Hello all,
Here in Honduras, we're trying to decide how we'll handle late payments in
Mifos 1.1 when it's released.
The policy of the MFI here is to only charge the additional interest that
accrued as a result of late and/or partial payments. There are no penalties
per se for late payment -- just the additional (simple) interest.
The issue we are running into is that if the last payment of the loan is
entered, and the data entry person forgets to manually calculate the
additional interest and tack it onto the loan the same day as the last
payment is entered, the loan gets closed due to the batch processes that
night.
Does anyone else have this problem, or have suggestions as to how to best
handle late fees / additional interest on group loans?
Atentamente,
Andrew
La Ceiba, Honduras
-------------------------------------------------------------------------
This SF.net email is sponsored by: Microsoft
Defy all challenges. Microsoft(R) Visual Studio 2008.
http://clk.atdmt.com/MRT/go/vse0120000070mrt/direct/01/
_______________________________________________
Mifos-functional mailing list
Mifos-functional@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/mifos-functional
