Hi Sander, We have 3 types of charges. 1) Purchase charges -> It will be applied on share purchases 2) Redeem charges -> It will be applied on share redeems 3) Account activation charges -> It will be collected on account activation. (May be we need to change the label in the community app)
See one example below Journal Entries: id account_id office_id currency_code transaction_id entry_date type_enum amount office_running_balance organization_running_balance share_transaction_id 192 36 1 USD SH19 12-12-2017 2 7 7 7 19 193 37 1 USD SH19 12-12-2017 1 5 5 5 19 194 39 1 USD SH19 12-12-2017 1 2 2 2 19 195 37 1 USD SH19 12-12-2017 2 5 0 0 19 196 38 1 USD SH19 12-12-2017 1 5 *5* 5 19 197 36 1 USD SH18 12-12-2017 2 4 *11* 11 18 198 39 1 USD SH18 12-12-2017 1 4 *6* 6 18 Account 36 Share Reference Account 37 Share Suspense Control Account 38 Share Equity Account 39 Income from Fees *Count* *Price($)* Shares Purchased 10 0.5 Purchase Charge (Flat) 2 Total 7 Activation Charge (Flat) 4 Total 11 Can you give bit more details which one is not matching please. Regards, Nazeer On Tue, Dec 12, 2017 at 5:09 PM, Sander van der Heyden < [email protected]> wrote: > Hi Nazeer, Santosh, > > When it comes to the charges bookings, we've seen that it is only booked > upon activation. That however creates a situation where your charges on > share accounts are not equal to the balance in your GL accounts which is > not only confusing to customers, but also technically incorrect. I would > therefore recommend to also only add the charge at time of activation, same > way it is done for savings accounts and other deposit products. This way > the system behaves consistently across products and it becomes easier to > document and explain to endusers. > > S > > > > Sander van der Heyden > > CTO Musoni Services > > > > > Mobile (NL): +31 (0)6 14239505 > Skype: s.vdheyden > Website: musonisystem.com > Follow us on Twitter! <https://twitter.com/musonimfi> > Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam, > The Netherlands > > On 12 December 2017 at 12:27, Nazeer Shaik < > [email protected]> wrote: > > > Hi Santosh, > > > > As discussed it is not adding duplicate journal entries. Once account is > > created, it is adding the journal entries for Share Reference, Share > > Suspense Control, Income from fees (if purchase charge is added). > > Once account is approved, Suspense amount will be moved to Share Equity. > So > > we are adding new journal entries. > > Once account is activated, the activation charge journal entries are > added. > > > > Please verify all possible scenarios provide detailed explanation to > > Andrew. If any issue is there, please update in the already created jira > > issue. > > > > Regards, > > Nazeer > > > > On Tue, Dec 12, 2017 at 10:02 AM, Santosh Math < > > [email protected]> wrote: > > > > > Hi Andreew, > > > > > > This issue exists and raised here: > > > > > > https://issues.apache.org/jira/browse/FINERACT-574 > > > > > > Let me know if I am missing something. > > > > > > Thanks > > > Santosh > > > On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu < > > > [email protected]> wrote: > > > > > > > Hi > > > > I have currently been playing around with creating of share > > > account. I > > > > have notice a behaviour which is not consistent with other parts of > the > > > > system in regards to bookings of journals. > > > > Is there any reason why bookings are made prior to a share account > been > > > > active ?. > > > > An Example is > > > > > > > > 1. When creating a share account with a share purchase charge of 2 > > > dollars > > > > and number of shares as 10. After creating the share account you will > > > > notice that bookings have already been made in the journals entry. > Even > > > > though the share account is not active yet > > > > > > > > 2. When you approve the share account above. You will again notice > > > bookings > > > > in the journal entry are made. Even though the share account is not > > > active > > > > yet. > > > > > > > > 3. I also notice when an activation share charge is attached to a > share > > > > account. When the share account is created there is a entry created > in > > > the > > > > "m_share_account_charge_paid_by" even though the charge is not > paid. > > In > > > > other parts of the system i.e. loans or savings this entry is only > > made > > > > when the charge is paid for or for savings this is made when the > > savings > > > > account is active. > > > > > > > > What is the reason for the prior bookings before the share account is > > > > active as this is very confusing. > > > > Can anybody explain why this is done so. > > > > > > > > kind regards > > > > Andrew > > > > > > > > > >
