Article Details
Id: | 10692 |
Product: | finPOWER Connect |
Type: | FIX |
Version: | 1.06.05 |
Opened: | 13/11/2012 |
Closed: | 13/11/2012 |
Released: | 26/11/2012 |
Job: | J010727 |
Account schedule; Interest charged on weird dates and missed days in Interest periods
When building the Account financial schedule, Interest may be charged on unexpected days and have missing days between Interest periods if the Account has a Credit Balance.
This occurs where the Account has a credit balance, and is more obvious if there is also a future dated payment.
This occurred as when the next payment would have been due, finPOWER Connect incorrectly charges the Interest to the day before - when it shouldn't. This should only happen if the next payment would pay off the Account, ie take it's balance to zero.
Note, this will correct itself as Account Processes are run, as in this case expected payments are not included in the schedule calculated.