Ed, Heres what I think the case to be on mifos at present but things may of changed and maybe jakub and co know better in relation to the existing mifos code base.
I would doubt that mifos is taking into account 'non-working days' when it comes to interest calculation. While it does take it into account for 'the date generation for the loan schedule' theres no reason for me too think that the code is taking into account a difference between working days and non-working days for 'amount of interest owed' calculation. My understanding was that this only impacted the 'date' on which a loan repayment installment fell. keith. On Mon, Jun 4, 2012 at 6:55 PM, Ed Cable <edca...@gmail.com> wrote: > Hello all, > > I had a question regarding support of a loan product a potential Mifos > customer is looking for. > > This MFI has 30 day loans which are repaid daily with Sunday as a > non-working and no interest being charged for Sunday. > > We are looking to implement daily repayment capabilities in Mifos for the > next release. My question is with daily repayment support and the flat > interest method selected with Sunday defined as a non-working day, would > Mifos be able to support this product? > > I wasn't sure if interest would be accrued on the non-working day. Does this > apply only to meeting schedules or since daily repayment is enabled this > would also effect interest calculation. > > Thanks, > > Ed > > ------------------------------------------------------------------------------ > Live Security Virtual Conference > Exclusive live event will cover all the ways today's security and > threat landscape has changed and how IT managers can respond. Discussions > will include endpoint security, mobile security and the latest in malware > threats. http://www.accelacomm.com/jaw/sfrnl04242012/114/50122263/ > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users > ------------------------------------------------------------------------------ Live Security Virtual Conference Exclusive live event will cover all the ways today's security and threat landscape has changed and how IT managers can respond. Discussions will include endpoint security, mobile security and the latest in malware threats. http://www.accelacomm.com/jaw/sfrnl04242012/114/50122263/ _______________________________________________ Mifos-users mailing list Mifos-users@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/mifos-users
