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https://issues.apache.org/jira/browse/FINERACT-2197?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Adam Saghy resolved FINERACT-2197.
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Resolution: Fixed
> Introduce a new type of ACTUAL during calculation of days in year
> -----------------------------------------------------------------
>
> Key: FINERACT-2197
> URL: https://issues.apache.org/jira/browse/FINERACT-2197
> Project: Apache Fineract
> Issue Type: Sub-task
> Affects Versions: 1.11.0
> Reporter: Adam Saghy
> Priority: Major
> Fix For: 1.12.0
>
>
> # System should consider leap year calculation when the year is configured to
> 'Actual'
> # 366 days is considered *only* for the period that contains day of *29th of
> Feb.*
> ## Example:
> ### Loan got disbursed on 10 Jan 2024, matures on 10 June
> ### 1st repayment period starts 10 Jan 2024 - 10 Feb 2024 → 365
> ### 2nd repayment period starts 10 Feb 2024 and ends on 10 March 2024, if
> day of 29th of Feb is there, the calculation should consider 366 days in the
> year
> ### 3rd and so on → 365
> # 365 days is considered otherwise, even if the year is leap year
> ## Example:
> ### Period starts 10 March and ends on 10 April 2024, the calculation should
> use 365 days in year
> *Goal*
> * We need to introduce a new dropdown option if the customer selected Actual
> for days in year, which is available for progressive loans only on the loan
> product, where we can instruct Fineract to only consider leap year (366 days
> in year) for the period that contains the day of 29th of Feb or for the full
> year!
> If the flag is TRUE, we need to implement the above logic during the time we
> calculate the days in year!
> {panel}
> *Acceptance criteria*
> * New dropdown to be introduced on Loan product (inherited on loan level),
> if ACTUAL is selected for days in year and it is progressive loan product:
> ** {{FULL_LEAP_YEAR}} : 366 days for full leap year. → *This is the by
> default value!*
> ** {{{}FEB_29_PERIOD_ONLY{}}}: 366 days for period of February 29
> * Validation:
> ** Only applicable if “ACTUAL” is set for days in year
> ** Only supported for Progressive loans
> ** By default value: {{FULL_LEAP_YEAR}}
> * Days in year calculation:
> ** If {{FEB_29_PERIOD_ONLY}} is selected
> *** use 366 as days in year for period that contains the day of 29th of
> February
> *** otherwise 365
> ** if {{FULL_LEAP_YEAR}} is selected
> *** if leap year → 366
> *** otherwise → 365
> * Overdue loans does not change anything
> ** After maturity date we dont recalculate interest
> * Additional installments are not changing the maturity date, no interest
> recalculation
> * After reschedule if the maturity date now on or after 29th of Feb, we are
> recalculating the interest of the period which now contains the day of 29th
> of February (if {{FEB_29_PERIOD_ONLY}} is selected{panel}
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