> > Thanks for doing this research and laying out your findings > so clearly.
Sure :-) > > Questions/comments inline > > > 1. I could not find anywhere to configure the fiscal year. > > However I see that the code uses gregorian calendar. > > I'll make sure that we clarify in the functional spec that > the fiscal year can't be configured in Mifos-- and that it is > assumed to be Jan 1st. > I did read on the functional spec that Fiscal year should be configurable, but I think it was missed in the implementation > > 2. When I created a savings product (today 04-Dec-07) with > 30 days for > > interest calculation on min balance and 6 months for > posting, in the > > database it recorded the LAST_INT_CALC_DATE = NULL > NEXT_INT_CALC_DATE > > = 2007-12-22 NEXT_INT_POST_DATE = 2008-01-31 > > So from your note below, it sounds like Mifos starts counting > the interest calculation date from the first of the fiscal > year-- hence Dec 22nd. > > In terms of the interest posting date-- im not sure why mifos > calculates this date as the end of January. Seems like it > should be the End of December as per the FS. Correct. It should have been December 31st. > > > When I changed the system date so that it would calculate the > > interest, the dates were changed to LAST_INT_CALC_DATE = > > 2007-12-22 NEXT_INT_CALC_DATE = 2007-01-21 NEXT_INT_POST_DATE = > > 2008-01-31 > > > > > > >From the functional spec for savings product > > http://www.mifos.org/knowledge/functional-specs/product-defini > > tion#savings > > I see that the "Time period for interest rate calculation" > > has a note "Reference for time period is the start of > fiscal year for > > all product instances." > > I'll make sure the functional spec clarifies that the fiscal > year is assumed to be Jan 1st. > > > And for "Frequency of interest posting to accounts" has a note > > "Interest should be posted on the last day of the month for all the > > accounts." > > Yep, I remember this. I believe I'm to blame for this > requirement :-) . > I didn't think there would ever be a need to post interest > mid-month and I wanted to keep the requirements simple for > our first release. I think as we MIFOS gets into supporting multiple calendar systems, we will have to revisit these kinds of requirements > > What this means is that my months are based on number of > days so if I > > say 30 days, then in december (based on the Jan 1st fiscal > year), my > > interest calculation date becomes 2007-12-22, however the > posting will > > only happen at the end of the gregorian month (which in my example, > > even when I had selected 6 months, the date became the end > of the next > > month). > > Yeah, this seems like a bug. Should be Dec 31st. It does sound like a bug, perhaps someone else can verify it as well and then we can log it as a defect. The next int post date comes out to July 31st instead of Jun 30th. > > How are other MFI's setting these parameters, and how is it > expected > > to be calculated? Am I missing something here?.. > > I believe we only have 1 MFI that has savings accounts-- Jitegemea. > Hopefully they will respond with some feedback Doesn't Grameen Koota use this functionality? I was hoping to get some feedback from them as well. ------------------------------------------------------------------------- SF.Net email is sponsored by: Check out the new SourceForge.net Marketplace. It's the best place to buy or sell services for just about anything Open Source. http://ad.doubleclick.net/clk;164216239;13503038;w?http://sf.net/marketplace
