Account Refinance; may fail with an "Invalid First Payment date" error

The Account Refinance wizard may fail with an "Failed to commit Account Close. Failed to Refinance Account. Failed to create Refinance Account. Failed to calculate Account. Failed to get simplified Term. Invalid First Payment date" error.

This may occur because the first payment date is undefined or prior to the opening date of the Account. For example, the new Account Type default is "On Date" but the first date is undefined.

A Refinance now resets the first payment period to "Standard" if the existing period is "On Date".