Article Details
Id: | 18912 |
Product: | finPOWER Connect |
Type: | FIX |
Version: | 3.04.03 |
Opened: | 23/12/2021 |
Closed: | 23/12/2021 |
Released: | 01/02/2022 |
Job: | J028085 |
High Importance |
Defaults; Default Interest charged incorrectly
Default Interest is charged where not expected, or over charged.
This may occur under the following scenario:
- Account Type.
- Default Interest Overdue Basis is "Contractual Overdue".
- Payment Grace Period "Charge Defaults in partial grace period at end of Interest Period?" is unchecked.
- Account becomes Overdue, or more Overdue, within the Payment Grace Period.
In this case the Contractual Overdue Balance value is not adjusted for the Payment Grace Period.