Hi KeithW,
This is applicable for current loans only,
I have two points here.
1. Is there no direct solution ?
2. If yes, As I stated which solution is less risky ( I prefer Solution
2 ).
==============
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 ]
>
>
>
Thanks
Nayan GA
On Tue, Sep 28, 2010 at 6:17 AM, Keith Woodlock <[email protected]>wrote:
> 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
> >
> >
> >
> >
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> >
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> > and start using them to simplify application deployment and
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> >
> >
> > --
> > 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.
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> > Mifos-users mailing list
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> >
> >
> > --
> > 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.
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> >
>
>
> ------------------------------------------------------------------------------
> 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
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> https://lists.sourceforge.net/lists/listinfo/mifos-users
>
--
Regards
Nayan G. A.
9901154134
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