Agreed that this not a simple change to make in Mifos given how it is
structured. But I have seen this option configurable at an organization level
in many core banking solutions simply because different organizations have
different way to apportion the repayments made and also have different types of
amounts. Some orgs have penalty and fees, others simply don't have the concept
of Penalty etc but may want just fees or may want fees and penalty interchanged
in order.
And this should be a part of the onetime Initial set up for most organization
- something which is not changeable once Mifos is up and running. I think in
Mifos it is best to put in the applications configuration file but I will let
others comment on the implementation aspect of it.
Thanks
Chetan
From: Krishnan M [mailto:[email protected]]
Sent: Wednesday, February 08, 2012 3:28 PM
To: A good place to start for users or folks new to Mifos.
Subject: Re: [Mifos-users] Change Mifos Loan Repayment Flow
Hello Chetan,
This is the apportionment of receipts.
Changing this has far-reaching effects since it directly affects revenues.
Certain constraints are also applicable: if this is changed, it must apply
uniformly across the organization. Furthermore, i think that such changes are
subject to auditor's approval, and therefore, cannot be changed during the
course of a single accounting period. Do we have something that already
documents this?
regards,
krishnan
On Wed, Feb 8, 2012 at 3:07 PM,
<[email protected]<mailto:[email protected]>> wrote:
Thomas,
As far as I know, this is something fixed in Mifos and modifying this requires
a code change. There was a discussion around making this a configurable feature
but I do not think that has been incorporated as yet.
Will you raise a JIRA ticket so that we can prioritize this for the next
releases ?
Thanks
Chetan
-----Original Message-----
From: Thomas (Uganda) [mailto:[email protected]<mailto:[email protected]>]
Sent: Wednesday, February 08, 2012 2:55 PM
To: [email protected]<mailto:[email protected]>
Subject: [Mifos-users] Change Mifos Loan Repayment Flow
Hi, I understand when a payment is made in Mifos it first deducts (1)
Penalty, (2) Fees, (3) Interest due , and then (4) Capital /
Principle
However i would like to first recover the 1. Capital / Principal, then
2. Interest, then 3.Fees and lastly 4. Penalty
Is it possible for me to change to this flow, because in practice this
seems the norm and a Client insists to have it so, if its possible.
Regards Thomas
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Regards,
Krishnan M
India, skype: krishnanm75
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