Title: Message Title
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@binny [~binnygopinath] ,
Following are the observations on this issue.
Consider the deposit start date as December 31st 2014 with 12 months deposit period and deposit amount as 1000.
1. We are calculating maturity date from the start date by adding number of deposit periods. Which is calculated as is December 31st 2015
2. While creating the schedule for the deposit account system will create schedule dates month by month till maturity date reaches. Which means
January 31st 2015, February 28st 2015, March 28th 2015, April 28th 2015, May 28th 2015, June 28th 2015, July 28th 2015, August 28th 2015, September 28th 2015, October 28th 2015, November 28th 2015, December 28th 2015 and *January 28th 2015 *
System is creating one extra deposit period since December 28th 2015 is before maturity date (December 31st 2015)
Since it has one extra deposit period we are getting 13000 instead of 12000.
In our system we are calculating all recurring dates (loans, calendars) as mentioned above. Means once February crossed then all next recurring dates will fall on 28th of month.
Please let me know which of the above mentioned calculation is correct?
Please let me know the priority for fixing this issue since it is very rare to have a repayment/deposit at the end of month?
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