Article Details
Id: | 19317 |
Product: | finPOWER Connect |
Type: | NEW |
Version: | 4.00.00 |
Opened: | 09/06/2022 |
Closed: | 05/07/2022 |
Released: | 21/12/2022 |
Job: | J028930 |
Revolving Credit Loans; may show "Expected Payment(s) due today" item in schedule
A Revolving Credit Loan may show "Expected Payment(s) due today" in the schedule where a payment is due and still within the Payment Grace Period.
Originally the Grace Period was 5 days, but has been increased to 10 and later 15 - so this increases the effect of this issue by prolonging the period the Expected Payment appears for,
This is the expected behaviour. However, in some scenarios this is not desirable. For example, if the Client overpays the Minimum Payment and an "Overdue Adjustment (Minimum Payment)" transaction is created. This Overdue Adjustment is included in the total that the Expected Payment is created from.
Instead this now zeros the Expected Payment - like an Account Balance Adjustment.