Article Details
Id:15021
Product:finPOWER Connect
Type:NEW
Version:3.01.00
Opened:27/10/2017
Closed:08/11/2017
Released:23/02/2018
Job: J019853

Commissions; Present Value calculation not working as per finPOWER 5

The External Party Commission Basis of "Present Value" is not working the same as finPOWER 5.

Therefore a new Commission Rule Basis of "Present Value (Amount Financed)" has been added to work the same as finPOWER 5.

The difference is as follows:

  • The PMT value for "Present Value" is calculated as Total Payments / NPer
  • The PMT value for "Present Value (Amount Financed)" is calculated as (Amount Financed + Total Interest) / NPer

NPer = Term in months

The following standard Summary Page blocks have been updated:

"Account_TransactionDisbursementSummary" has been updated to version 1.01 on 27/10/2017.

"AccountDisbursement_Summary" has been updated to version 1.03 on 27/10/2017.

"AccountDisbursementPayee_DisbursementSummary" has been updated to version 1.02 on 25/10/2017.

"AccountDisbursementsApprove_DisbursementSummary" has been updated to version 1.02 on 27/10/2017.