Article Details
Id:11560
Product:finPOWER Connect
Type:NEW
Version:2.00.02
Opened:22/11/2013
Closed:25/11/2013
Released:05/02/2014
Job: J012560

Interest Backdating; a new option has been added to ignore backdating on a Transaction

New functionality has been added to finBatch and finBatchTransaction to stop a Transaction updating the "Date Backdated To" for Interest calculations.

A new property "IgnoreInterestBackdating" has been added to finBatchTransaction. Setting this to True stops an individual Transaction from updating the date backdated to for interest.

Note, this must be scripted, i.e. there is no way to control this within the finPOWER Connect User Interface.

WARNING: If the Transaction affects the Interest Bearing Balance, then if Interest is backdated the Interest will still be updated. So, this should only be used on Non-Interest Bearing Fees and Principal.