Thanks Krishnan, This point is well taken that end result in currency requires currency rounding. Mifos take care of that, DigitAfterDecimal is for display currency in Mifos.
Mifos has lot's of configuration related to internal calculation apart from display rules and currency rounding which are confusingly named as AccountingRules.* where those are actually to modify behavior of calculation and rounding. Starts from line 154 https://github.com/mifos/head/blob/master/appdomain/src/main/resources/org/mifos/config/resources/applicationConfiguration.default.properties#L154 I would say those AccountingRules.* are mostly Mifos CalculationRules.* (If I could rename them) and not all of them are for end result. I just wanted to check about DigitAfterDecimalForCashFlowValidation, if there is dependency and it can be made internal setting. Udai On Thu, Nov 24, 2011 at 3:07 AM, Krishnan Mani <[email protected]> wrote: > Hello Udai, > > i apologise but i haven't looked at the corresponding code and > implementation. However, i have something to offer in terms of functionality > (and therefore, i am forwarding this to the user mailing list as well). > > Accounting itself does not entertain entries with a precision that exceeds > the precision of money amounts as they are in the real world. > > To try and illustrate: the loan management system may compute and use > intermediate amounts (such as interest for a particular time period) that > temporarily are a different precision than the required (say, two digits > after decimal). The necessary rounding rules must kick into action when the > results of such calculations produce "final" computed amounts > > However, in accounting, for example, it is not acceptable for an accountant > to record journal entries (such as Dr. Cash by INR23.5675/-, and Cr. Loans > Made by the same) that are to an unrealistic precision. She cannot even make > a series of entries that have the cumulative effect (with other journal > entries such as Dr.Cash by INR23.5625/-, etc.) that all result in a > "realistic" precision. Each entry must follow the rules for the integrity of > double-entry accounting, as must all entries taken together. > > Of course, the accountant does make other "rounding" adjustments, but these > are in a different sense and context, and their material impact, if any, > must also be documented and disclosed. > > So, the question of "MORE" precision in accounting than in the loan > management system does not arise. If "lower" precision is chosen, it will > necessarily produce (in an unpredictable way) differences in amounts > reported between accounting and loan management > > There's my .02 > i might be able to look at the implementation later and provide more insight > as to whether this is a misnomer, or a result of the current implementation > with a perfectly "valid" explanation in the local sense. > > thank you, > krishnan > > On Thu, Nov 24, 2011 at 12:59 PM, Udai Gupta <[email protected]> wrote: >> >> Hi, >> >> I was just wondering why this new configuration is required >> AccountingRules.DigitsAfterDecimalForCashFlowValidations. Shouldn't >> this be depended on or derived from AccountingRules.DigitsAfterDecimal >> if more precision is required. >> >> I am guessing AccountingRules.DigitsAfterDecimalForCashFlowValidations >> = AccountingRules.DigitsAfterDecimal + 1; (more precision is required >> for calculation) which can be an internal property. >> >> I haven't looked at this in detail so if there is an obvious reason >> why this should be left for user to decide what precision should be >> used for CashFlowValidation then I would vote for removing this. >> >> Udai >> >> >> ------------------------------------------------------------------------------ >> All the data continuously generated in your IT infrastructure >> contains a definitive record of customers, application performance, >> security threats, fraudulent activity, and more. Splunk takes this >> data and makes sense of it. IT sense. And common sense. >> http://p.sf.net/sfu/splunk-novd2d >> Mifos-developer mailing list >> [email protected] >> Unsubscribe or change settings at: >> https://lists.sourceforge.net/lists/listinfo/mifos-developer > > > > -- > Regards, > > Krishnan Mani, > for MOSTFIT > > (email) [email protected] > (cell) +91 93 26 36 46 39 > > ------------------------------------------------------------------------------ > All the data continuously generated in your IT infrastructure > contains a definitive record of customers, application performance, > security threats, fraudulent activity, and more. Splunk takes this > data and makes sense of it. IT sense. And common sense. > http://p.sf.net/sfu/splunk-novd2d > Mifos-developer mailing list > [email protected] > Unsubscribe or change settings at: > https://lists.sourceforge.net/lists/listinfo/mifos-developer > ------------------------------------------------------------------------------ All the data continuously generated in your IT infrastructure contains a definitive record of customers, application performance, security threats, fraudulent activity, and more. Splunk takes this data and makes sense of it. IT sense. And common sense. http://p.sf.net/sfu/splunk-novd2d _______________________________________________ Mifos-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/mifos-users
