FIX3.00.00 · Released 6 July 2016

FIXfinPOWER Connect

Released in

3.00.00

6 July 2016

1. Opened3 Mar
2. Closed3 Mar
3. Released6 Jul

Article 13659 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.