Article Details
Id:13659
Product:finPOWER Connect
Type:FIX
Version:3.00.00
Opened:03/03/2016
Closed:03/03/2016
Released:06/07/2016
Job: J017014

Interest Only Loan Account Types; closing payment transaction is allocated to Interest

When closing an Interest Only Loan Account Types the closing payment transaction is allocated to Interest, leaving the Interest Balance negative and a large Principal Balance.

This has been changed so the Payment made during an Account Close is allocated using the "Automatic" option - rather than the Account Type's default.