Reconciliation Errors
If you have problem reconciling your loan and mortgage statements with the estimates provided by Home Loan Interest Manager, then the following check list may help.
Balance Checker Report
- Check that all statement transactions are available and have been entered.
- Check you have entered the transactions in the same order as they appear on the statements.
- Check that you haven't accidentally entered a negative amount as a positive amount, or a positive amount as a negative amount.
Interest Checker Report
- Check the balances are correct (see above).
- Check that the Days in Year value on the account is correct (Most common values are 365 and 360).
- Check that all interest rates have been entered, they have the correct Start Date and they are for the correct interest rate value.
- Check that the interest period for each interest transaction is correct. Change the Date Calculated Up To on the interest transaction if necessary.
- Check that each interest transaction has been allocated to an INTEREST category.
- Check that no other transaction has been allocated to the INTEREST category.
- Check that you have entered all your statements.
- Check that it is not a rounding issue. Refer to Rounding Errors for more infromation