Article Details
Id:8567
Product:finPOWER Connect
Type:FIX
Version:1.03.00
Opened:15/03/2011
Closed:15/03/2011
Released:24/03/2011
Job: J007077

Account calculations; Default Interest does not charge on Maturity date

Under Account Types, Overdue & Defaults page, there is a setting to "Charge Default Interest on Account 'Balance' when 'Post Maturity'".

This should start charging on the Maturity date, as the payment was expected on that date. However, Account calculations started charging on the day after Maturity.

In addition the Interest Transaction's audit information did not correctly summarise the Default Interest values.