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Change By:
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sangamesh
(18/Jun/13 7:51 AM)
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Description:
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1) Click on Administration ->Organization ->Add Loan Product – “Add Loan product” page should be displayed.
2) In “Add loan product” page enter all the fields
Ex:
1
A)
-Name: Daily loan product,
Decimal Places: 2,
Principal: 10000,
Number of Repayments: 10
Repaid Every: 7 days
Nominal interest rate %: 18.25 per year
Amortization: Equal Installments
Interest method: Flat
Interest calculation period: Same as repayment period
Repayment strategy: Mifos style
and click on the save button.
3) Create a new client and assign the created loan product.
4) Click on Preview Repayment Schedule – Note the total amount.
5) Again Click on Administration ->Organization ->View Loan Product – Loan products page should be displayed.
6) Click on View/Edit- On the created Loan product and modify the changes for:
Ex:
2
B)
- Name: Weekly loan product,
Repaid Every: 1 Weeks
and click on the save button.
7) Create a new client and assign the new created loan product.
8) Click on Preview Repayment Schedule – Note the total amount.
9) Comparing both the Loan products - Total Amount in Repayment Schedule is not matching. Although "Repaid Every": 7 days and 1 Week should behave same as the product.
Screen shot attached for clarity.
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