Amit,
I dont think this is right as per international accounting standards.
A written off loan should be classified as closed i.e. should not be reopened
and relevant expense entries must be passed. When the same loan is recovered it
should be realized as income under Written off loans recovered.
Lets hear the views of other users before changing the system.
Regards,
Zayyad A. Said
Sent from Samsung tablet
AMIT JAIN <[email protected]> wrote:
Hello,
So many times it happens that we classified a loan as write-off as per norms
but many clients come and settle or repay their loans to change their status
from default to regular in Credit Bureau
Please help on that.
Regards
On Sat, Oct 11, 2014 at 9:51 AM, Santosh Math <[email protected]>
wrote:
Hi Raj,
Writing-off loan means, in other words, closing the loan. I need to know why
you do want to change a write-off loan to close(as rescheduled). This feature
is not yet available in MifosX.
On Fri, Oct 10, 2014 at 8:03 PM, Raj Jain <[email protected]> wrote:
PLEASE ADVISE THE STEPS TO BE TAKEN TO CHANGE A WRITE-OFF LOAN TO CLOSE AS
(RE-SCHEDULED)
REGARDS,
Raj Jain
Executive Director
RARA Group
Direct: +256.772.739.999
Direct: +256.777.166.392
Tel: +256.414.251.251
skype Id: rarainc
email: [email protected]
website: www.rarainfotech.com
Address: Raja Chambers, Suite 11-14, Parliament Ave, Plot no 3, Kampala,
Uganda
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