oldgrumpy
Member of DD Central
Posts: 5,087 
Likes: 3,233
|
Post by oldgrumpy on Dec 2, 2014 20:54:25 GMT
...."However, system(ic) problems, that apply to all users, all loans (or all owners of loan X since date Y) should be fixed for all users, whether they've noticed or not. I wouldn't be comfortable with the idea that only the small percentage of customers that noticed got things corrected." ....This also worries me, as I have said a few times in the last month. Fluctuations in various interest credits into accounts are a big concern. When will I know mine are correct? I will regain confidence in the integrity of my account when andrewholgate or chris or stuartassetzcapital state emphatically on this forum or by email from AC that all these systematic anomalies have been ironed out and applied to all investors' accounts, which are certified blemish-free. I now don't expect this tomorrow, or in the short term, or until Chris has finished doing it, but would think by the first week in January would be fair. To take longer than this would, in my opinion, be tacet admittance by AC that this aspect of their system has been a failure. edit: I wonder what the BIG GUNS think..... you know ...the underwriters, who presumably are expected by AC to bankroll the push to Andrew's £100M lent.
|
|
|
|
Post by Jack Barlow on Dec 2, 2014 21:50:37 GMT
Any chance of continuing the discussions in another thread and reserving this thread for the changelog reports from AC?
|
|
|
|
Post by chris on Dec 2, 2014 21:53:43 GMT
I am unfortunately coming to the conclusion that change management is already close to coming apart. My reason for this thinking is that many of the so called fixes appear to be being made on an individual account basis. So what is happening to those individuals who haven't got the knowhow to realise their accounts are in the same mess? Are they just being left in a mess or what? Where a problem has caused an error on an individual account, I see no problem with fixing that one account to correct something. However, system(ic) problems, that apply to all users, all loans (or all owners of loan X since date Y) should be fixed for all users, whether they've noticed or not. I wouldn't be comfortable with the idea that only the small percentage of customers that noticed got things corrected. I've said elsewhere, surely it's much harder to just patch accounts to "appear correct" than it is to find and fix the underlying problem for all. That would be a regulatory nightmare waiting to happen. All systemic issues have, or will be, fixed for all accounts. We have never applied fixes to one account when we know others to be incorrect.
|
|
|
|
Post by andrewholgate on Dec 3, 2014 12:09:57 GMT
...."However, system(ic) problems, that apply to all users, all loans (or all owners of loan X since date Y) should be fixed for all users, whether they've noticed or not. I wouldn't be comfortable with the idea that only the small percentage of customers that noticed got things corrected." ....This also worries me, as I have said a few times in the last month. Fluctuations in various interest credits into accounts are a big concern. When will I know mine are correct? I will regain confidence in the integrity of my account when andrewholgate or chris or stuartassetzcapital state emphatically on this forum or by email from AC that all these systematic anomalies have been ironed out and applied to all investors' accounts, which are certified blemish-free. I now don't expect this tomorrow, or in the short term, or until Chris has finished doing it, but would think by the first week in January would be fair. To take longer than this would, in my opinion, be tacet admittance by AC that this aspect of their system has been a failure. edit: I wonder what the BIG GUNS think..... you know ...the underwriters, who presumably are expected by AC to bankroll the push to Andrew's £100M lent. We are aware of the problems and as chris said we are working towards resolving them ASAP.
|
|
|
|
Post by batchoy on Dec 3, 2014 17:52:48 GMT
A new release went live this afternoon with the following changes: - When a withdrawal amount is set or an investment account is set to withdraw principal or interest amounts payments are now first credited to the relevant investment account and then withdrawn to the cash account via a separate transaction, rather than simply being credited directly to the cash account.
- Loans added within the last seven days will have a "New" badge in loan lists.
Looking at my statements I note that the change to the statements appears not to be retrospective, do AC plan to sort out the transactions for the period between the upgrade and this change or will it be the case that we have to live with MLIA and GEIA statements with missing transactions and a CA statement which has transactions that cannot be matched to accounts that they should have occurred in and thus will need to be explained to accountants and anyone else who may require the statements such as the HMRC Well we appear to have half a fix, whilst my GEIA is reporting correctly with sales appearing in the GEIA statement and the resultant transfer appearing in both the GEIA statements, this is not the case for the MLAI where interest payments are still appearing directly in my CA Statment rather than appearing first in the MLIA statement and then as transfers in both the MLIA and CA statements
|
|
|
|
Post by chris on Dec 3, 2014 18:07:42 GMT
Looking at my statements I note that the change to the statements appears not to be retrospective, do AC plan to sort out the transactions for the period between the upgrade and this change or will it be the case that we have to live with MLIA and GEIA statements with missing transactions and a CA statement which has transactions that cannot be matched to accounts that they should have occurred in and thus will need to be explained to accountants and anyone else who may require the statements such as the HMRC Well we appear to have half a fix, whilst my GEIA is reporting correctly with sales appearing in the GEIA statement and the resultant transfer appearing in both the GEIA statements, this is not the case for the MLAI where interest payments are still appearing directly in my CA Statment rather than appearing first in the MLIA statement and then as transfers in both the MLIA and CA statements That should also have been fixed. I've just double checked that the code has been deployed and will monitor the next repayment.
