Article Details
Id:10126
Product:finPOWER Connect
Type:FIX
Version:1.05.07
Opened:08/06/2012
Closed:08/06/2012
Released:15/06/2012
Job: J009782

Account Schedule; "Expected Payment(s) due today" could be overstated and confusing when using Grace Days

On the Account's Financial Schedule an item is added for any payments that are expected to be paid today (excluding Direct Debits, which are shown separately).

When using a Payment Grace period, a payment due will still be expected to be paid during this period, and therefore will be included in the "Expected Payment(s) due today"

However, if a Payment Arrangement or Overdue Balance Adjustment is made, payments due prior to this and still in the grace period should not be included in this Expected Payment - and they were prior to this change.

In addition, if an expected payment is re-dated because a grace period has been applied to it, the Schedule item's description states "Expected Payment re-dated from..." rather than just "Payment re-dated from...".