Hi all,
I have a few questions about savings functionality (Interest calculation).
>From the functional specs
http://www.mifos.org/knowledge/functional-specs/savings#Savings_account_crea
tion
Interest calculation
* Interest should be calculated and posted to the accounts as per the
frequency specified in the product instance. Start date for interest
calculation and posting will be the start of the fiscal year.
* Reference for time period will be the start of fiscal year for all
product instances.
* Interest should be posted on the last day of the month for all the
accounts (as per "Frequency for interest posting to accounts").
Questions
1. Where do i define the fiscal year? Can this be any date or is it Jan 1st
?
2. RE: The last date of the month, is this also only based on the gregorian
calendar or can i specify the end of the months?
3. in the table saving_account i see the NEXT_INT_CALC_DATE,
NEXT_INT_POST_DATE.. is this what the system uses to calculate and post
interest?
Thanks
Soham
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