Kay, There are times when schedules are 'regenerated' but only future schedules e.g. a new holiday or moratorium is added
I am not too sure what happens in the 'redo loan' case. if this is just a case where you want to represent old data from another system where all the schedules exist in the past then it might be acceptable but it looks like a tailored 'interest calucluation' for loan would need to be added to best solve the problem. KeithW. On Tue, Sep 28, 2010 at 1:32 AM, Kay Chau <[email protected]> wrote: > Thanks Nayan, I’ve decided to cc the dev list as this deals with the code. > > > > Keith, and those who have looked at our code for schedules, is there > anything we do to regenerate schedules? > > > > I would be careful though Nayan as some unexpected behavior might occur. > > > > For example, if you tried to redo a loan, or add holidays, those would need > to change the rest of the schedule – those features might not work as well? > > > > Are you using collection sheet entry? > > > > Kay > > > > From: Nayan Ambali [mailto:[email protected]] > Sent: Friday, September 24, 2010 6:57 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 Kay, > > > > You would like to be able to do this through the backend. > > > > Yes we are doing it from backend > > > > and the question here is would Mifos somehow automatically recalculate the > schedule even after you have set it up this way since the schedule you input > does not match any current Mifos loan product logic. > > > > Yes that is the question. along with that is there any other risk > > > > Thanks > > Nayan GA > > > > > > On Fri, Sep 24, 2010 at 9:35 PM, Kay Chau <[email protected]> > wrote: > > Hi Nayan, > > > > Just want to confirm my understanding. > > > > There is a need here to migrate a loan schedule that is not possible through > the Mifos front end for loan products right now. > > > > You would like to be able to do this through the backend, and the question > here is would Mifos somehow automatically recalculate the schedule even > after you have set it up this way since the schedule you input does not > match any current Mifos loan product logic. > > > > Is that correct? > > > > Kay > > > > From: Nayan Ambali [mailto:[email protected]] > Sent: Friday, September 24, 2010 9:00 AM > > 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 > > > > 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 30th > installment 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 > > > > ------------------------------------------------------------------------------ > Start uncovering the many advantages of virtual appliances > and start using them to simplify application deployment and > accelerate your shift to cloud computing. > http://p.sf.net/sfu/novell-sfdev2dev > ------------------------------------------------------------------------------ > Nokia and AT&T present the 2010 Calling All Innovators-North America contest > Create new apps & games for the Nokia N8 for consumers in U.S. and Canada > $10 million total in prizes - $4M cash, 500 devices, nearly $6M in marketing > Develop with Nokia Qt SDK, Web Runtime, or Java and Publish to Ovi Store > http://p.sf.net/sfu/nokia-dev2dev > _______________________________________________ > Mifos-users mailing list > [email protected] > https://lists.sourceforge.net/lists/listinfo/mifos-users > > > ------------------------------------------------------------------------------ > Start uncovering the many advantages of virtual appliances > and start using them to simplify application deployment and > accelerate your shift to cloud computing. > http://p.sf.net/sfu/novell-sfdev2dev > _______________________________________________ > Mifos-users mailing list > [email protected] > https://lists.sourceforge.net/lists/listinfo/mifos-users > > > -- > Regards > Nayan G. A. > 9901154134 > > ------------------------------------------------------------------------------ > Start uncovering the many advantages of virtual appliances > and start using them to simplify application deployment and > accelerate your shift to cloud computing. > http://p.sf.net/sfu/novell-sfdev2dev > _______________________________________________ > Mifos-users mailing list > [email protected] > https://lists.sourceforge.net/lists/listinfo/mifos-users > > > -- > Regards > Nayan G. A. > 9901154134 > > ------------------------------------------------------------------------------ > Start uncovering the many advantages of virtual appliances > and start using them to simplify application deployment and > accelerate your shift to cloud computing. > http://p.sf.net/sfu/novell-sfdev2dev > ------------------------------------------------------------------------------ Start uncovering the many advantages of virtual appliances and start using them to simplify application deployment and accelerate your shift to cloud computing. http://p.sf.net/sfu/novell-sfdev2dev _______________________________________________ Mifos-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/mifos-users
