[
http://mifosforge.jira.com/browse/MIFOS-5629?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]
Łukasz Babski updated MIFOS-5629:
---------------------------------
Fix Version/s: (was: Unscheduled)
Vinolia I
> Incorrect calculations in Declining Balance - Interest Recelculation rate
> type after adding fees
> ------------------------------------------------------------------------------------------------
>
> Key: MIFOS-5629
> URL: http://mifosforge.jira.com/browse/MIFOS-5629
> Project: mifos
> Issue Type: Bug
> Components: Fee, Loan Account
> Affects Versions: 2.3.3
> Reporter: Łukasz Babski
> Priority: Critical
> Fix For: Vinolia I
>
> Attachments: 1.png
>
>
> Incorrect calculations in Declining Balance - Interest Recalculation rate
> type after adding fees.
> Repro:
> # Create two Loan products:
> A)
> {quote}
> Payment frequency: weekly
> Loan Type: Declining Balance
> {quote}
> B)
> {quote}
> Payment frequency: weekly
> Loan Type: Declining Balance-Interest Recalculation
> {quote}
> # Create a periodic fee of 4% applied to principal + interest, and one-time
> fee for the first installment equal 5$
> # Create Loan accounts for both Loan Types:
> {quote}
> Loan amount: 120
> Interest rate: 25%
> Number of installments: 6
> Payment frequency: weekly
> {quote}
> # Add newly created fees to both loan accounts
> # Click continue and compare both schedules
> Information on
> [PAGE|http://mifos.org/functional-specifications/system-processing/interest-calculations-loan-accounts]
> says about Interest Recalculation that:
> "This takes the Declining Balance interest rate type, but interest charged
> is updated based on early or late payments".
> Which means that whole Calculations for accounts where payment is on time and
> is correct are the same as on Declining Balance rate type.
> As it is shown on attached file, adding fees to this account makes
> calculations incorrect.
> Actual Result:
> Adding fees to account with Interest Recalculation rate type makes
> calculations incorrect.
> Expected result:
> For Interest Recalculation rate type whole Calculations for accounts where
> payment is on time and is correct are the same as on Declining Balance rate
> type.
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