Schedule Day Options are not correct or are incomplete.
Current 'Schedule Day' limits value between 1 and 28 for any and all frequency applied. The expected result for schedule day for the respective frequencies should be as below:
1. Monthly- 1-28
2. Quarterly- 1-120
3. Half Yearly- 1- 180
4. Yearly 1- 365
5. One time- None
Multiple reasons to justify for above.
1. If a payment in arrears (at a later date) has to be done for a lease with frequency other than 'Month', then there is no workaround other than create manual one time lines for every quarter/Half yearly/annually till the end of the lease. Eg- a lease which start on 01-Jan-2019 and ends in 31-Dec-2022, annual payment has to be done at the end of year, say on 31st-December- how do i process the term to generate correct payment schedule? The current way would be to create 'One- time' frequency terms with payment term as exactly on the date