Hi Kisia,
thanks for your reply and sorry for my trouble :)
this is what I expect
loan principal is 20,000
Interest Rate is 10%
Total repaid amount should be 22,000 (10% of 20,000 is 2,000, therefore
principle + interest should be 22,000).
The first screen shot shows
In the installments,
principle shown is 1,999.5
interest *5.5%* instead of 10%
total repaid amount comes to 20,055 instead of 22,00
same for all the other screen shots. the interest, of 10%, is not correclty
reflected.
(simply put, I want 10% interest shown instead of the 5.5% (screen shot 1))
Thanks for corresponding Kisia
Regards
On Monday, 7 January 2013 10:56:47 UTC+3, Kasia Piecielska wrote:
>
> Hi Michael,
>
> I have seen your screen shots. Could you please, tell where is the
> problem? It is not clear from information you sent me. Which repayment
> amounts are still not correct?
>
> Regards,
> Kasia
>
> On 06.01.2013 06:29, Michael Philip wrote:
>
> Screen shots attached.
>
> On Saturday, 5 January 2013 17:26:42 UTC+3, Michael Philip wrote:
>>
>> Hi Kisia,
>>
>> Had about an hour on MIFOS today,
>>
>> Thanks, LSIM worked fine, I can now create loan accounts that have a
>> daily repayment schedule.
>> . . . the repayment amounts are still not correct; see the attached
>> file.
>>
>> is there any way around this or is there something I am missing?
>>
>> Regards
>>
>> On Thursday, 3 January 2013 17:06:37 UTC+3, Kasia Piecielska wrote:
>>>
>>> Hi Michael,
>>>
>>> About you first problem - I already wrote you about turning LSIM on in
>>> database. This option allows you to operate on accounts in any moment and
>>> makes accounts independent from schedules. When LSIM is on, you will be
>>> able e.g to create weekly loan account for client with monthly frequency
>>> meetings.
>>>
>>> Second problem - Algorithm implemented in Mifos is inaccurate for small
>>> amounts. If principal is higher (e.g. 1000) and number of installments is
>>> e.g. 10 everything works fine.
>>>
>>> Best regards,
>>> Kasia
>>>
>>> On 03.01.2013 13:27, Michael Philip wrote:
>>>
>>> Hi all,
>>>
>>> I am still new to MIFOS, probably what I am going to describe is not a
>>> bug but my ignorance
>>> (v2.6.0)
>>>
>>>
>>> 1. When creating loan accounts for clients, loan products that have
>>> a daily or monthly frequency do not show on the drop down list.
>>> 2. The total repayment calculation does not give the expected
>>> figures. e.g, using the example in
>>>
>>> http://mifos.org/functional-specifications/system-processing/interest-calculations-loan-accountsfor
>>> flat rates
>>> Principal is 100, interest 3% number of installments 4
>>> I get for each number of installments, the principal 24.9 and
>>> interest 0.1
>>>
>>> Is there something I am missing in both cases?
>>>
>>> More details in the attached document
>>>
>>> Regards
>>>
>>>
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