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.