Article Details
Id:22002
Product:finPOWER Connect
Type:NEW
Version:6.00.00
Opened:09/12/2024
Closed:04/02/2025
Released:17/04/2025
Job: J034863

Balloon Payments; "Adjust Final Payment before Balloon Payment" enhanced to handle more scenarios

When the Account Type setting Adjust Final Payment before Balloon Payment is checked, an Account will attempt to match the entered Balloon value exactly by altering the Final Payment before the Balloon. This is discussed in detail in this Blog.

Enhancements have been made to the process to further reduce the likelihood of scenarios where the adjustment was not working (due to rounding) and therefore the Adjustment (Final before Balloon) was not being applied.

In addition, this functionality was skipped entirely if entering a payment value for the calculation, i.e. it was only applied if finPOWER Connect calculated the payment value. This has been enhanced as well, and now regardless of whether finPOWER Connect is calculating the payment value, or if it has been set manually, the Balloon adjustment will be attempted (assuming the Account Type option is switched on).