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Change By:
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keithwoodlock
(08/Oct/12 10:34 AM)
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Description:
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Be able to define holidays in a system
1) It would be nice to be able to define holidays at a branch level, setup recurring holidays etc
2) Set rules like move scheduled repayments to next working day or previous working day
[Note: from Keith Woodlock]
This sounds like functionality that was in old mifos. My observation of this functionality taking into account what went into old mifos on this is that we shouldnt approach 'holidays' in that fashion.
If we let 'holidays' affect the loan repayment schedule you need to do the following:
1. When creating/approving new loan application take into account known holidays when generating loan schedule.
2. When adding/updating/removing holidays means all existing loans with loan schedules (active, awaiting disbursal etc) need to be reprocessed - mifos introduced a batch job to handle this in overnight process
The loan schedule should be generated based on repayment period term and frequency regardless of national/local/mfi specific 'holidays'.
If a repayment is due on a given holiday and the repayment is
recored
recorded
as occuring the day after, the question becomes is this a late payment? The preference may be to take into account 'holidays' when processing a repayment transactions and view these days as grace - so if repayment was 1 day after repayment due date which is a holiday, the repayment would be seen as actually 'on time' and handled as 'on time' payments should be for the mfi.
So with respect to loans, catering for holidays is a bit of an edge case although further discussion with GK on this is needed to be sure of this.
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