Many banks still have a cut-off during the day to process transactions and many customers like to wait until the end of the month to make payments. If a customer makes a mortgage payment after the cut-off time on 12/30/11 or on Saturday 12/31/11, can the customer demand that the bank file a corrected 1098-INT because the payment was received prior to 1/1/12?
You are required to post those kind of payments on the date of receipt. You will need to be sure your system can handle that. You may have to make an manual adjustment before the 1098 forms are produced.