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http://mifosforge.jira.com/browse/MIFOS-4226?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]
jbrewster updated MIFOS-4226:
-----------------------------
Component/s: Savings Account
> 3 month interest posting and calculation fails in MIFOSTEST-141
> ---------------------------------------------------------------
>
> Key: MIFOS-4226
> URL: http://mifosforge.jira.com/browse/MIFOS-4226
> Project: mifos
> Issue Type: Bug
> Components: Savings Account
> Affects Versions: Release E - Iteration 12
> Reporter: Kojo Gambrah-Sampaney
> Assignee: Kojo Gambrah-Sampaney
> Priority: Major
> Fix For: Release E - Iteration 12, Release E
>
>
> Manual testing of MIFOSTEST-141 revealed a failure such that interest was not
> posted in the third month, rather interest was posted at the end of the
> second month.
> My notes from this test case execution is as follows;
> MIFOSTEST-141 - http://mifosforge.jira.com/browse/MIFOSTEST-141
> Created voluntary savings product with the following details;
> 1. three month interest calculation
> 2. three month interest posting
> 3. 20 percent interest
> 4. balance for Interest calculation - minimum balance
>
> Created a savings account for a centre on 23/11/2010 with the following
> transactions
> 02/12/2010 deposit 3,000
> 02/12/2010 deposit 1,000
> 02/02/2011 deposit 1,000
> 02/02/2011 deposit 1,000
> 02/02/2011 deposit 1,000
> 02/02/2011 deposit 7,000 (non-specific client)
> The system date was moved to 02 Feb 2011 and the SavingsIntPostingBatchJob run
> The formula for interest calculation , A=P(1+r/n) can be expanded into
> A = P [ 1 + {(R/100 x D/F) / n) } ]
> since r = R/100 x D/F
> for this case,
> P = 3,000
> R = 20.0
> D = 70 days
> F = 365 days
> n = 3
> therefore ;
> A = 3000 x [1 + { (20/100 x 70/365) / 3} ]
> A = 3000 x 1.012785388
> A = 3038.356164384
> The result of the interest calculation by mifos (from transaction history)
> was ;
> 31/12/2010 Interest_Posting - 11 (note interest is posted in the
> second month and not in the third month per the savings product definition)
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