Article Details
Id:10871
Product:finPOWER Connect
Type:FIX
Version:1.06.06
Opened:28/01/2013
Closed:28/01/2013
Released:29/01/2013
Job: J011043

Account Restructure; cannot Restructure an Account if Interest is suspended

You cannot Restructure an Account if an Interest Transaction is created in the Restructure and is dated prior to an automatically allocated Payment. This would cause the payment to reallocate to Interest and therefore cause a ripple effect on balance allocations.

If Interest is suspended then it is likely if Interest were unsuspended that several Interest transactions would be created and there would be a payment dated after one of these transactions. The Restructure allows you to unsuspend and charge Interest, and this may backdate Interest transactions prior to a payment - therefore the Restructure will prevent you from continuing.

If Interest is suspended the following message is now displayed "Interest is Suspended and automatically allocated Payments are dated after potential Interest Transactions. Please either unsuspend Interest and run Account Processes up-to-date, complete a manual Interest Adjustment or manually allocate Payments.".

The alternatives are:

1. Unsuspend Interest and run Account Process up-to-date to cause Interest transactions to be created.

2. Complete a manual Interest adjustment dated the day before the Restructure. Normally this would be for $0, but you could charge Interest here.

3. Manually allocate all payments dated since Interest was suspended.