Id: | 13185 |
Product: | finPOWER Connect |
Type: | FIX |
Version: | 2.03.02 |
Opened: | 05/08/2015 |
Closed: | 05/08/2015 |
Released: | 01/09/2015 |
Job: | J016045 |
Payment Arrangement wizard; Interest post maturity still charging when Account Type setting, Interest Options, Interest post maturity set to "Do not Charge"
In the Payment Arrangement wizard, Interest post maturity is still charging when the Account Type setting, Interest Options, Interest post maturity is set to "Do not Charge". Note, after the Payment Arrangement is committed the Account calculates correctly, but since the Payment Arrangement was incorrectly calculated the remaining payments will overpay the Account.
This issue depends upon the Account Type "Overdue & Defaults", "Charge Default Interest on Account Balance" setting under the Post Maturity checkbox "Or post final payment date from Payment Arrangement".
If checked, this means that during the Payment Arrangement the "final payment date from Payment Arrangement" will never be reached - hence Default Interest should NOT be charged. This is working correctly.
If unchecked, this means that during the Payment Arrangement the current Maturity Date should be respected - it wasn't, hence the issue.