How to update the Promises in Collections to Broken Promises

Summary:

Promises not updating to Broken in Dashboard after the grace date has passed

Content (required):

I am testing Broken Promises. I set the grace days in Collections Preferences to 0. I ran Update Collections summary data a number of times over a few days and it didnt update the Broken Promises Dashboard even though the grace days had passed. I then ran the Promises Reconciliation and the associated report and then ran Update Collections Summary again and only then did the Broken promises dashboard show the broken promises. Is the Promises Reconciliation a required step to get it to show in the dashboard ?