December 16, 2010
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.