Yeah I think this may be from trying to implement fees for both clients and loans.
For clients, it makes sense to have an "upfront" fee versus a periodic fee. However for loans, there seems to be a different distinction which is what Gayl's getting at. I think for loan fees we should have a different designation for types of fees versus for clients. Kay > -----Original Message----- > From: Ryan Whitney [mailto:[email protected]] > Sent: Monday, August 30, 2010 1:32 AM > To: [email protected] > Subject: Re: [Mifos-users] Time of charge: Upfront > > And to answer, I think the rules for "upfront" make sense, but the name is > confusing. As far as I've seen, upfront is a one time fee that attaches > itself to the next payment, which could be useful for apply fee's in the > middle of a loan (especially fees for late payments, etc). > > It may be called up-front because fees are credited in the backend before > principal and interest, so once it's applied, it would be the first thing > paid back by the client (ie, up front). > > Agreed though, we could come up with something better. Any ideas? > > r > > > On 8/30/10 16:25, "Gayl Kennedy" <[email protected]> wrote: > > > Thanks Ryan. Why does mifos provide 3 options: > > to pay upfront > > pay at disbursement or > > to pay at time of first loan repayment? > > > > That does not seem to be very logical. > > > > When we say upfront we mean they pay it at time of application so we > > will have to work around this. > > Regards > > Gayl > > > > On 27/08/2010, Ryan Whitney <[email protected]> wrote: > >> > >> Gayl, > >> > >> Upfront merely means the fee is attached to the next scheduled payment, > >> which > >> is why its being attached to the first payment when you apply it during > >> loan > >> application. Time of disbursement is what to you use in the scenario you > >> are > >> referencing. > >> > >> If you¹ve applied it to the loan, it won¹t show up under client charges. > >> Only charges applied directly to the client appear there. > >> > >> r > >> > >> > >> > >> On 8/26/10 21:49, "Gayl Kennedy" <[email protected]> wrote: > >> > >>> hello > >>> I am unclear on what to expect in mifos when the fee is set up to have > >>> time > >>> of charge: upfront. > >>> To me it means they pay it at time of loan application so it should not > >>> show > >>> in the installments, but when I am reviewing a loan it shows the fees > >>> under > >>> installment #1. > >>> > >>> is this a bug or am I misunderstanding how it works? > >>> It does not show under client charges as being due now even when the loan > >>> has been approved. > >> > >> > >> -- > >> Ryan Whitney > >> Mifos Technical Program Manager > >> [email protected] > >> Mifos - Technology that Empowers Microfinance (www.mifos.org) > >> Our mission is to enable the poor, especially the poorest, to create a > >> world > >> without poverty. > >> <http://grameenfoundation.org/take-action/ingenuity-fund-challenge/> > >> P please consider the environment before printing this e-mail. > >> > >> > ----------------------------------------------------------------------------->> > - > >> Sell apps to millions through the Intel(R) Atom(Tm) Developer Program > >> Be part of this innovative community and reach millions of netbook users > >> worldwide. Take advantage of special opportunities to increase revenue and > >> speed time-to-market. Join now, and jumpstart your future. > >> http://p.sf.net/sfu/intel-atom-d2d > >> _______________________________________________ > >> Mifos-users mailing list > >> [email protected] > >> https://lists.sourceforge.net/lists/listinfo/mifos-users > >> > > > > > > -- > Ryan Whitney > Mifos Technical Program Manager > [email protected] > Mifos - Technology that Empowers Microfinance (www.mifos.org) > Our mission is to enable the poor, especially the poorest, to create a world > without poverty. > <http://grameenfoundation.org/take-action/ingenuity-fund-challenge/> > P please consider the environment before printing this e-mail. > > > ------------------------------------------------------------------------------ > Sell apps to millions through the Intel(R) Atom(Tm) Developer Program > Be part of this innovative community and reach millions of netbook users > worldwide. Take advantage of special opportunities to increase revenue and > speed time-to-market. Join now, and jumpstart your future. > http://p.sf.net/sfu/intel-atom-d2d > _______________________________________________ > Mifos-users mailing list > [email protected] > https://lists.sourceforge.net/lists/listinfo/mifos-users ------------------------------------------------------------------------------ This SF.net Dev2Dev email is sponsored by: Show off your parallel programming skills. Enter the Intel(R) Threading Challenge 2010. http://p.sf.net/sfu/intel-thread-sfd _______________________________________________ Mifos-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/mifos-users
