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http://mifosforge.jira.com/browse/MIFOS-5366?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Chetan Bekkinkeri updated MIFOS-5366:
-------------------------------------
Implementation Priority: Won't
for MifosX
> Need a facility to apply arbitrary interest/dividend to a savings account
> -------------------------------------------------------------------------
>
> Key: MIFOS-5366
> URL: http://mifosforge.jira.com/browse/MIFOS-5366
> Project: mifos
> Issue Type: Improvement
> Reporter: Binny Gopinath Sreevas
> Priority: Major
> Labels: FINA, MifosX
>
> Currently, for a savings account, there is a possibility to apply interest
> only automatically. In some cases, clients follow a custom computation to
> credit interest to a savings account. This computation may not be directly
> associated to the average balance or minimum balance for a period. And may
> not always be credited periodically.
> Hence there is a need to have a facility to manually credit interest or
> dividend to a savings account.
> We cannot use the deposit/withdrawal functionality as this implies a cash
> transaction (and the corresponding accounting entries are passed by Mifos).
> Example:
> An MFI does not pay interest on savings account. Instead, each group or
> center, takes stock of their operational surplus (profit) for a period. A
> portion of this profit is distributed amount members based on a certain
> formula (for example, based average balance across the last 12 months). If a
> feature is available to manually apply an interest amount, then the dividend
> can be computed for all members using a custom report and these amounts can
> be applied to each member's savings accounts using this feature.
> This is similar to how shares are handled by credit unions/co-operative
> societies.
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