| Id: | 12114 |
| Product: | finPOWER Connect |
| Type: | FIX |
| Version: | 2.02.00 |
| Opened: | 31/07/2014 |
| Closed: | 01/08/2014 |
| Released: | 29/09/2014 |
| Job: | J013722 |
 High Importance |
|
 Breaking Change |
|
New Account; Standard Transactions calculated as "Percent of Total Advances" may not charge as expected
Standard Transactions for a New Account with a calculation basis of "Percent of Total Advances" may not charge as expected.
In particular the schedule shown prior to opening the Account may differ from that after the Account is opened.
To recreate:
1. Add a new Account.
2. Add a Loan Advance, Cycle as "Opening" and a set value of $5,000.
3. Add a Fee, Cycle as "Once", First as "Opening" and Basis/ Percent as "Percent of Total Advance" and 10%.
4. Add a Loan Advance, Cycle as "Opening" and a set value of $1,000.
5. At this point the Fee is calculated as 10% of $5,000, i.e. $500. The Transaction listed are and Advance, Fee and then Advance.
6. Open the Account.
7. Review the Schedule, the Fee is calculated as 10% of $6,000, i.e. $600. The Transactions listed are Advance, Advance and lastly Fee.
After this change all "Opening" transactions will be correctly shown first, as above in step 7, even prior to the Account being open.
To create an Account with an Advance, Fee and then Advance (where the Fee only charges a percentage of the first Advance), you must enter second Advance with a Cycle of "Once" and First date as "Opening".