New Zealand High-Cost Consumer Credit Contracts; Individual Payment entry now shows actual Payment Fee to be charged
In the Account Payment wizard you can enter a Payment Fee. However, for a New Zealand High-Cost Consumer Credit Contract the actual Payment Fee charged may be reduced because it exceeds the maximum allowable Cost of Borrowing.
Also, if the Payment is inclusive of the fee, as in a Direct Debit, the fee may be reduced, but the payment including the full fee will be deducted.
This has been changed so the adjusted fee is shown, and used where the payment includes the fee.
The following standard Summary Page block has been updated:
- Version 1.04, Last updated 8/05/2020