Article Details

Id:	19044
Product:	finPOWER Connect
Type:	FIX
Version:	3.04.04
Opened:	01/03/2022
Closed:	01/03/2022
Released:	09/06/2022
Job:	J028389
High Importance

Revolving Credit Loans; new option to charge Default Interest when past Maturity takes effect even though setting is unchecked

In version 3.04.03 a new feature was added to Revolving Credit Loan Types. This allowed Default Interest to be charged when the Loan is past Maturity. For more information see https://www.intersoft.co.nz/Support/KbArticle.aspx?id=18805.

However, even if the Account Type "Post Maturity?" setting is unchecked, Accounts are still charged Default Interest when Post Maturity.

This occurs because the Account Type Global Collection shows this setting as checked - and this is what is used when calculating the Account Schedule.

To fix this; edit the Account Type, change a value, e.g. Notes, save and then reset the value and save again. The action of saving the Account Type updates the information stored on the Account Type.