Binny, I think you are correct, that the cash in hand wouldn¹t tally until the next day when they corrected their mistake, but I don¹t think this is an issue with Mifos but rather the MFI since they disbursed one amount and entered in a different one in Mifos.
Obviously a MFI with a good cash management process and/or system would probably realize this at the end of the day and might be able to then fix it day of. Ryan On 3/3/11 8:25 AM, "Binny Gopinath" <[email protected]> wrote: > Thanks for the replies. > > Just to ensure I understand fully: > > My simple example: > 1-Jan-2011 - actual disbursement of 9,500. > The data entry operator made the mistake of entering, approving and > disbursing loan with disbursed amount incorrectly as 10,000. > > In Mifos, the General ledger shows a 10000 credit to cash account (the actual > credit should have been for 9500) > i.e. on 1st Jan, the cash in hand and ledger account does not match. > > Now on 2nd of Jan if I reverse the disbursal and redo the loan, and correct > the disbursed amount as 9500: > The cash account for 1st of Jan will remain unchanged. > The cash account for 2nd Jan will have > i) a reversal for the 10,000 (i.e. debit of 10,000) > ii) a credit of 9500 for the amount disbursed > > So, there is net cash debit of 500 on 2nd Jan. > > Is this how Mifos does the accounting internally? > > Satriadi, > If the above is right, then my cash-in-hand and general ledger report will not > match on 1st Jan (i.e. even after I have done a reversal and redo). But will > match on 2nd Jan. Is that correct? > > Thanks > Binny > > > On Thu, Mar 3, 2011 at 9:42 AM, <[email protected]> wrote: >> Hi Binny, >> >> I have done the entire analysis of reverse and redo of loan for KMBI. May be >> I can help you in understanding the case. >> >> Let¹s take a scenario, >> >> There is a loan whose meeting date occurs on every Tuesday of every week. >> Suppose the loan was disbursed on 4th Jan,2011 . So till now following >> transactions has been made against the account. >> >> Loan account A trxns: >> >> >> S.No Type of trxn due date payment date created date >> (entered in mifos) >> >> 1 disbursal 1/4/2011 1/4/2011 1/4/2011 >> 2 2 payment 1/11/2011 1/11/2011 1/11/2011 >> 3 3 payment 1/18/2011 1/18/2011 1/18/2011 >> 4 4 payment 1/25/2011 1/25/2011 1/25/2011 >> 5 5 payment 2/1/2011 2/1/2011 2/1/2011 >> 6 6 payment 2/8/2011 2/8/2011 2/8/2011 >> 7 7 payment 2/15/2011 2/15/2011 2/15/2011 >> 8 8 payment 2/22/2011 2/22/2011 2/22/2011 >> 9 9 payment 3/1/2011 3/1/2011 3/1/2011 >> >> >> >> say reversal happens on 5th March ( all -ve amount trxns) >> >> >> >> S.No Type of trxn due date payment date created date >> (entered in mifos) >> >> 1 disbursal reversal 1/4/2011 1/4/2011 3/5/2011 >> 2 2 paymentreversal 1/11/2011 1/11/2011 3/5/2011 >> 3 3 paymentreversal 1/18/2011 1/18/2011 3/5/2011 >> 4 4 paymentreversal 1/25/2011 1/25/2011 3/5/2011 >> 5 5 paymentreversal 2/1/2011 2/1/2011 3/5/2011 >> 6 6 paymentreversal 2/8/2011 2/8/2011 3/5/2011 >> 7 7 paymentreversal 2/15/2011 2/15/2011 3/5/2011 >> 8 8 paymentreversal 2/22/2011 2/22/2011 3/5/2011 >> 9 9 paymentreversal 3/1/2011 3/1/2011 3/5/2011 >> >> >> say you redo a loan with correct amount on same date 5th march 2011 and while >> redoing selected the disbursal date the same as 4th march 2011 for this >> >> S.No Type of trxn due date payment date created date >> (entered in mifos) >> >> 1 disbursal 1/4/2011 1/4/2011 3/5/2011 >> 2 2 payment 1/11/2011 1/11/2011 3/5/2011 >> 3 3 payment 1/18/2011 1/18/2011 3/5/2011 >> 4 4 payment 1/25/2011 1/25/2011 3/5/2011 >> 5 5 payment 2/1/2011 2/1/2011 3/5/2011 >> 6 6 payment 2/8/2011 2/8/2011 3/5/2011 >> 7 7 payment 2/15/2011 2/15/2011 3/5/2011 >> 8 8 payment 2/22/2011 2/22/2011 3/5/2011 >> 9 9 payment 3/1/2011 3/1/2011 3/5/2011 >> >> >> So, in redo case the trxn dates are again the same(past dates) but the >> amounts of trxn may differ depending on the fact of change in disbursal >> amount. >> >> >> Thanks, >> Ramya >> >> >> >> >> "E-Mail ini dan dokumen lampirannya ditujukan untuk digunakan oleh penerima >> e-mail. 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