One possible scenario that can cause this is because the waiver is done on the
same day as the last repayment transaction (or before the last repayment
transaction).
If repayment was done on 1st Sep 2014 and the waive is also done on the same
day, what happens is :
a) Mifos computes interest that is due on 1st Sep (this includes interest
that is already paid on 1st Sep) – this amount is higher than what Mifos
current shows as “interest outstanding”
b) Mifos waives off interest (which includes interest that was already
paid on 1st Sep)
c) The amount that was earlier paid towards interest is now adjusted
towards future principal – based on repayment strategy
d) This leaves some part of interest that is still due
You could try waiving interest on the day after the last repayment was made.
Thanks
Binny
From: Binny Gopinath Sreevas [mailto:[email protected]]
Sent: 17 October 2014 13:29
To: 'Mifos software development'; 'A good place to start for users or folks new
to Mifos.'
Subject: RE: [Mifos-developer] Issue with Waive Interest
Hi Srini,
Could you also send the product definition, repayment schedule screens and also
the waive screen before you submitted the waiver?
Would like to know the exact product, loan details and the date on which you
did the waiver.
Thanks
Binny
From: srinivasa Rao Yedida [mailto:[email protected]]
Sent: 17 October 2014 11:28
To: A good place to start for users or folks new to Mifos.; Mifos software
development
Subject: [Mifos-developer] Issue with Waive Interest
HI
I want to pre close the loan that purpose waived total loan Interest, after
then changing Outstanding Balance and appear extra Interest balance
For more details please refer attachment
Please provide clarity on this
Thanks
Srinivasarao Yedida
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