Hi, Jitegemea does offer a couple types of savings accounts, but they are 0% interest, so interest-calculation is a non-event.
There are two database configuration values which seem related to interest calculation: SYSTEM_CONFIGURATION.DAYS_FOR_CAL_DEFINITION = 30 SYSTEM_CONFIGURATION.NO_OF_INTEREST_DAYS = 365 I haven't experimented with them, but they might affect your results. Best, Bart -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Emily Tucker Sent: Saturday, December 15, 2007 2:50 AM To: Mifos functional discussions Cc: Developer Subject: Re: [Mifos-functional] Questions about Savings functionality Thanks for doing this research and laying out your findings so clearly. 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. > 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. > 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. > 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. > 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 Emily. ------------------------------------------------------------------------ - 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/marketp lace _______________________________________________ Mifos-functional mailing list [EMAIL PROTECTED] https://lists.sourceforge.net/lists/listinfo/mifos-functional ------------------------------------------------------------------------- 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
