Account Close; Credit Write-Off for a New Zealand High-Cost Consumer Credit Contracts fails
The Account Close wizard fails to commit under the following scenario:
- Loan is a New Zealand High-Cost Consumer Credit Contract
- Method is "Written Off"
- Current Balance is in Credit
- Cost of Borrowing has already reached the cap, or will with the credit write-off
In this case the write off transaction is reduced to the maximum Cost of Borrowing cap, and therefore the balance of the Loan is not zero and the Close fails.
A change has been made to allow this scenario, i.e. the write-off journal transaction is not reduced to the maximum Cost of Borrowing allowed.