Let's also move this thread over to the Fineract developer mailing list and continue discussion about fixing the regression there.
---------- Forwarded message ---------- From: Ed Cable <edca...@mifos.org <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBZWRjYWJsZSU0MG1pZm9zLm9yZw==> > Date: Tue, Mar 1, 2016 at 8:45 AM Subject: Re: [Mifos-users] Explanation about Interest Calculation To: "A good place to start for users or folks new to Mifos." < mifos-us...@lists.sourceforge.net <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBbWlmb3MtdXNlcnMlNDBsaXN0cy5zb3VyY2Vmb3JnZS5uZXQ=> > Cc: Mifos Users <mifosus...@googlegroups.com <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBbWlmb3N1c2VycyU0MGdvb2dsZWdyb3Vwcy5jb20=> > George/Sander, Thank you for catching this and Adi thanks for getting the team mobilized to address it promptly. George, you can create your issue here: https://issues.apache.org/jira/browse/FINERACT <https://web.chilipiper.com/link/mifos.org/56d5c712e4b02bbec5bbcf9f?link=aHR0cHMlM0ElMkYlMkZpc3N1ZXMuYXBhY2hlLm9yZyUyRmppcmElMkZicm93c2UlMkZGSU5FUkFDVA==> Ed On Tue, Mar 1, 2016 at 12:44 AM, Adi Raju <adi.r...@confluxtechnologies.com <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBYWRpLnJhanUlNDBjb25mbHV4dGVjaG5vbG9naWVzLmNvbQ==> > wrote: > Hi Sander, > > > > This looks like a unintentional regression from the change. > > We need to fix this. > > > > George, > > Can you please raise a JIRA issue on FINERACT? > > > > Regards, > > Adi > > > > *From:* Sander van der Heyden [mailto:sandervanderhey...@musoni.eu > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBc2FuZGVydmFuZGVyaGV5ZGVuJTQwbXVzb25pLmV1>] > > *Sent:* 01 March 2016 13:16 > *To:* A good place to start for users or folks new to Mifos. < > mifos-us...@lists.sourceforge.net > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBbWlmb3MtdXNlcnMlNDBsaXN0cy5zb3VyY2Vmb3JnZS5uZXQ=> > > > *Cc:* Mifos Users <mifosus...@googlegroups.com > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBbWlmb3N1c2VycyU0MGdvb2dsZWdyb3Vwcy5jb20=> > > > *Subject:* Re: [Mifos-users] Explanation about Interest Calculation > > > > Hi Subramanya, George > > > > This is what was also discussed a while back when this rebuild was > introduced where we were assured then that it would not change for flat > loans. However testing this through from my end this looks like this is > still breaking existing functionality for upgrading users (we are currently > merging the latest branch and testing through stuff) > > > > Going over our old e-mails you indicated that we would have to use the > "Interest Charged From Date" Option for that, however doing that on > George's example product, and setting it to 1 mo before startdate, it does > not seem to have any effect at all. I've setup loan IL13000000219 with a > repay startdate of 14th of April and Interest calculated from 14th of March > which then gives exactly the same schedule as for Georges example on loan > 215. > > > > Is there any way simple setting which allows us to keep interest rates the > same as in the existing scenario, which is a fixed schedule loan (whether > declining or flat interest) with "Same as repayment Period" selected? > > > > Thanks, > > Sander > > > > Sander van der Heyden > > CTO Musoni Services > > > > Mobile (NL): +31 (0)6 14239505 > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=dGVsJTNBJTI1MkIzMSUyNTIwJTI1MjgwJTI1Mjk2JTI1MjAxNDIzOTUwNQ==> > Skype: s.vdheyden > Website: musonisystem.com > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=aHR0cCUzQSUyRiUyRm11c29uaXN5c3RlbS5jb20lMkY=> > Follow us on Twitter! > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=aHR0cHMlM0ElMkYlMkZ0d2l0dGVyLmNvbSUyRm11c29uaW1maQ==> > Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam, > The Netherlands > > > > On Tue, Mar 1, 2016 at 8:14 AM, Subramanya S N < > subrama...@confluxtechnologies.com > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBc3VicmFtYW55YSU0MGNvbmZsdXh0ZWNobm9sb2dpZXMuY29t>> > wrote: > > Hi Georges Lteif, > In the above scenarios interest calculation will go in this way, > You have selected Interest Calculation Period as Same as repayment, here > the interest calculation with respect to periods need to be considered. > Also Since first repayment date is defined by you because of that loan > term will vary in all 3 scenarios. > > Calculation, > Scenario 1: > 1. 01 March 2016 to 01 May 2017 = 14 > 2. Period is considered from 01 March 2016 to 01 May 2017, but here it is > 02 May 2017 = 1day/31(no. of days in May) = 0.03 > 3. Total periods = 14+0.03 = 14.03 > 4. Interest per year = 15.6% = 0.156 > 5. Total interest will be = 0.156* 14.03* 2000/12 = 364.838 = 365 > (rounding off) > > Similarly for the other 2 scenarios calculation will be similar to above. > The main reason why interest will change in each scenario is because of > first repayment date. because of that loan term get varied. Also Interest > Calculation Period as Same as repayment. > > > > > > On Tuesday, March 1, 2016 at 11:10:01 AM UTC+5:30, Georges Lteif wrote: > > Hello Vishwas > > all our loans are with flat interest > > i replicated the scenarios > > -found on mifos test server under client with my Name (George Mitri Lteif) > > loans IDS are > > IL13000000216 > IL13000000215 > > IL13000000214 > > > > *its like the interest changes whenever you change he first repayment date* > > > > > > On Tuesday, March 1, 2016 at 2:55:42 AM UTC+2, vishwa...@gmail.com > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBdmlzaHdhLi4uJTQwZ21haWwuY29t> > wrote: > > George , > > Could you please replicate the same on the demo servers and share the loan > ID's ? > > If you are using declining balance interest calculation, manually changing > the first scheduled repayment date would result in a corresponding > adjustment to the interest calculated over the duration of the loan > > Regards, > Vishwas > > > On Feb 29, 2016, at 5:24 AM, Georges Lteif <george...@almajmoua.org > <https://web.chilipiper.com/link/mifos.org/56d5c78ee4b02bbec5bbcfa1?link=bWFpbHRvJTNBZ2VvcmdlLi4uJTQwYWxtYWptb3VhLm9yZw==>> > wrote: > > > > Hello All > > i have been doing some tests on different calculations for the MifosX > interest > > > > what i have done is: > > create a product with a monthly interest of 1.3% > > Rounding mode if half up > > no decimals > > flat interest > > > > and created a loan of an amount of 2900$ over a term of 21 months / 21 > Payments/ 1 payment per month > > > > I used the first repayment date to try different scenarios and the weird > thing is that the total interest amount is changing each time i specify a > different 1st repayment day > > i added some screenshots for 3 scenarios to show how the last payment > interest is changing, where i used 3 different 1st repayment dates (mid > march) , 1st of april and 12th of april > > > > my question is why the total interest is changing according to the first > repayment day, shouldn't the total interest be calculated according the > capital and number of months regardless when the 1st repayment is set? > > am i missing some configuration somewhere? > > > > thanks > > <Screenshot_1.jpg> > > <Screenshot_2.jpg> > > <Screenshot_3.jpg> > > > ------------------------------------------------------------------------------ > > > Site24x7 APM Insight: Get Deep Visibility into Application Performance > > APM + Mobile APM + RUM: Monitor 3 App instances at just $35/Month > > Monitor end-to-end web transactions and take corrective actions now > > Troubleshoot faster and improve end-user experience. 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