Hey Binny,
Let me put this question again and my suggestions also..
For example MFI has product with 5 installments
Principal is 100. repayment schedule is
20 + 5
20 + 5
20 + 5
20 + 5
20 + 0
So MFI collects 20 as total interest at the rate of 20% for given duration
Now MFI decide go with Mifos, but mifos generates schedule like below
20 + 4
20 + 4
20 + 4
20 + 4
20 + 4
So transition with operational aspect will not happen smoothly. So MFI do
not agree for this approach.
MFI says I want my original schedule for active loan but for new loans we
can go with Mifos generated schedule.
So I have two suggestions
*1.* Define product with 20% and 5 installments but forcefully
.populate repayment schedule as
20 + 5
20 + 5
20 + 5
20 + 5
20 + 0
*Risk is if Mifos triggers recalculation of repayment. Not sure Mifos can
do this *
*
*
*[ If recalculation triggers schedule looks like*
*
20 + 4
20 + 4
20 + 4
20 + 4
20 + 4 ]
*
*
*
*2. Define product with 25% and 5 installments and now also forcefully
.populate repayment schedule as*
20 + 5
20 + 5
20 + 5
20 + 5
20 + 0
*Even if Mifos triggers recalculation only last schedule is effected. But
product definition is wrong.*
*
[ If recalculation triggers schedule looks like
20 + 5
20 + 5
20 + 5
20 + 5
20 + 5 ]
*
If any one has suggestion, please help
Thanks
Nayan GA
On Fri, Sep 24, 2010 at 8:31 PM, Kay Chau <[email protected]>wrote:
> That’s right.
>
>
>
> *From:* Binny Gopinath [mailto:[email protected]]
> *Sent:* Thursday, September 23, 2010 11:54 PM
> *To:* A good place to start for users or folks new to Mifos.
> *Subject:* Re: [Mifos-users] FW: [Mifos-developer] Managing installment
> amounts when migrating fromExcel to MIFOS
>
>
>
> 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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Nayan G. A.
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