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.