Expert1 News

News relating to Expert1's Products and Services

For more information on our Loan Origination and Management products visit our Product Page.

For updates and product downloads visit our Support Files Page.

Tango32 V3.98 Released

Loans

  • Fixed error "Could not find stored procedure" when trying to run direct debit for multiple days.
  • Fixed incorrect date of first Principal and Interest Payment for a hybrid loan where the first and last Interest-Only payments are due on the last day of the month, but the loan didn't settle on the last day of the month.

Tango32 V3.97 Released

Loans

  • New Direct Debit Variation facility to allow finer control over regular and one-off direct debits.
  • New Fields to record Credit Bureau scoring information against a loan at the time of settlement.
  • Fixed
    bug in Receipt Allocation Report which didn't pick up if an account had
    fees if that account had not been charged a penalty.  So accounts that
    had never been in arrears and weren't charged an overdue fee weren't
    showing account keeping fees on the report.
  • Modified Receipt Allocation Report to include non-chargeable up front subledgers if they're marked to be included on the report.
  • Fix rounding error on type 'C' ODI calcs
  • Improve accuracy of "depreciation per month" calculation for Prime Cost assets.
  • Fix rounding issues with asset disposals.
  • Improved performance of "Client" / "Search" screen when a client had more than one loan


Investments

  • New option for investments to set a "Low Rate" interest rate when an investment has a low balance
  • Modified Rollover / Reinvestment logic when rolling over so that Issue rate on sub accounts should be set to zero.
  • Fixed
    a bug in the form letter Printing wizard. While the number of letters
    to be printed seemed correct, the actual letters printed included a
    letter for the ROI sub account.  So for ROI accounts with sub accounts
    the wizard was printing two letters. For non ROI - sub accounts the
    wizard was only printing a single letter.  This caused the counters to
    be incorrect when sub accounts were involved.
  • Modified interest logic to not generate interest credits if accrual balance is negative.
  • Increase the lebngth of the "user" field in Diary Notes.
  • Fix performance issues with Generating Direct Credits for investors
  • Modified
    Rollover / Re-Investment logic to show interest payment separate from
    payout transaction.  Payout transactions on Investments now use the
    transaction description instead of just "Rollover".


General Ledger

  • Fixed bug which used incorrect Financial year start / end date was in some rare cases.


General

  • New facility to specify whether or not an ad-hoc query can be used as the data source for a form letter.


Tango32 V3.96 Released

Investments

  • New options on Investment Business Codes to specify the default settings for the flags "Pay Interest When Due" and "Pay By Direct Debit"
  • Fix length of parameters when printing Rollover form letters using the printing wizard
  • Fix bug in Rollover Printing Wizard which was counting ROI accounts twice.
  • Added min/max term to Investment Issues and Series
  • New option on Investment Payout Quotes to ignore "Pay Interest When Due" flag so that the quote includes interest that would normally be paid to the investor instead of being capitalized.
  • New option in Setup Parameters to delay the processing of a new investment until the "As At" date of processing is on or after the start date of the investment.
  • New option in Setup Parameters to prevent posting of transactions to completed investments.
  • Fix bug which ommitted "Additional Funds" when using the Rollover Wizard to process non-ROI investments.
  • "Additional Principal" now appears on the report when new investments are activated.
  • Modified system to prevent posting of automatic IC / IP transactions after maturity date
  • Modified system to allow rolling of non-ROI accounts into ROI accounts.
  • Fixed bug with IV statements not showing interest on sub account unless main account had transactions on/after the interest date on the sub account.
  • Fix bug with incorrect interest schedule and projected balance on account where interest hasn't been charged on an investment yet
  • Fix bug which incorrectly compounded interest on "Pay Interest When Due" accounts for payout quotes that spanned an interest boundary.
  • Fix rounding errors on IV payout quote


Loans

  • Classification5 (Dynamic Classification) now has new parameters:
@AsAtDate DATETIME    - the "As at date" of the calculation
@D1 INT            - days in arrears on the first day of the month
@D2 INT            - days in arrears on the "As at date"
@E1 DATETIME        - The "Effective Date of Default" of the loan
@B1 BIT            - Whether or not the loan is in default


