Vikranth Ramasami created FINERACT-1542:
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Summary: System is calculating incorrect interest when late
payment is made after rescheduling
Key: FINERACT-1542
URL: https://issues.apache.org/jira/browse/FINERACT-1542
Project: Apache Fineract
Issue Type: Bug
Reporter: Vikranth Ramasami
Attachments: Incorrect interest calculation late payment after
rescheduling.docx
# Create a working day in the System -> organization.
# Set up the Saturday and Sunday as non-working days
# Create a loan with Principal = 12000, Number of repayments = 12, rate of
interest = 12%
# Keep the disbursement date = 10th May 2021
# Keep the first repayment date = 14th June 2021
# Perform a date payment on 14th June
# Make the repayment of 14th July on 15th July
# Perform a rescheduling and move the repayment of 16th August to 31st August
# Perform a repayment of 31st August on 31st August
# Perform a late payment of 30th September on 1st October
The system is settling the 30th September and also it is creating a new
installment on 1st October with incorrect interest
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