NEW1.04.01 · Released 31 August 2011

NEWfinPOWER Connect

Released in

1.04.01

31 August 2011

1. Opened8 Aug
2. Closed8 Aug
3. Released31 Aug

Article 9077 Job J007936

Fixed Term Loans; new option to align first Interest date to the first Payment date

Fixed Term Loans have a new option to align the first Interest date to the first Payment date. This makes it easier to handle loans where the first payment date is non-standard and Interest is aligned to Payments.

This option is configured under Account Types, Interest page and would normally be used in conjunction with the "Update Interest Cycle from Payment cycle?".

When checked the first Interest date will be aligned to the first payment date. Interest is actually charged to the day before the Payment is due.