Bharath Gowda created FINERACT-2107:
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Summary: Transaction type - Interest refund
Key: FINERACT-2107
URL: https://issues.apache.org/jira/browse/FINERACT-2107
Project: Apache Fineract
Issue Type: Improvement
Reporter: Bharath Gowda
Attachments: GPL Interest Refund Calculations (1).xlsx
h4. *Background and details:*
As a User, I expect the system to calculate and post an interest refund when a
merchant refund posts so that we are only charging the customers interest on
the net purchase amount. Will require build out of process to calculate the
amount of interest to refund. Ensure payment allocation rules allow for unique
payment allocation for this transaction type.
As a merchant refund is posted, there should be a system calculated credit for
interest charged to the loan based on maturity date. This would be posted to
the loan as a credit adjustment type “Interest Refund”.
*Acceptance criteria*
* Add new transaction type
* Loan product template retrieve the supported options for configuring when
Interest refund txn to be created
* Interest refund txn triggering configuration can be stored on loan product
* We should be able to define allocation rules for “Interest Refund”
transaction
UC scenarios attached
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