  • Added a new subledger flag to include all scheduled future subledger charges in a Discounted Present Value payout quote.
  • Fix bug which caused an error because of a null "Due Date" when posting drawdowns which extend term of a loan.
  • Modified posting of VOID transactions to ensure they reverse out Subledger History as well,
  • New facility on the "Change Responsibility" screen to set a borrower to be the "Primary" borrower of a loan.
  • Improved performance / speed up special charges screen on a loan when there are no penalty debits.
  • Fix Interest Only loans which automatically adjust repayment amount where the loan starts on the first of the month.  Previously, interest charged on the last day of the month was changing payment due on the first day of the same month.  It should have been charging the payment due on the first day of the next month.
  • Fixed bug which made duplicate payments to linked investors when backdating interest on a loan.
  • Fix bug which caused "Void" transactions to hide other transactions entered on same day when Consolidation was enabled on a customer statement.
  • Fix bug with reversals not being correctly processed in linked investments.
  • Fix NULL error when getting totals for loans on the client form
  • Prevent overflows for unusually high balances when calculating yield rates.
  • Add "GeneralPurpose11" and "GeneralPurpose12" to the API to add new loans


Tango32 V3.95 Released

Version 3.95 8 March 2012

General

  • Enhanced Ad Hoc Query system to be able to import data



Loans

  • Fixed bug with API calls from external programs such as Phoenix which were creating incorrect repayment schedules for hybrid loans.
  • fixed bug with "Repair Schedule" when fees were scheduled to end of term of a loan.
  • Fixed "zero divide" error and incorrect handing of fees when they were charged advance on P&I report
  • Fixed problem with double up of "date due" in repayment schedule where a loan has several different repayment amounts
  • Fixed bug which updatied wrong schedule entries when adding a subledger to a loan.
  • Fixed bug in recalculation of loan totals for leases.
  • Improved schedule extension logic for drawdowns that reactivate loans
  • Improved accuracy of repayment calculations when drawing down on Interest Only Accounts.
  • Modified Direct debits export process to use "Transaction Description" as the transaction narrative
  • Add new payout method: A: Interest Paid In Advance
  • Changed logging system to include changes to client phone numbers in the log.
  • New facility to import external documents (PDF, DOC, RTF etc) into the diary reminders for a loan.
  • Modified Deli System to include penalty fees as part of the arears balance.
  • Modified logic for "Next Due Date" calculation to take into account penalty fees.
  • Fixed bug which caused arrears adjustments to cause incorrect payout quotes when using the discounted present value method


Investments

  • New Investment Rollover / Payout Wizard to automate the rollover process for investments
  • New Form Letter Printing Wizard for printing batches of form letters related to investment payouts / rollovers
  • Fix rounding issue when compounding interest over several months
  • Fix payout quote to include projected interest between last interest run and "as at date" of quote
  • Fixed bug in investment Balance projection report which was out one day on interest calcs which affected Payout Quotes
  • Improved order of payout / rollover transactions on Investment statements
  • Modified Direct Credit System to prevent Investment payouts generating direct credits
  • Fixed Monthly Investment Interest Process to correctly handle accounts imported from IBS where some EOM accounts don't actually have interest credit at the end of the month.
  • Modified Commission Report to show Loan Balance & Interest Rate as at Period End Date
  • New HistoricBalanceAtMaturity keyword for form letters
  • Modified Setup / Parameters to use a separate numbering range when generating investment account#'s

Tango32 Version 3.94 Released

Loans

  • Modified Statement Fee charging option to use the DR GL Account from the Business Code of the loan being charged if the subledger for the fee does not have a DR GL Account.
  • New option on Business Codes to charge ODI as a debit, and to specify a related subledger.
  • New option on Delinquency Reporting System to specify a filter used to calculate totals used as a basis for percentages in the footer of the report.
  • New facility to add Loan Assets via XML from an external system such as Phoenix.
  • New facility to specify up to 5 related clients when adding a new Loan via XML from an external system such as Phoenix.
  • Improved accuracy of projections on the P&I Reduction Report, and Projected Net Balances  - especially when a repayment includes a recurring charge such as GST.
  • New "Payway" Export Format for Direct Debit and Credit Card transactions.


Investments

  • Fixed inaccuracy in interest calculations when rolling over an ROI investment account.
  • Fixed inaccuracy in interest projection report.
  • Fixed rounding error in IV Payout Quote