Article Details
Id:21360
Product:finPOWER Connect
Type:NEW
Version:4.01.01
Opened:02/04/2024
Closed:03/04/2024
Released:24/06/2024
Job: J033224

Loan Reports; Residual Value for Revolving Credit Loans is now reported

The Residual Value for Revolving Credit Loans is now reported in various Loan and Account Reports.

Typically a Revolving Credit Loan does not include a Residual Value because by their nature they have no end date. However, where the Revolving Credit Loan's Minimum Payment Basis is "Instalment" you can define an End Date and Residual Value. This Residual Value is now reported.

Note, the Residual Value, from the Instalment Minimum Payment, is date sensitive, so if the Report is not dated the current date is assumed when fetching the Residual Value to report on.