Sander,
As far as I know according to the designs that the community had moved
forward with implementing it was going to be based on the following whereby
dividends would be calculated based on average share balances held by
members on date of record for the dividend:
Whereby the average share balance is calculated by the balance between the
two dates selected when initiating the dividend?
Is this not the desired behavior? If so, what is the desired behavior you'd
like to see in terms of calculation of the dividend - it would be good if
we could fully document this (the spec we have on the wiki isn't too
detailed unfortunately.).
Clearly in this case though, Robert has found a bug whereby dividends are
being allocated to an individual whose share account is still pending
approval.
Thanks Robert for creating the JIRA ticket, we'll try to get it resolved
promptly!
-
Calculate Dividends for Each Shareholder
-
Dividends must calculated based on average share account balances
held by shareholders as of the date of record for the dividend:
-
The dividend calculation will be based on the following
configurations which may be captured and stored for each
period for which
calculations are to be done.
-
Calculate Dividend for members who are no longer active
(True/False)
-
Minimum active period (in days/weeks/months) for member to be
eligible for dividend (Numeric + period type)
-
Amount to be distributed or percentage of profits to be distributed
-
Dividend to be calculated based on (Daily balances, monthly
balances etc)
-
Balance to be considered between (Two dates)
On Tue, Mar 27, 2018 at 12:01 AM, Ippez Robert <[email protected]>
wrote:
> @Santosh and all
> I have created a Jira ticket at https://issues.apache.org/
> jira/browse/FINERACT-608 for this.
>
> @Sander, In our setting in SACCOs, dividend calculation is based on the
> whether the account is created within financial year and below or not.
>
> Example, If we are calculating dividend for 2017, we get the total shares
> at the organisation since inception of the organisation e.g if the
> organisation started in 2003, we shall get total shares from 2003 upto 31st
> Dec 2017. Say its 360 shares.
>
> Then if the approved dividend to be given to members is 720,000, we then
> get how much each share will get i.e 720,000/360 = *2,000*
> Now that we know each share gets 2,000, this will be the multiplying
> factor for each members total share.
>
> Eg.
> *Client Name Total Shares Dividend*
> Client 1 1
> 2,000
> Client 2 5
> 10,000
> Client 3 10
> 20,000
> ....... etc
>
> *TOTAL 360
> 720,000*
>
> Total amount given to clients should be equal to approved dividend.
>
> I think this is the logic in shares and dividend especially in SACCO
> operation and i think its the same
>
> Thanks
> Regards
> Ippez Robert
>
>
>
>
>
>
> On Tue, Mar 27, 2018 at 9:11 AM, Sander van der Heyden <
> [email protected]> wrote:
>
>> Just quickly chipping in with a thought: is this not related to the fact
>> that dividend calculation is done depending on how long the shares were
>> held during the period? I've seen this as well in the past and find this
>> also undesired behaviour, and not sure why it was designed this way.
>>
>> @Ed when you were working on the design together with Dayna, do you know
>> why this was done like this?
>>
>>
>>
>>
>> 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: Papiermolen 10, 3994DK Houten, Netherlands
>>
>> On 27 March 2018 at 08:09, Santosh Math <[email protected]>
>> wrote:
>>
>>> Yes Robert, I can see in the case of Amatura Women's Group. Did you raise
>>> the ticket related to this?
>>>
>>> On Tue, Mar 27, 2018 at 11:12 AM, Ippez Robert <[email protected]>
>>> wrote:
>>>
>>> > Hi Santosh,
>>> > I think it just skipped my mind that *posting of Dividend* is done by
>>> *Scheduler
>>> > Job*. I was just posting my response to that then i saw your response.
>>> >
>>> > But the major issue here left is the dividend allocation as described
>>> (by
>>> > me) early, this is very critical. @Santosh, Were you able to
>>> reproduce the
>>> > same at your ends?.
>>> >
>>> > This has halted our posting because if we continue, wrong values will
>>> be
>>> > posted to clients savings account as dividend when job scheduler is
>>> run. We
>>> > can not proceed with dividend posting unless this is solved for us, yet
>>> > members are demanding their dividend for last year since it just
>>> remains
>>> > posting after its been approved by AGM.
>>> >
>>> > If possible to solve such problem, upload (import dividend) from excel
>>> > template can be enhanced as part of the data import tool integration,
>>> it
>>> > will also serve better as we shall feed in exact amount as calculated
>>> > manually.
>>> > We can have both options; system distribution or importing dividend
>>> from
>>> > data import module, but urgently we would appreciate the wrong
>>> calculation
>>> > patches and then then extension of import dividend can be done
>>> > by Kumaranath Fernando (copied in).
>>> >
>>> > Thanks
>>> > Regards
>>> > Ippez Robert
>>> >
>>> >
>>>
>>>
>>>
>>> --
>>> Thanks & Regards
>>>
>>> Santosh Math
>>>
>>> *QA Engineer*
>>>
>>> *Conflux Technologies Pvt Ltd <http://www.confluxtechnologies.com/>*
>>> | *Office*: +91-080-41208662 |
>>>
>>> *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block,
>>> Bengaluru, Karnataka, 560043 INDIA
>>>
>>
>>
>
>
> --
> Ippez Roberts
> Founder/C.E.O - Swift3 Technologies (U) Ltd
> "Redefining Next Generation I/O Systems"
> P.O.Box 155, Moyo
> UGANDA.
> Tel: +256788725408 <+256%20788%20725408>/770602630
> Skype ID: ippez.robert1
> Email: [email protected]
>
--
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