handling overpayments
---------------------
Key: MIFOS-3305
URL: http://mifosforge.jira.com/browse/MIFOS-3305
Project: mifos
Issue Type: New Feature
Components: Loan Account
Reporter: Sam Birney
Priority: Major
Mifos is currently designed to reject any payment greater than remaining
balance of the loan (an overpayment). This can happen for various reasons:
* As we have MFIs who do not collect repayments directly, but rather through
banks or post offices, it becomes a common scenario for clients to overpay the
remainder of their loan, since these other locations do not know how much is
left on the loan.
* Another case where it commonly occurs is after migrating accounts from
another MIS when there are small rounding differences between the two
schedules, so that closing an account in the old system may result in an
overpayment in the Mifos schedule, which no clear way to track that.
* I suspect with the addition of mobile money, this scenario will be common for
those customers as well.
Sometimes it is only a few dollars over, sometimes an entire extra installment
is mistakenly paid. Ideally the MIS will track this so that action can be
taken to return the overpayment portion to clients in future.
--
This message is automatically generated by JIRA.
-
If you think it was sent incorrectly contact one of the administrators:
http://mifosforge.jira.com/secure/Administrators.jspa
-
For more information on JIRA, see: http://www.atlassian.com/software/jira
------------------------------------------------------------------------------
This SF.net email is sponsored by Sprint
What will you do first with EVO, the first 4G phone?
Visit sprint.com/first -- http://p.sf.net/sfu/sprint-com-first
_______________________________________________
Mifos-issues mailing list
[email protected]
https://lists.sourceforge.net/lists/listinfo/mifos-issues
