Hi Emily,
Adding a holiday would change the schedule, but the amounts themselves would
not get modified, right?
i.e. the amount due on the holiday would just be added to the next
installment (if it is set to be collected in the next meeting).
I want to pre-populate the amounts (with fixed amounts and not
auto-calculated amounts).
Thanks
Binny
On Fri, Sep 24, 2010 at 3:29 AM, Emily Tucker <[email protected]
> wrote:
> Hi Binny,
>
>
>
> Moving this to mifos-users, since I think this is the more appropriate list
> for your question.
>
>
>
> Others on the list can keep me honest, but no—I do not know of any scenario
> where Mifos would change past installment amounts or the previous
> installment schedule. Obviously if you add a holiday, that will change the
> future repayment schedule—but nothing should impact the previous payments
> made.
>
>
>
> Cheers,
>
> Emily
>
>
>
> *From:* Binny Gopinath Sreevas [mailto:[email protected]]
> *Sent:* Thursday, September 23, 2010 5:13 AM
> *To:* 'Mifos software development'
> *Subject:* [Mifos-developer] Managing installment amounts when migrating
> fromExcel to MIFOS
>
>
>
> All,
>
>
>
> For an implementation, we are migrating from an Excel-based MIS to MIFOS:
>
> For example: installment amount in Mifos would be 592.17 for:
>
> Loan amount: 15,300
>
> Interest: 14% Flat
>
> Number of Installments: 30 (once in 14 days)
>
>
>
> However, this is an active loan and MFI has been collecting 595 (rounded
> off) for each installment.
>
> This rounding off will be different for each loan amount and hence cannot
> be accommodated using our rounding rules.
>
>
>
> We are thinking of using migration scripts to create the active loans and
> their corresponding scheduled installment amounts in Mifos.
>
> In the above example, this will be 29 installments of 595 and 30thinstallment
> of 510.
>
> Can this approach fail at any future point?
>
> (as in, can any event in Mifos trigger re-computing of installment
> amounts?)
>
>
>
> If we were to allow Mifos to re-compute installment amounts, future
> installments will be different from 595.
>
> And, if we were to ask loan officers to continue collecting 595, then the
> branch cash confirmation report will always be off.
>
> If we ask the loan officers to collect the new amount as per Mifos, it
> would need a lot of training to be given to both loan officers and group
> members.
>
> This would be painful for the MFI.
>
>
>
> *Note*: Only the currently active loans will face this issue.
>
> All new loans will be collected as per schedule that Mifos generates.
>
>
> --
> Thanks and Regards
> Binny Gopinath Sreevas
> +91-98861 39498
> Skype: binny.gopinath
>
>
>
>
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