Ramya,
Mifos uses "cash" based accounting. Since the expected interest is never
accounted for, interest waivers/writeoffs would not affect accounting
(reference
http://en.wikipedia.org/wiki/Comparison_of_cash_and_accrual_methods_of_accounting
).
Regards,
Vishwas
On 16 April 2013 17:39, Ramya Baskar <[email protected]> wrote:
> **
> Hi all,
>
> Am in need of clarification of write-off in Loan operations of mifos.
>
> Write-off:
> While doing Write-off, in accounting principal only coming but in
> the loan operations both principal,interest and arrears are coming.
> For example,
> For a group, loan disbursal amount is 50000. The group needs
> to pay with interest is 60000. The group didn't pay anything and write-off
> has been done for the group. After write-off while checking
> the accounting, it shown the write-off amount as 50000 only but in the loan
> operations it shown as 60000 with interest.
>
> Can anyone clarify the above.
>
> Thanks in advance!!!!!
>
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