[ https://issues.apache.org/jira/browse/FINERACT-348?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
Santosh Math updated FINERACT-348: ---------------------------------- Fix Version/s: 1.3.0 > Issues when doing a "Close-As-Rescheduled" on a loan > ----------------------------------------------------- > > Key: FINERACT-348 > URL: https://issues.apache.org/jira/browse/FINERACT-348 > Project: Apache Fineract > Issue Type: Improvement > Components: Loan > Reporter: Santosh Math > Assignee: Markus Geiss > Priority: Critical > Labels: p1 > Fix For: 1.3.0 > > > Reported by Binny at https://mifosforge.jira.com/browse/MIFOSX-1205 > Original Description: > When closing a loan using the "Close (as Rescheduled)" button, the loan > account is closed, but there are no transactions or accounting entries made > for this closure. This not correct. > The following should be done: > 1) A new transaction should be visible to user under transactions to show > that the loan was closed as rescheduled rather than leaving the loan as is > without any changes. This means that Mifos X should mkae a new entry > m_loan_transaction table - with transaction_type_enum = 7 and amount as the > total outstanding amount (principal + interest + fees). > 2) Ensure that the right accounting entries are made when closing the loan as > "closed (as rescheduled)". This involves: > For loan products: capturing another General Ledger account head under > “Rescheduled in Suspense” – for example: “Rescheduled Loans Suspense Account” > When closing as loan as rescheduled, passing the following entries: > a) For Cash Accounting: > Debit: Rescheduled Loan Suspense Account (with only principal outstanding > amount) > Credit: Loan portfolio > b) For Accrual (upfront): > Debit: Rescheduled Loan Suspense Account (sum of outstanding principal + > interest + fees + penalties) > Credit: Loan portfolio (with principal outstanding amount) > Credit: Interest Receivable (with interest outstanding amount) > Credit: Fees Receivable (with fees outstanding amount) > Credit: Penalties Receivable (with penalties outstanding amount) > c) For Accrual (periodic): > Debit: Rescheduled Loan Suspense Account (sum of outstanding principal + > interest receivable accounted + fees receivable accounted + penalties > receivable accounted) > Credit: Loan portfolio (with principal outstanding amount) > Credit: Interest Receivable (with interest receivable accounted) > Credit: Fees Receivable (with fees receivable accounted) > Credit: Penalties Receivable (with penalties receivable accounted) -- This message was sent by Atlassian JIRA (v7.6.3#76005)