssistant solves key business problems for users by offering efficient loan management functionalities such as centralized credit line management, integration with accounting software like QuickBooks, mortgage analytics, customization options, and exceptional customer service. With its user-friendly interface and robust capabilities, LoanAssistant has proven to be a valuable tool for effectively managing loans and generating accurate reports while saving time and effort for users.
Intuitive and User-Friendly Interface: Many users have praised LoanAssistant for its intuitive and user-friendly interface. They have found it easy to navigate through the software, making loan management a seamless experience.
Integration with QuickBooks: The integration with QuickBooks has been highly appreciated by reviewers. Several users have mentioned that this feature allows them to seamlessly link LoanAssistant with their existing accounting software, streamlining their financial processes.
Helpful Customer Support: The customer support provided by LoanAssistant has received positive feedback from users. Reviewers have commended the support staff for their quick and thorough responses to questions and issues, ensuring a smooth experience with the software.
Expensive Pricing: Several reviewers have mentioned that the pricing of LoanAssistant is not affordable for the common man, which may deter potential users.
Limited Compatibility: Users have pointed out that the software is only compatible with the Windows platform, limiting its usability and restricting the potential client base.
Slow Field Identification: Some users have experienced frustration with the software's slow automatic identification of certain fields, which can be time-consuming.