Article Details
Id: | 13439 |
Product: | finPOWER Connect |
Type: | FIX |
Version: | 2.03.04 |
Opened: | 24/11/2015 |
Closed: | 24/11/2015 |
Released: | 03/02/2016 |
Job: | J016607 |
Loan calculation; unexpectedly fails with a "Failed to calculate Account." error
When calculating a Loan Account, finPOWER Connect may unexpectedly fail with the following error:
Failed to calculate Account.
The Payment value cannot be calculated. Reasons for this include:
1. The Balance Payable is spread over too many Payments.
2. The Final Payment date does not coincide with the Maturity date.
Consider:
1. Decreasing the Number of Payments.
2. Changing the Payment frequency.
3. Changing the First Payment Period to 'Standard'.
4. Using a Balloon Payment.
To recreate enter the following Financial details:
1. Loan Advance of $48,000 - no other Transactions.
2. 208 Weekly payments.
3. Interest Free (or 0%).
An issue with the rounding of test payments has been corrected.