Payments which are made by the group should be pro-rated across the repayment
schedules of the individual members (GLIM)
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Key: MIFOS-4510
URL: http://mifosforge.jira.com/browse/MIFOS-4510
Project: mifos
Issue Type: New Feature
Components: GLIM
Affects Versions: Release E - Unscheduled
Environment: Release Namemifos-v1.7.x-beta
Commit Identifier874b78eb8759af0a248ae41ea3e7d5eba7f9724b
Build DateTue Nov 02 08:55:39 PDT 2010
Reporter: Milan Patel
Priority: Major
Attachments: GLIM comments and basic specification.doc
Requirement #2: Payments which are made by the group should be pro-rated across
the repayment schedules of the individual members.
Reason required: Information for clients. Clients often request statements that
specify the amount of the loan that has been repaid, the amount outstanding,
and how those amounts break down across the group members.
Priority: Major
Workflow:
1) Loan repayment is made, and details are entered into system for the group
loan via the "Apply payment" function
2) Payment made to group is then applied pro-rata across the individual loan
schedules for the group loan. Any shortfall of payments are applied pro-rata
as well. Interest for late payment is shared equally across the group members,
and not pro-rated.
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