sapana created FINERACT-686:
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Summary: Add 'cycle' as chargeTimeType for loans
Key: FINERACT-686
URL: https://issues.apache.org/jira/browse/FINERACT-686
Project: Apache Fineract
Issue Type: New Feature
Components: Loan
Affects Versions: 1.1.0
Reporter: sapana
Attachments: Screen Shot 2018-12-03 at 11.49.59 AM.png, Screen Shot
2018-12-06 at 10.08.56 AM.png
Currently loan charges have 'installment' as chargeTime option. However, for a
loan if there are several overdue installment, penalty is applied on due date
once per overdue installment. Ideally, we would like to apply loan charge only
once per due date (irrespective of number of overdue installments)
Attached is screenshot of current behaviour: filename: Screen Shot 2018-12-03
at 11.49.59 AM
And desired behaviour - late penalty once per due date - filename : Screen Shot
2018-12-06 at 10.08.56 AM
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