The Calendar is used to define business, non-business hours and days.

Note, Business days mean Banking days, i.e. those days that the Bank is open.

finPOWER Connect allows you to define which days of the week are business days. This is used to prevent Direct Credits and Debits being posted on a non-business day. It can also affect the date Interest is charged and when payments become overdue.

The close of each business day for transaction processing can also be defined. This is used in the Payment and Close Account facilities and where the time of day is after the end of day time defined, the transaction will be dated (by default, but can be overridden) the next business day. The time entered is usually late-afternoon, prior to day's cash takings being taken to the bank, i.e. as cash payments received after this time are not lodged until the next business day.