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https://issues.apache.org/jira/browse/FINERACT-307?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Michael Vorburger reassigned FINERACT-307:
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Assignee: (was: Nazeer Shaik)
Dear current assignee of this issue, related to FINERACT-1000 and to clean up
our shiny brand new JIRA Dashboard on
https://issues.apache.org/jira/secure/Dashboard.jspa?selectPageId=12335824 I'm
doing a little bit of "release management" today, and because you have no
updated in a very long time, have taken the liberty to assume that you have
lost interest to contribute to this issue (the Fineract project is sad to have
lost you!), and am therefore un-assigning it from you (in a "bulk" update, this
message is not personal but is being commented in tens of issues today).
Un-assigning it from you makes it clear to other contributors that this issue
would be available for them to work on, in the (rather unlikely, yes) case that
they could be so inclined. Should this be a misunderstanding on my part, I
apologize, ask you to clarify your intentions for this issue by replying by
commenting back here - and do re-assigning it back to you!
> Accruals accounting does not accrue income on loans closed prematurely
> ----------------------------------------------------------------------
>
> Key: FINERACT-307
> URL: https://issues.apache.org/jira/browse/FINERACT-307
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Reporter: Santosh Math
> Priority: Major
> Labels: p2
> Fix For: 1.5.0
>
>
> Reported by Sander at https://mifosforge.jira.com/browse/MIFOSX-2093
> Original Description:
> If a customer makes the final payment before the end of the loan schedule the
> loan status changes to closed, and the balance reports 0, which is correct.
> These loans are non-recalculating and accrue interest in line with their
> schedules (periodic). As such all interest portions are booked into the
> Interest Receivable account.
> However because of the closed status the accruals batch job no longer
> generates the periodic accruals for this loan (query excludes any status
> which is not active). As a result a part of this income will remain in the
> Interest receivable account indefinitely, which is not the expected
> behaviour. We would either expect the accruals to continue in line with the
> schedule, or for the accrual to be generated alongside the final (closing)
> transaction of the loan.
> The quick-fix for this is to adjust the batch job to look not just look at
> loan status but also at any loan where the interest accrual date is smaller
> than the expected maturity date.
> As a permanent fix we should investigate whether new accounting types/rules
> need to be defined for this scenario to also book this prepaid income as a
> liability instead of an asset account, such as Prepaid Interest received.
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