Article Details
Id:18132
Product:finPOWER Connect
Type:NEW
Version:3.04.00
Opened:16/04/2021
Closed:16/04/2021
Released:30/06/2021
Job: J026380

Deposit Accounts: a new option to roll Interest Payout dates forward if they fall on a non-Business Day has been added

A new option has been added to Deposit Accounts to roll forward Interest Payout dates if they fall on a non-Business Day.

To use this option, under Account Types, Interest Options page, check "Roll Interest Payout Date forward if it falls on a non-Business Day?".

This setting is unchecked by default to preserve the current behaviour.

NOTE: This does not roll the date Interest is credited to the Account forward, only the date it is paid out via Cheque or Direct Credit.

The balance of the Deposit Account will not include the payout until the date it is paid out. This means the Interest for the days between when it is charged and paid out will be higher.