Article Details
Id: | 11034 |
Product: | finPOWER Connect |
Type: | FIX |
Version: | 1.06.08 |
Opened: | 03/04/2013 |
Closed: | 04/04/2013 |
Released: | 28/05/2013 |
Job: | J011391 |
Payment Arrangement wizard; incorrectly showing default interest/ fees after Maturity date
The Payment Arrangement wizard may incorrectly show Default Interest and Fees after the current Maturity date.
This may occur if the Account Type's "Or post final date from Payment Arrangement?" option is checked. This setting is found on the "Overdue & Defaults" page, under Charge Default Interest on Account 'Balance' when:".
When checked, and during a Payment Arrangement no Default Interest or Fees should be charged for the reason it is past the final payment of the current Payment Arrangement, as it will never be past the final date!
Note, after the Payment Arrangement is saved the schedule is correctly built, not including default interest/ fees prior to the final date from the current Payment Arrangement.