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http://mifosforge.jira.com/browse/MIFOS-5182?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=72082#comment-72082
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Mifos Hudson Jira Plugin User commented on MIFOS-5182:
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Integrated in !http://ci.mifos.org/hudson/images/16x16/blue.png!
[head-h-release-secondary
#25|http://ci.mifos.org/hudson/job/head-h-release-secondary/25/]
MIFOS-5182: Display apply pre-payment link for loans of type 'declining
balance' or 'declining balance - equal principal installment'
MIFOS-5182: Show principal pre-payments in activity log
MIFOS-5182: Fixed personnel field for pre-payments
MIFOS-5182: Added interface for pre-payments
Paweł Gesek :
Files :
* serviceInterfaces/src/main/java/org/mifos/dto/screen/LoanInformationDto.java
*
appdomain/src/main/java/org/mifos/application/servicefacade/LoanAccountServiceFacadeWebTier.java
*
application/src/main/resources/META-INF/resources/pages/application/loan/jsp/loanaccountdetail.jsp
*
application/src/main/resources/org/mifos/config/localizedResources/LoanUIResources.properties
Paweł Gesek :
Files :
* appdomain/src/main/java/org/mifos/accounts/loan/business/LoanBO.java
Paweł Gesek :
Files :
*
appdomain/src/main/java/org/mifos/application/servicefacade/LoanAccountServiceFacadeWebTier.java
* appdomain/src/main/java/org/mifos/accounts/loan/business/LoanBO.java
Paweł Gesek :
Files :
*
appdomain/src/main/java/org/mifos/application/servicefacade/LoanAccountServiceFacadeWebTier.java
*
serviceInterfaces/src/main/java/org/mifos/accounts/servicefacade/AccountServiceFacade.java
*
appdomain/src/main/java/org/mifos/accounts/servicefacade/WebTierAccountServiceFacade.java
*
userInterface/src/main/resources/org/mifos/ui/freemarker/core/enterLoanRepaymentDetails.ftl
*
userInterface/src/main/resources/org/mifos/ui/freemarker/core/reviewLoanRepaymentDetails.ftl
*
userInterface/src/main/java/org/mifos/clientportfolio/loan/ui/DateValidator.java
* userInterface/src/main/resources/META-INF/resources/pages/js/padDate.js
* userInterface/src/main/java/org/mifos/ui/ftl/DateFormatter.java
*
serviceInterfaces/src/main/java/org/mifos/application/servicefacade/LoanAccountServiceFacade.java
*
application/src/main/resources/META-INF/resources/WEB-INF/flows/customLoanRepayment.xml
* appdomain/src/main/java/org/mifos/accounts/loan/business/LoanBO.java
*
userInterface/src/main/java/org/mifos/ui/loan/controller/LoanRepaymentController.java
*
userInterface/src/main/java/org/mifos/ui/loan/controller/LoanRepaymentFormBean.java
> DECLINING BALANCE WITH INTEREST RECALCULATION - NEED TO SUPPORT MONTHLY OPTION
> ------------------------------------------------------------------------------
>
> Key: MIFOS-5182
> URL: http://mifosforge.jira.com/browse/MIFOS-5182
> Project: mifos
> Issue Type: Improvement
> Reporter: Binny Gopinath Sreevas
> Assignee: Paweł Gesek
> Priority: Blocker
> Labels: community, fina2
> Fix For: Release H
>
> Attachments: SampleLoanCalculation_MonthlyReducing_V02.xlsx,
> SampleLoanCalculation_MonthlyReducing.xlsx
>
> Original Estimate: 4 weeks
> Remaining Estimate: 4 weeks
>
> Currently "declining balance with interest recalculation" does a daily
> interest recalculation. There is a need to have an option to do a "monthly
> interest calculation". Detailed requirement and example below:
> There are 2 loans (with monthly installments) which are handled as follows in
> real-life:
> Loan 1:
> February-2011 - Disbursed - 10,00,000 at 2% per month
> March-2011 - Interest paid - 20,000
> April-2011 - Interest paid - 20,000
> May-2011 - Loan repaid paid with interest - 10,20,000
> I schedule this as a loan product with interest type as "diminishing
> balance" and with 2 "principal-only grace" periods. This works fine in Mifos.
> Loan 2: Is similar, except that the customer does some prepayments.
> May-2011 - New Loan disbursed - 40,00,000 at 2% per month
> June-2011 - Interest paid - 80,000
> July-2011 - Interest paid - 80,000
> August-2011 - Interest paid - 80,000, Principal repaid 5,00,000
> (principal outstanding is now 35,00,000)
> September-2011 - Interest paid - 70,000, Principal repaid 10,00,000
> (principal outstanding is now 25,00,000)
> October-2011 - Interest paid - 50,000, Principal repaid 15,00,000
> (principal outstanding is now 10,00,000)
> Nov-2011 - Interest paid - 20,000
>
> I am not able to configure Loan-2 in Mifos. Ideally, the pre-payments should
> be adjusted to the principal. But mifos accounts prepayments against future
> interest, if I use interest type as "diminishing balance".
>
> If I use the interest type as "diminishing balance with interest
> recalculation", Mifos computes the interest based on daily-reducing balance.
> So the interest due for Feb, will be less than interest due for April. Which
> will not help implementing the above scenario. And with this type of
> interest, Grace periods are not supported. So it is impossible to implement
> such a loan in Mifos.
> My understanding of the solution in Mifos, will need 2 enhancements:
> a) Along with "daily declining balance with interest recalculation", we need
> a "monthly declining balance with interest recalculation"
> b) We need "Principal Only Grace periods" to be allowed for interest type
> "Declining balance with interest recalculation". Currently, Mifos does not
> allow this. There is already a ticket for this at: MIFOS-4742
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