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Dear Kasia
We added an additional parameter by name “ReculculateInterest” in config_key_value. You need to set the value to 1. Please find details below. Hope this will help you in testing the functionality.
When the value is set to 0 the interest calculation will be default application behaviour i.e., interest will not be recalculated when there are advance or under payments.
When the value is set to 1, interest will be recalculated when there are advance or under payments. In order to achieve this we used the interest recalculate class from “Interest Type: Declining Balance Interest Recalculate”
Thanks
Shiva
From: Kasia Piecielska (JIRA) [email protected]![]()
Sent: 22 October 2012 18:20
To: [email protected]
Subject: JIRA (
MIFOS-5731) Advance & underpayment scenarios for DecBalance Int type<https://mifosforge.jira.com/s/en_USacb2gh-418945332/809/274/_/jira-logo-scaled.png>
<https://mifosforge.jira.com/secure/useravatar?avatarId=10072> <https://mifosforge.jira.com/secure/ViewProfile.jspa?name=kasiap> Kasia Piecielska commented on Bug <https://mifosforge.jira.com/images/icons/bug.gif> <https://mifosforge.jira.com/browse/MIFOS-5731>
MIFOS-5731<https://mifosforge.jira.com/browse/MIFOS-5731> Advance & underpayment scenarios for DecBalance Int type
Hi,
I tested this ticket and now in Mifos:
When client paid in advance, interest is paid first and the rest of payment is going to principal, without recalculating future installments.
So it looks like only improvement is that changing order of payment (1. interest 2. principal)
According to the issue description, after paying principal amount in advance, the remaining principal balance is lower, so that interest should be recalculated using that lower amount.
Why actual implementation is different than issue description?
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