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 Version 3.90 Released


  • 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


  • 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


  • 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.

Tango32 Version 3.87 Released

Sumary of changes:The "Original Term" of a loan is now recorded for historical purposes.New option to add the "Days of Grace" when working out the arrears balance in ODI calculations.New "Discharge Date" and "Discharge Amount" on Loan Securities.Loan LVR calculations now include "Scheduled" LVR which is based on the scheduled (as opposed to current / net) balance of the loan.New logic to allow the calculation for new repayment amounts to be based on the Scheduled (as opposed to current / net) balance when drawing down additional funds from a loan.New function to update the diary reminders when a drawdown affects the repayment amount of a loan.Fixed bug with Loans that move into Inertia which created multiple schedule entries the first time the account moved into inertia.Fixed bug where subledgers that were supposed to be charged in advance were not being charged when a loan activated.New option in Setup / Parameters which forces recreation of "chg" entries from Special Charges when repairing accounts.Fixed bug which incorrectly allocated payments against special charges when the account was past its maturity date.Tightened data validation to ensure an interest rate change date does not occur prior to a "Defer Interest Until" date for deferred interest accounts.

Version 3.86 Released


  • New facility to exclude special charges when generating direct debits.  To enable this, go into Setup / Business Codes, and tick the box "Direct Debits Exclude Special Charges".  If this option is set at the business code level, it can be disabled for individual loans on the repayment schedule screen by ticking the box "Direct Debits include special charges".
  • New facility to exclude Residual Values from inertia processing.  To enable this, go into Setup / Business Codes and tick the box "Exclude RV from Inertia".  You can also set an option which will only let Payout Transactions be allocated against the Residual Value in the repayment schedule.  Normal payments will then not be allocated to the RV.  To enable this option tick the box "Only allocate Payouts to RV".
  • New facility in subledgers to charge a subledger in advance.  To enable this, go into Setup / Subledgers and tick the box "Charge In ADvance".  When ticked, any monthly subledgers will be charged when a loan activates, and then on the day following an end of month interest run.
  • There is now a new report format "11" for the Delinquency System.
  • Drawdowns - fixed bug which reactivated loans incorrectly when a drawdown was posted to the account.
  • ODI - fixed bug which calculated incorrect ODI amount when the system was set to calculate arrears from the day after the due date.
  • Arrears Calculations - fixed bug which incorrectly included fee payments in advance twice when the account was paid in advance.
  • Current / Non-Current Report - fixed bug which showed incorrect calculations when the net balance exceeded the gross balance.
  • Principal and Interest Report - fixed bug which showed incorrect balances for an account with drawdowns.
  • New fields "Risk Grade" and "Risk Rating" are now available on the Clients form.
  • A new optional request / complaint handling module is available which links into the Diary Information on a loan.
  • Introducer Analysis Report - when subtotalling by Classification, now shows Classification Description instead of Classification ID.
  • Insurance Premium Renewal Report now shows individual loan securities rather than one entry per loan.  It also shows Title Reference instead of Security Description.
  • Variable Rate Loans have a new repayment calculation method.  When the interest rate changes, the new repayment can optionally be calculated based on the Scheduled (instead of Actual) net balance.
  • Hybrid and Interest Only Loans now show the interest only expiry date.  This date can be used as the selection criteria for creating bulk form letters.
  • Customer Statements now have a new option to only consolidate payments and special charge payments generated from the same transaction - which effectively hides the splitting of repayments against special charges on the statement.
  • Special Charges - Fixed bug when allocating "Current Month" due amounts before fee balances.  Previosuly if the account was due on the first day of the month, the system would mistakenly allocate Next Month as well.
  • Interest Calculations for Anniversary Day Accounts.  Fixed calculation error on anniversary day accounts when the due date in the month occurred on a day that didn't exist in the previous month (e.g. calculating interest on 30 March when interest last month was calculated on 27 Feb).
  • Loan Securities now show a "Scheduled LVR" as well as "Original" and "Current".

Investments / Other Accounts

  • New option in Transaction Types to specify whether a particular transaction includes GST for use on RCT Invoices.