August 2024 Change Record
New features
The following table lists the new features added to Q2 Loan Servicing User Guide for Simple Loans for the August 2024 release:
| Serial Number | Feature | Link to the section |
|---|---|---|
| 1 | Amortization Schedule Storage Optimization |
Following new sections have been added: |
Enhancements
The following table lists the new enhancements made to the existing features in the Q2 Loan Servicing User Guide for Simple Loans for the August 2024 release:
| Serial Number | Enhancement | Link to the section |
|---|---|---|
| 1 | A new field named Additional Interest Paid has been added in the contract page to include the additional interest amount within the Total Amount Paid. | |
| 2 | You cannot create a charge when a loan is closed. | Create a fee or charge |
| 3 | LAD will not update the parent Master Facility loan if it does not have Additional Interest Component in it for payments for a revolving parent loan, disbursements, and principal adjustments in the child loan. |
The required content has been updated in the following section: |
| 4 | Payment mode for Closure-Tolerance and Rebate LPTs now use Internal Transfer to differentiate from other LPTs |
The required content has been updated in the following sections: |
| 5 | EMI amounts can now be generated based on the varying interest rates defined in the Interest Rate Schedule |
A new section is created as follows: Following sections have been updated accordingly:
|
| 6. | Enhancement made in the Spring'23 (4.2008.64) patch |
Following section have been updated accordingly: |
| 7. | Enhancements made to adjustment entry (Interest Adjustment) calculations as a part of December 2023 (4.4001.59) patch |
Following section have been updated accordingly: |