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http://mifosforge.jira.com/browse/MIFOS-448?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]
Lukasz Chudy updated MIFOS-448:
-------------------------------
Implementation Priority: Could (was: Won't)
> Cash management approach outlined
> ---------------------------------
>
> Key: MIFOS-448
> URL: http://mifosforge.jira.com/browse/MIFOS-448
> Project: mifos
> Issue Type: Task
> Components: Accounting & Cash Management
> Affects Versions: Release 0.1
> Environment: Platform: All, OS: All
> Reporter: jdailey
> Assignee: Krishnan Mani
> Priority: Critical
> Labels: accounting, mozambique, prioritygaps
> Fix For: Release 1.0
>
>
> The issue is to appropriately describe the uses that Mifos will enable in
> terms
> of cash management and accounting. That is, in the current release, we have
> limited functionality and all implementations will need to pay attention to
> the
> manner in which the application is used. This starts with the "straightline"
> rather than edge cases.
> Use cases at an MFI
> * Loan officers take money to and from the field and need to reconcile these
> amounts with portfolio accounting (interest earned, interest paid, loans
> disbursed, loans repayed, savings deposited, fees and penalties paid)
> * Cash moves between the local MFI branch and the head office via third
> parties
> or directly.
> * Cash moves between the local MFI branch and the local formal banking
> institutions.
> * Reconcile movememt of cash between local formal banking branches
> * Reconcile movements between internal accounts that are held in a single
> local
> bank account.
> * Interest and fees are earned and recognized either on an accural or cash
> basis
> by the MFI
> * Interest paid on savings accounts are recognized as expense
> * Project interest payable and interest receivable
> Use cases supported in Mifos
> * Designate portfolio transaction for loan product is either from local
> treasury
> (aka Petty Cash) or from account (bank) during product definition
> * Pre-fixed transactions to/from accounts in the GL setup
> * Recognizing cash income from fees, interest
> * Recognizing cash expenses for savings
> * Generating amts due in future - based on schedule of payments
> * Note source of funds for product
> * Generate interest receivable based on schedule --> in reports
> ...more here...
> How to apply the Mifos functionality to the use cases
> * Maintain a ledger of movement of cash between different entities (bank
> accounts) that exist outside of Mifos GL entries
> * For cash basis and internal treasury scenario, use petty cash and create
> entry
> for cash in/out prior to daily activity from collection sheets.
> * For cash basis and external treasuries (local bank accounts), do one of
> several approaches: 1) create entries of cash into bank accounts before
> making
> savings/loans transactions 2) create entries of cash into bank accounts after
> making savings/loans transactions 3) create entries in cash account and then
> keep movement to/from external treasuries in separate ledger
> * In all scenarios, it is best to create transactions that as accurately as
> possible reflect the true movement of cash. [principle of accounting]
> --> this will require the functionality of "ad-hoc" entries into Mifos.
> ...more here...
> These need further detail work and testing during field work.
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