Hi All, Background : I am implementing the funcitonality for Equal Principal Payments <http://www.mifos.org/developers/wiki/DecliningBalanceInterestCalculationWit hEqualPrincipalInstallment>
I implemented code to divide the Principal into equal installments, and calculate interest. However there is a function in LoanBO->applyRounding which is adding some amount to the principal. For e.g. I had 15,000 pricipal and 24 installments with 2 weeks as frequency and for the first payment the principal should be (15000/24)=625, and the interest should be 144.23. But after going through applyRounding it comes to 625.8 and 144.2 Thus I looked at the rounding specs and configuration and have the following questions: 1. I want to set up rounding rule as such, less than *.49 rounds down, and greater than *.50 rounds up, and I don't want to display any digits after the decimal. What do I set the fields in the currency table to define this? My currency is Rs. 2. From http://www.mifos.org/knowledge/functional-specs/accounting-in-mifos#currency -and-rounding-rules mentions that "The system should adjust the last installment (increase or decrease) for loan accounts to account for the amount change due to rounding. Example, if the actual repayment due = 181.95 and after rounding it becomes= 181, system should add the 0.95 to the last installment due." Does this mean only the LAST installment should be adjusted? Because it looks like each installment was being adjusted (now this could be because I did not know how to set the rounding configuration properly).. 3. Other than the functional specs, is there documentations on how to configure this or what the values mean? (I understand that there is a new and improved configuration process coming out of 1.1) Thanks and Regards Soham ------------------------------------------------------------------------- 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
