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http://mifosforge.jira.com/browse/MIFOS-3305?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=58809#action_58809
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emilytucker commented on MIFOS-3305:
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Thanks for adding this suggestion, Sam. Any thoughts/suggestions of what Mifos
should do with an overpayment. Should it be credited to the client's account
as a "Credit-- Loan overpayment"? Do you have any idea how other MIS systems
handle this?
> 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.
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