bharath gowda created FINERACT-1316:
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Summary: Interest calculation going wrong for advance/late payments
Key: FINERACT-1316
URL: https://issues.apache.org/jira/browse/FINERACT-1316
Project: Apache Fineract
Issue Type: Bug
Components: Loan
Affects Versions: 1.4.0
Reporter: bharath gowda
Assignee: Avik Ganguly
Fix For: 1.5.0
Attachments: 22.png, product config.png
for a loan product with daily interest calculation, when an
advance/late/partial repayments are made, interest calculation is going wrong,
which is resulting in 3 major issues
# repayment schedule payment allocation is going wrong
# The next prepayment interest calculation is wrong
# The interest of all the subsequent installments is calculating wrong because
of the wrong principal balance.
To reproduce, create a loan product with interest calculation set to
daily(check attachment for complete product configuration)
create->disburse a loan with the loan product
do a early repayment to the loan and check the calculation
refer attachment for the sample
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