rogerbu
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Post by rogerbu on May 11, 2016 10:25:08 GMT
Being an 'anorak' I track and reconcile Income and Balance on all the platforms I use. Most are usually correct, but AC is the most problematic.
Not for the first time, yesterday my AC 'total Investment' didn't match my reconciliation by a small +ve amount, after an hour of fruitless hunting I decided to give up but recorded the AC figures and see what happens.
Today, with no transactions overnight (repayments, deposits, withdrawals etc). The AC Total Investment now matches my reconciliation figure for yesterday and today. ie. it has changed.
Although the error was small (low £) I am concerned that a site that works to 14 decimal places can have unexplained errors and movements.
This is the first time I have proved that AC is changing my 'Total Investment' amount with no apparent underlying transaction, I was pretty sure that it has occurred in the past.
Anyone else seen this happening? or has any explanation?
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SteveT
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Post by SteveT on May 11, 2016 10:31:26 GMT
I've occasionally noticed something similar but it usually sorts itself out in a few hours and reverts to right number. I guess it's some sort of background process that's hung up or taking a while to work through. I'm long used to much the same happening on FC (much more regularly) and always leave any apparent discrepancy for a day or so to see if it's "real" or just a temporary blip.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on May 11, 2016 10:36:11 GMT
I have mentioned this b4 several times. The reason is 'cos sometimes the figure shows only 2 dec. points and as all holdings are rounded down hence the difference. If the figure shows more than 2dp's you should find the total correct.
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mikeb
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Post by mikeb on May 11, 2016 17:34:53 GMT
I'm sure it's nothing to do with how many DPs, or rounding. This happens every day, if you catch it at the right times ... there is some pair of processes that are not entirely aligned,and when the second one catches up, it all balances again.
If I look at my account totals, and record them, early morning -- they will always be slightly different later in the day. Without any transactions having happened.
If there are transactions, then it's changed by the amount of the transactions (+/-) the creepage.
No money is lost or gained, other than temporarily, because next day the same repeats.
File it under "just another display issue".
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Post by brianac on May 12, 2016 7:36:00 GMT
I've quite often noticed that my "total investment" actually drops between the moring and the afternoon/evening, sometimes by a few pence and on one accasion more than a pound, seriously not a "rounding error". I have tried working it out, but with all the micro transactions to sift through it always beats me.
Am presently considering what other strategy may reveal the source of this.
Brian
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Post by Butch Cassidy on May 12, 2016 8:33:27 GMT
Although this is not something that bothers me personally it maybe explained due to amortising loan repayments; #211 is an example where both interest & capital repayments were credited to my cash balance but my outstanding holding remained the same, obviously it should have dropped by the repaid principal amount - I queried it via Q&A & later in the day it had resolved & the answer was that their data agreed & I should have taken a screenshot. I have better things to do than check AC's reconciliation process's but whether it auto corrected or ran at different times deliberately or was corrected after my Q&A prompt I don't know but it would definitely explain the discrepancy that you noted.
It is becoming harder & harder to follow how AC reconcile these things as they often hide behind "we give borrowers 7 days grace" which is something I support as flexibility for borrowers is important but I have several who pay on time (virtually every month) so when they are late I often query it, as it can be an early warning sign of financial stress, & without fail payment is then forthcoming, leading me to assume that the money actually arrived with AC on the due date but was not distributed to lenders in a timely & efficient manner (someone forgot, was out of the office, didn't check). Whilst this is a very minor frustration I have asked for clarification & had my q's deleted as "inappropriate" which just further confirms my suspicions as to where the problem occurred. I do not believe anything underhand is at work just sloppy & inefficient procedures & as always cock up over conspiracy until proven otherwise.
