Hi all,
In declining balance interest calculation rule, I would like to understand
some behavior with regard to rounding. Let me explain, (you can try it out
on the test server)
1. Create a Loan with declining as the type of interest calculation rule (i
have created General Loan 15000 No Grace, you can select that)
2. Select a client and choose the loan from 1 and note the payment schedule.
The interest and principal is added to make a nice rounded total amount.
e.g. if the interest is 144.2 , there is .08 added to the principal to make
the total 678.0
So my assumption here is that the business rule says to make the total a
whole amount.
(Issue 1) - Won't there be a case where the MFIs want to use denominations
less than 1 (cents, paisa etc) . So should this not be configurable? If it
is what property configures this?
Now create a different loan with declining as the type of rule (GL Principal
only grace in the test server), but with principal only grace and 1 as the
number of installment for grace, and apply it to a client.
In the schedule you will see the first installment principal as 0, and the
interest as something like 144.2 (which is correct) After this all of the
installments total are not rounded . So your total due would be e.g 702.9
(Issue 2) - So this means that you collect amount differently based on grace
on principal? I would think that the same behavior should apply to this as
well. Is this working as designed?
Thanks
Soham
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