Article Details
Id: | 15072 |
Product: | finPOWER Connect |
Type: | NEW |
Version: | 3.01.00 |
Opened: | 06/06/2017 |
Closed: | 21/11/2017 |
Released: | 23/02/2018 |
Job: | J019121 |
Account Calculation; Comparison Rate Type now stored as calculated
Fixed Term Loan classes include a Comparison Rate calculation option. The Rate is calculated when the Loan is a Quote and is stored as part of the opening Account Calculation.
However, the Comparison Rate Type was not stored with the Account Calculation, rather it used the current Account Type setting. This was by design, as this typically would not change.
However, this has been updated to now store the Comparison Rate Type on the Account Calculation, in case the Account Type does change.
The database upgrade, post conversion process, will set the Comparison Type on the Account Calculation to the current Account Type setting.
Note, full details of the calculation are stored as audit information on the Account.