Loan Accounts; new Close Method "Cancelled"

A new close method "Cancelled" has been added for Loan Account Types. This allows Loan Accounts to be flagged as cancelled and therefore treated differently.

A Cancel is treated in a similar fashion to a Write Off, except it does not allow Loan Accounts with a Credit Balance to be cancelled.

Note, it may still be possible to reset an Account to Quote, then modify or delete - if that is preferable.

• Product Types
• Allow an Information List to be defined for the Close Note.
• Account Type
• Rules allow filtering by Cancelled close method.
• Accounting
• Element to post write off transaction can be defined. This is optional and if not set will not allow a Loan Account to be cancelled.
• Element to allocate any Fee can be defined.
• New Permission Key
• Account.Loan.Close.Cancel; stops User cancelling a Loan Account.

The following standard Summary Page block has been updated:

• AccountCloseLog_Summary
• Version 1.01, Last updated 18/03/2020

Note, this has been added to cater for NZ High-Cost Consumer Credit Contracts.