Thanks for the clarification Vishwas.
Ed
On Wed, Aug 14, 2013 at 5:34 AM, Vishwas Babu <vishwasbab...@gmail.com>wrote:
> Ed,
>
> This was put in for one of the early adopters of MifosX
>
> >>They were creating 'irregular' loans - i.e. they thought there were
> creating loan for a year or 12 months but would really be a 48 >>or 49
> week loan or 11 month loan.
>
> We will get around to cleaning this up soon.
>
> Regards,
> Vishwas
>
>
> On 14 August 2013 06:58, Edward Cable <edca...@openmf.org> wrote:
>
>> Is it possible during loan account creation to have the loan term get
>> auto-calculated after # of repayments and repayment frequency has been
>> specified.
>>
>> It seems like a redundant step for users to have to manually fill in both
>> these values and make sure they match up (or at least ensure the # of
>> repayments doesn't exceed the term.)
>>
>> Is the reason why we have the ability to set the term independent of # of
>> installments for those MFIs who calculate flat interest on a term longer
>> than the repayment schedule?
>>
>> In the case of declining balance loans, what matters is the # of
>> repayments and the term doesn't really have any effect.
>>
>> But in the case of flat interest loans, we wouldn't necessarily want to
>> force the # of repayments to match the term.
>>
>> However, more often than not won't the MFI want # of repayments to match
>> the term and we don't want the user to do extra work. I realize we weren't
>> adding constraints initially but this area of flexibility seems to create
>> more work for the system user.
>>
>> In Mifos you simply specified the frequency of repayments and the # of
>> installments.
>>
>> but in Mifos X you can specify independently for example:
>>
>> Term: 52 weeks
>> # of Repayments: 12
>> Repaid every: 2 weeks
>>
>> Forgive me if I'm missing something obvious...
>>
>> Ed
>>
>>
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