Ed, Thanks for following up on this.
I am guessing you missed out on the second step from the instructions in the email: - submit new loan application (with disbursement date in the past, say a year) making sure to select RBI (India) as the repayment strategy type, The important bit here is the 'RBI (India)' choice as repayment strategy - you probably just continued on with the default 'mifos style' strategy. I created loans like yours under Declan Browne - General: #17 & General: #18 Both loans clearly show that the 'late payment' amount is fully paid off against overdue interest first before any principal. Try it again selecting the RBI strategy Keith. On Fri, Aug 3, 2012 at 11:03 PM, Ed Cable <[email protected]> wrote: > Keith, > > Thanks for spinning this up so quickly so we can test it out. > > I tried creating your scenario on client Declan Browne but the repayment was > still allocated to overdue principal prior to overdue interest. > > Take a look at General Loan #15 and see the repayment schedule. I disbursed > the loan which has weekly installments on Aug 3, 2011 and then made a > repayment on August 2, 2012 of 1500. > > I would have expected all the payment to go to overdue interest since there > are 52 installments overdue but payment was applied only to the 3 first > three installments, clearing out the principal and interest overdue on the > first 2 installments and then clearing out the interest and part of the > principal on the 3rd installment. > > Ed > > > On Tuesday, July 31, 2012 6:46:27 AM UTC-7, keithw wrote: >> >> Ed, All, >> >> Ed in a previous thread: >> https://groups.google.com/forum/?fromgroups#!topic/mifosusers/hCswn7FS9DQ >> you mentioned how '...Adhikar had this same issue so it's clearly >> major priority for users in India due to the revised National Banking >> regulations...' >> >> This is directly applicable to the work we are doing in Mifos X around >> supporting greater flexibiliity in 'Loan Management', specificially >> around the auto generation of loan schedules and how repayments should >> be processed. >> >> I would be interested in hearing more of what Adhihar and others >> require in this area. On the 'repayment processing' side I have >> recently put up simple implementations around this specific to a given >> MFI. I have also added a based 'repayment strategy' named 'RBI >> (India)'. >> >> To see it in action: (demo app url: >> >> https://ec2-46-137-62-163.eu-west-1.compute.amazonaws.com:8443/IndividualLendingGeneralJavaScript/IndivLendHome.html?tenantIdentifier=default) >> >> - go into any client on the demo, >> - submit new loan application (with disbursement date in the past, >> say a year) making sure to select RBI (India) as the repayment >> strategy type, >> - approve it, disburse it and >> - make a late payment against the loan (e.g. a payment on todays >> date, so a year late!) using an amount that is well below the full >> loan amount expected, >> >> you will see that all interest overdue and due is paid off first >> before any principal is paid off which is the bit i gleamed from >> https://mifosforge.jira.com/browse/MIFOS-5636 >> >> I am of course happy to walk through and talk about any of this with >> anyone that wants to. >> >> This also leads me onto the next area of work I will be focusing on >> around loans. To date, some of the smaller organisations trialling >> 'mifos x' have had no need of fees, charges or penalties functionality >> as they didnt use them. But its clearly something used by most MFIs >> inside and outside of the mifos community. So whilst we are aware of >> some of the needs of bigger MFIs we have spoken to such as GK, Enda & >> Al Majmoua (and will probably revisit soon again) if anyone else out >> there such as Adhikar wish to take a look at mifos x and indicate what >> they need, now is a good time to have that conversation as fees, >> charges or penalties are directly applicable to loan scheduling and >> repayment processing functionality. >> >> regards, >> Keith. >> >> >> ------------------------------------------------------------------------------ >> 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. 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