|
|
|
|
Post by batchoy on Dec 3, 2014 18:22:42 GMT
Well we appear to have half a fix, whilst my GEIA is reporting correctly with sales appearing in the GEIA statement and the resultant transfer appearing in both the GEIA statements, this is not the case for the MLAI where interest payments are still appearing directly in my CA Statment rather than appearing first in the MLIA statement and then as transfers in both the MLIA and CA statements That should also have been fixed. I've just double checked that the code has been deployed and will monitor the next repayment. Here is an extract from my CA statement for today the top three lines show MLIA interest payments which should have been transfers from the MLIA with corresponding entries and interest payment entries in the MLIA statment. My MLIA statement contains no entries for today. The fourth line is correct as it shows a transfer from my GEIA, the GEIA statement has a corresponding transfer transaction and a sales transaction, however whilst stated correctly the sales and transfer transactions are anomalous and result from an apparent bug in the GEIA which I have reported in the GEIA thread and by email to Mark. 
|
|
|
|
Post by chris on Dec 3, 2014 18:33:29 GMT
That should also have been fixed. I've just double checked that the code has been deployed and will monitor the next repayment. Here is an extract from my CA statement for today the top three lines show MLIA interest payments which should have been transfers from the MLIA with corresponding entries and interest payment entries in the MLIA statment. My MLIA statement contains no entries for today. The fourth line is correct as it shows a transfer from my GEIA, the GEIA statement has a corresponding transfer transaction and a sales transaction, however whilst stated correctly the sales and transfer transactions are anomalous and result from an apparent bug in the GEIA which I have reported in the GEIA thread and by email to Mark. Sorry didn't mean to say that I doubted you. I double checked that the code had been deployed (it had but the service hadn't restarted for it to take effect). If you're in Falmouth I just processed another interest payment which has gone through with the new code and I can see Inter Account transfers for several lenders. Also to answer your query elsewhere about this being retrospective - we currently have no plans, nor do we feel there is a need to, go back and edit your statements. There are many checks and controls in place that prevent us editing your statements that would require new code to either circumvent or disable, and we do not see the benefits of doing so. The other alternative would be to create new transactions that credit back old amounts and set up new transfers between accounts, but again we feel this would muddy the picture further and confuse lenders rather than aid them. We don't think HMRC will be interested in inter account transfers or how funds were moved, they'll only be interested in taxable payments. As such we do not think there is a retrospective change required for them. However if it will help we will be produce a consolidated statement that shows transactions across all your accounts as a single list which should aid with reconciliation.
|
|
mikeb
Posts: 1,072
Likes: 472
|
Post by mikeb on Dec 3, 2014 19:23:40 GMT
All systemic issues have, or will be, fixed for all accounts. We have never applied fixes to one account when we know others to be incorrect. Exactly what I hoped would be the case -- as I said, anything else would be wrong in so many ways! Thanks for confirming.
|
|
|
|
Post by Come_on_Grandad on Dec 3, 2014 20:11:09 GMT
Here is an extract from my CA statement for today the top three lines show MLIA interest payments which should have been transfers from the MLIA with corresponding entries and interest payment entries in the MLIA statment. My MLIA statement contains no entries for today. The fourth line is correct as it shows a transfer from my GEIA, the GEIA statement has a corresponding transfer transaction and a sales transaction, however whilst stated correctly the sales and transfer transactions are anomalous and result from an apparent bug in the GEIA which I have reported in the GEIA thread and by email to Mark. Sorry didn't mean to say that I doubted you. I double checked that the code had been deployed (it had but the service hadn't restarted for it to take effect). If you're in Falmouth I just processed another interest payment which has gone through with the new code and I can see Inter Account transfers for several lenders. I'm in Falmouth and in my MLIA statement I see the extra interest payment, at 18:14, which you refer to above and also I see a corresponding transfer to my cash account. In my cash account statement I see I have received funds from MLIA. The problem here is that my MLIA is set to "reinvest repayments" so the cash account transfer is unwanted in my case.
|
|
|
|
Post by chris on Dec 3, 2014 20:17:30 GMT
Sorry didn't mean to say that I doubted you. I double checked that the code had been deployed (it had but the service hadn't restarted for it to take effect). If you're in Falmouth I just processed another interest payment which has gone through with the new code and I can see Inter Account transfers for several lenders. I'm in Falmouth and in my MLIA statement I see the extra interest payment, at 18:14, which you refer to above and also I see a corresponding transfer to my cash account. In my cash account statement I see I have received funds from MLIA. The problem here is that my MLIA is set to "reinvest repayments" so the cash account transfer is unwanted in my case. Okay, will double check.
|
|
kermie
Member of DD Central
Posts: 691
Likes: 462
|
Post by kermie on Dec 3, 2014 20:30:39 GMT
chris, Come_on_Grandad - I see the same thing - a transfer of interest to my CA, even though I'm set up to re-invest repayments and interest.
|
|
|
|
Post by phlitb on Dec 3, 2014 20:35:10 GMT
I too had an unexpected and undesired transfer from my MLIA to my cash account. But I imagine I will survive the trauma of 5p of my money temporarily being in the wrong place
|
|
|
|
Post by Jack Barlow on Dec 3, 2014 22:18:09 GMT
... However if it will help we will be produce a consolidated statement that shows transactions across all your accounts as a single list which should aid with reconciliation. , I think the combination of a consolidated statement and the individual account statements should manage to keep everyone happy.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Dec 3, 2014 22:31:27 GMT
I too had an unexpected and undesired transfer from my MLIA to my cash account. But I imagine I will survive the trauma of 5p of my money temporarily being in the wrong place Only 5p? Pauper! I will never understand an accounting system which says £0.11 is the amount sent to my cash account when hovering over it in the same MLIA account makes it perfectly clear that the correct amount is £0.12230434782608695823, and that is entered as £0.12 on my cash account, or £0.12230434782608695823 if I bovver2hover. I won't wake Chris up tonight to look into it. 
|
|
