Account Calculations; Annualised Interest not calculating as expected for some dates

Annualised Interest was not calculating as expected for some dates and Interest Cycles (namely Monthly based cycle periods).

Annualised Interest calculates as follows (for a Monthly Interest cycle); if the Interest period is a whole Month, Interest is adjusted so that Interest = Interest / Days in Interest Period * 365 / 12. If the Interest period is a broken period, ie not a whole month, no adjustment is made.

However, certain Interest Periods were treated as broken periods, where they should not have been.

For example, an Account opened on the 31/12/2011 with a Monthly Interest cycle (Monthly on day 30) would create the following Interest Periods:

31/12/2011 - 30/1/2012
31/1/2012 - 29/2/2012
1/3/2012 - 30/3/2012 **
31/3/2012 - 30/4/2012
1/5/2012 - 30/5/2012 **

However the two Interest periods noted above with ** are not full months - and therefore were treated as broken months and NOT adjusted.

finPOWER Connect now includes additional logic that will catch these scenarios and treat them as full months.