Expert1 News

News relating to Expert1's Products and Services

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Tango32 Version 3.93 Released

15 November 2011

Investments

Fixed interest balance projection for accounts where interest is paid to investor when due.

Fix interest projection report when account starts on the last day of an interest period

Modified payout quote on investments where interest is paid to investor rather than being capitalized.  The interest credit and interest payment now both show on the payout quote.

Loans

Prevent changes to the "Outstanding Balance" field on the "Change Schedule" form.

Modified Statement Fee logic to use GL Debit from Business Code if one is not supplied on the subledger.

Added a "Do not solicit" flag to clients which can be referenced when generating form letters.

Modified system to store the Interest Only term for each hybrid loan rather than extracting this info generically from the Business Code.  (This allows hybrid loans in the same business code to have different Interest Only terms.

New facility to display Projected Loan Balance based on History to date as well as Projected balance based on Schedule only.

Added a new "Subledger Type" table which allows classification of Subledgers for use in reporting.

New "Commission Statement" report to display upfront and trailing commissions for each loan per Introducer.

Fixed bug in recalculating repayments for Interest Only loans.

Modified "Days In Arrears" calculation to include penalty fees.

New calculation methods to specify how repayments should be calculated when the interest rate changes on a loan.

New logic to Lock the Repayment Schedule of Active Loans, but still allow changes via the "Change Schedule" form.

Changed logic on Interest only loans where the repayment schedule must be updated to match interest charges:  This will now happen even when the repayment schedule on the account is locked.

Loans - Diary Reminders / Tasks

A new facility to tick a diary reminder so that it will appear in a new "Task List".
New options under the client menu to display "My Tasks" and "All Tasks".

Loan Repayment Schedules

Fix bug with due dates for loans that have interest charged on their Anniversary Day when the loan settles on the 30th of the month.

Loan Repayment Calculations

Improve accuracy of repayment calculations for large principal amounts (> $1m)

Loan Interest Calculations

Fix bug recalculating backdated interest when ODI was charged last interest run and it affects the balance
Ensure backdating transactions prior to first interest run generates an adjustment if required


Loan Receipt Allocation Report

Improve accuracy of allocation when account is paid ahead but still in arrears due to fees

Loan Delinquency Reports

New "Disable" flag to hide old reports from being displayed.
New format 12 delinquency report.
Fixed bug which didn't show totals on some reports.

Investment Interest Calculations

When an investment is paid interest in frequencies other than monthly, ensure investment interest compounds on the last day of the period.

Investment Payouts

Investment Payouts now include balances from related sub-accounts.
Improve accuracy of payout quote of a sub account when the parent account is complete
Added validity check to ensure rollover transactions can't predate the target investment.

Loan Repayments - Variable Rate

Fix bug when trying to change repayment schedules one month after settlement.

Loan Subledgers

Fix bug which caused excessive transactions when the same subledger is added to a loan more than once.
Fix bug which duplicated subledgers when browsing backwards and forwards between loans then clicking on the subledger tab.







Tango32 Version 3.91 Released

Loans- Business Codes

A new option to specify the number of days after a rate change / interest run to schedule a new repayment calculation when the rate changes.  You now have the ability to specify a different number of days for the interest-only and principal portions of a hybrid loan. 

A new option to preserve any unpaid / overdue entries in the repayment schedule when changing the schedule.

A new option to charge all fees as "D" (Debit) transactions instead of "2" (Special Charge) transactions, and to have those debits affect the arrears balance of the loan. 

The arrears details form will now also show outstanding fee balance for any debit fees applied to a loan.

Loans - ODI

Improved the accuracy of Overdue Interest Calculations on accounts where interest is charged on the Anniversary Day where days of grace are specified.

* Loans - Repair Schedule

Fixed Infinite Lopp Bug, and incorrect allocation of special charges when repairing the schedule of a Line-of-Credit loan.

Completed Loans Report

Improved accuracy of report to ensure reversals of paid-in-full accounts net out the outstanding special charge balance on an account.

Loans - Principal / Interest & Projected Balance

Improved the accuracy of the Principal / Interest Report, and Projected Balance estimates for Interest Only accounts.

Fixed bug which did not take drawdowns into account when calculating a projected net balance.

Loans - Variable Rate / Drawdown

Improved the accuracy of repayment re-calculations when varying the rate or applying drawdowns to a loan.

Loans - Receipt Allocation Report

Improved the speed and accuracy of the receipt allocation report.

Loans - Extended direct debits

Fixed a bug when extending direct debits on accounts past their due-to-complete date, to ensure payments due on the day of the interest run are properly included

Loans - Mortgage Security

Add Unit / Lot Number to a security item.

Loans - Repayment Calculations

Improved accuracy of repayment calculations for large (> $1m) loans.

Loans - Transaction Entry

A new facility in Setup / Parameters / Loan-2 to restrict the transaction types allowed when manually entering transactions.

Investments

Improved Accuracy of projected interest charges on the Interest Schedule report.

Fixed bug on projected balance calculation which ignored transactions on the account dated after the last interest run.

Improved accuracy of Investment Payout Quote to match projected balance.

Tango32 Version 3.90 Released

Loans

  • Fix bug with interest rebates not appearing on payout quotes for accounts that had not yet been through an interest run.
  • Improved the accuracy of the "Change Schedule" option for accounts that are already active.
  • New "RepaymentFrequency" parameter when using the API to create new loans.
  • Fixed "Ambiguous column TransactionDate" error on the Receipt Allocation Report

Tango32 Version 3.89 Released

Loans

  • New option on subledgers "Include On Receipt Allocation Report" which will treat any transactions for this subledger as Holdback Income on the receipt allocation report.
  • Fixed bug when creating interest only repayment schedules to improve the accuracy of repayment amounts based on the number of days in a month.
  • Fixed inaccuracies in the "Projected Balance" fields on the loan form.
  • Fixed inaccuracies in ODI calculations which were based on the number of days in arrears.
  • Fixed inaccuracies in interest-only calculations on accounts where interest was charged on the anniversary day of the loan.
  • Fixed GL journal inaccuracy when posting a bad debt transaction on a flat cancellation.
  • When posting flat cancellations, prevent "Early Payout Fee" from being charged.
  • Modified Loan Summary Report to optionally include "Security Category".
  • New Report: Fee Reconcilliation Report (Report/ Transactions / Fee Reconcilliation)


Tango32 Version 3.88 Released

Loans

  • New bank transaction import format "PayWay".
  • New fields on Loan form show projected net balance inclusive and exclusive of current months interest.
  • New options on Business code to calculate new repayment amounts after drawdowns and rate variations based on Projected Net Balance Inclusive and Exclusive of current month interest.
  • The Loan Summary Report now has an option to include both ODI and Special charges on the report.
  • Fixed bug in Transaction Audit Report which mistakenly included reversals of special charges in the "Reversals" section instead of the "Special Charges" section.