[Mifos-issues] [JIRA] (MIFOSX-133) Support RBI approach to payment order

Mon, 21 Jan 2013 06:02:33 -0800

Change By: keithwoodlock (21/Jan/13 6:01 AM)
Description: GK/GK-maarg has said they would be going with whatever is the RBI reccomendation for the order in which components of an installment are to be paid in relation to partial payments.

 so assuming its This has been clarified as by gk through vishwas/email :
1. overdue fees
2. fees 
3. overdue penalties
4. penalties
5. overdue interest
6.  interest  overdue principal
7.  overdue principal  interest
8. principal

 Is this correct praveen? Outstanding questions:

Q1. Also what should happen in an overpayment sceanrio?

Should it follow the same break down or should it payoff principal of future installments?
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