New Zealand High-Cost Consumer Credit Contracts; updated Account Close wizard

The Account Close (including Close Quotation) wizard has been updated for New Zealand High-Cost Consumer Credit Contracts.

This includes adding warnings if the following conditions are detected:

• Transaction would be reduced
• Since a Close fee, adjustment etc, may be reduced when the Transaction is committed, that entered on screen may not reflect the actual transactions - so the Net Balance to Close may be inaccurate
• In this case the Close cannot proceed, and an error is displayed
• In addition you cannot create a Log or Print a Summary
• You should reduce fees to bring the net charges below the remaining Cost of Borrowing

• Posting Credits (Rebates)
• If Interest, Fees etc have already been reduced, doing an early settlement and rebating a cost may mean the Loan could have charged more - i.e. those earlier transactions and accruals could be charged
• In this case a warning message is displayed indicating you may wish to review the Loan further
• This does not prevent you committing the Close

The following standard Summary Page block has been updated:

• AccountClose_FinancialSummary
• Version 1.01, Last updated 5/04/2020