Mihaly Dallos created FINERACT-1968:
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Summary: Configurable payment allocation
Key: FINERACT-1968
URL: https://issues.apache.org/jira/browse/FINERACT-1968
Project: Apache Fineract
Issue Type: New Feature
Reporter: Mihaly Dallos
Assignee: Mihaly Dallos
h3. Background:
Provide customizable payment allocations by payment type, configurable across
loan products
h3. Details
Payment allocation should be configurable at the transaction type level.
It remains the same for all sub-payment types of the transaction types
Each Loan product can have its own advanced payment allocation configuration
options (mentioned below)
Payment allocation rule changes to the loan product will affect only the new
loan accounts created after. - existing loans will honor the old rules
future allocations already done to the installment will not have any impact
during the reverse replay or future repayments
h4. Main Allocation rule (Installment Level)
||Options||Sub options||
|Past Due Installment|No Option - always from the oldest Installment|
|due Installment|No option - only current due installment(when transaction date
is same as due date)|
|Future Installments| * O1: From Next Installment
* O2: From last Installment
* O3: Re-Amortize to future Installments(will only allocated to principal
portion of installments)|
h4. Secondary Allocation rule
||Options||
| * Penalties
* Fees
* Principal
* Interest|
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