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Post by Come_on_Grandad on May 12, 2016 8:43:07 GMT
I've quite often noticed that my "total investment" actually drops between the moring and the afternoon/evening, sometimes by a few pence and on one accasion more than a pound, seriously not a "rounding error". I have tried working it out, but with all the micro transactions to sift through it always beats me. Am presently considering what other strategy may reveal the source of this. Brian This is indeed a rounding error. The MLIA dashboard "Currently Invested" displays a cached number. There must be one rogue process that calculates this number as the sum of rounded holdings, whereas other processes do it correctly ... they round the sum of unrounded holdings. I can't remember whether Chris said that he knew about this or that he suspected this ... either way it has dropped to the bottom of his priorities and, to be fair, once you realise that is what is happening it is only a slight concern. Nice to get fixed, though. What is alarming is when your holding in one loan or another gets changed without a corresponding transaction ... and here we rely on skippyonspeed who doesn't miss a trick. Edit: and ianj
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warn
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Post by warn on May 12, 2016 8:48:20 GMT
File it under "just another display issue". Too late -- I've already filed it under "Yet another freaking display issue which dents total confidence that all important parts of the system are operating flawlessly" 
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on May 12, 2016 9:19:56 GMT
I'm sure it's nothing to do with how many DPs, or rounding. This happens every day, if you catch it at the right times ... there is some pair of processes that are not entirely aligned,and when the second one catches up, it all balances again. I assure you it is, if you hover over the display, sometimes you will see just the 2 DP's followed by several zero's, this is when the rounding down of each loan contributes to the total error.
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iren
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Post by iren on May 12, 2016 21:15:46 GMT
Although this is not something that bothers me personally it maybe explained due to amortising loan repayments; #211 is an example where both interest & capital repayments were credited to my cash balance but my outstanding holding remained the same, obviously it should have dropped by the repaid principal amount - I queried it via Q&A & later in the day it had resolved & the answer was that their data agreed & I should have taken a screenshot. I have better things to do than check AC's reconciliation process's but whether it auto corrected or ran at different times deliberately or was corrected after my Q&A prompt I don't know but it would definitely explain the discrepancy that you noted.
It is becoming harder & harder to follow how AC reconcile these things as they often hide behind "we give borrowers 7 days grace" which is something I support as flexibility for borrowers is important but I have several who pay on time (virtually every month) so when they are late I often query it, as it can be an early warning sign of financial stress, & without fail payment is then forthcoming, leading me to assume that the money actually arrived with AC on the due date but was not distributed to lenders in a timely & efficient manner (someone forgot, was out of the office, didn't check). Whilst this is a very minor frustration I have asked for clarification & had my q's deleted as "inappropriate" which just further confirms my suspicions as to where the problem occurred. I do not believe anything underhand is at work just sloppy & inefficient procedures & as always cock up over conspiracy until proven otherwise. I had the same issue with 211, and emailed AC as it's something I'd not seen before. I got a reply the next day saying my holding in the loan displayed correctly at their end and requesting a screenshot, but by that time the issue was resolved. It does appear clear that other payments are not always credited upon receipt. On loan 206, a payment was due on 2nd May. It was credited late on 8th May, a Sunday: I can't think of any way the payment could have been received on that day, so I take it that it was received earlier and forgotten about, or that a technical issue had to be resolved.
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bababill
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Post by bababill on May 13, 2016 4:37:24 GMT
These tiny rounding errors (or whatever they are) sound very trivial and unimportant.
However it is for this reason I am unwilling to lend under my Ltd company.
If small errors are made my accountant will pick up the differences year end and query the same.
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SteveT
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Post by SteveT on May 13, 2016 6:10:18 GMT
AC always balances exactly (to the penny) when I do my month end company accounts, as does MT, FS and SS. FC does too, provided there are no unresolved failed transactions. ABL and LC both require minor adjustments for rounding / display errors. ReBS always has a dashboard discrepancy of a few pounds, which it seems unable to resolve.
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bababill
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Post by bababill on May 13, 2016 6:27:30 GMT
For year end accounts 2015 both my accountant and I could not get Funding Circle, Lendinvest and Proplend to balance. (We were able to get Thincats and Ratesetter to balance.) Perhaps, I wrongly assumed Assetz would fall in the prior camp.
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min
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Post by min on May 13, 2016 6:36:04 GMT
Even Failed Calculations can't get my account to balance. They 'gave' me £20 a few months back because my account was £20 out and they were unable to 'account' for it. It's now about £3 out but 'hey, what's a couple of quid between friends'?
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