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https://issues.apache.org/jira/browse/FINERACT-526?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16171401#comment-16171401
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Ippez Roberts commented on FINERACT-526:
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@Santosh Math, please find my in depth explanation for the workflow below
That can be made configurable during initial Time Deposit account opening
example
*WORK FLOW DURING TD ACCOUNT OPENING FOR ACTION AFTER MATURITY*
# After Maturity. The system should prompt you to the *After Maturity field.*
Select from the look up list the transaction option to be applied on the
account after it matures. Option can include:-
# Rollover of principal only,
# Rollover of principal and interest,
# Transfer of balance to another account.
*NB: *If the selected option involves *rollover*, you should be prompted to the
*Rollover End Date field*. Enter the date when you want the rollover
transaction to stop.
*Interest Payment Mode.* If the option selected in After Maturity does not
involve the roll over of interest with the principal, the Interest Payment Mode
will appear and be accessible. Select from the look up list the options on how
the accrued interest will be paid. e.g_ Transfer to Savings Account, Transfer
to Loan Account, Transfer to Share Account or Transfer to GL Account (this
should be a suspense GL A/c probably an error GL Account)_
*Transfer to.* If the selected option for the interest payment is to transfer
to another account as in the above action options, the system will prompt you
to enter the account number in the Transfer To field or selection from the list
of Accounts available for the particular account types. If savings only filter
savings account etc.
*NB*: If both P+I are rolled over or reinvested the following fields are hidden
i.e Interest Payment Mode and Transfer to fields
> Add Job Scheduler for Time Deposit Maturity Check/Closure
> ---------------------------------------------------------
>
> Key: FINERACT-526
> URL: https://issues.apache.org/jira/browse/FINERACT-526
> Project: Apache Fineract
> Issue Type: Improvement
> Reporter: Ippez Roberts
> Assignee: Markus Geiss
>
> Currently when fixed deposit matures, you have to check it manually and close
> or reinvest which most times can be forgotten and we are most times reminded
> when a client comes for his interest.
> We need to automatic this process:-
> *Changes*
> *If it's normal TD closure without reinvesting then;*
> * Post Interest to TD
> * Transfer the Fixed Amount to linked Saving Account
> * Transfer Interest to linked Saving Account
> * Post Withholding Tax or other taxes associated with this TD
> * Close the account - Note can be predefined as 'Auto Close & Transfer'
> *If Reinvest *
> * Post Interest to TD
> * Transfer the Fixed Amount to linked Saving Account
> * Transfer Interest to linked Saving Account
> * Post Withholding Tax or other taxes associated with this TD
> * Close this account - Note can be predefined as 'Auto Close & Reinvest'
> * Create new TD Account and auto-link the above savings account {previous
> linked savings account} to this TD . Deposit amount should be same as in the
> previous TD account just closed.
> * Auto Activate the account - Fixed Amount should be auto transferred from
> the linked savings account to this newly created and activated TD Account.
> All in all, account settings for the previous TD should be copied over and
> applied to this new TD i.e same amount, duration, interest rate etc
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