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Issue Type:
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![Bug]() Bug
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Affects Versions:
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2.4.1 |
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Assignee:
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Unassigned |
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Attachments:
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Declining_Balance_Recalculate_AdvPayments.xlsx |
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Components:
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Loan Account |
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Created:
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31/Jul/12 8:15 AM
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Description:
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One of our customer is using Declining Balance Interest type component. Most of the members are paying principal amount in advance or under payments, mifos is adjusting the advance payment to future installments proportionately for principal and interest as per the original loan schedule.
Since customer is paying principal amount in advance, mifos should adjust the amount to principal component and recalculate interest for future installments based on the principal outstanding. This has led to major operational issues at customer.
Please note: Interest type cannot be changed to EMI-interest recalculate as our customer business does not demand this product component.
Please find attached example for your reference.
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Project:
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mifos
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Labels:
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Hugo
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Priority:
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![Blocker]() Blocker
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Reporter:
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hugotechnologies
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