Thank you for your e-mail
Jean
Africanet
On Thu, Dec 8, 2016 at 7:23 AM, <mifos-users-requ...@lists.sourceforge.net>
wrote:
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> Today's Topics:
>
> 1. Re: [Mifos-developer] Error while updating the database
> (mifos 16.11) (Zayyad A. Said)
> 2. Issues in interest recalculation (Sander van der Heyden)
> 3. Calling all innovators... (Ed Cable)
> 4. Re: Issues in interest recalculation (Adi Raju)
> 5. Re: Issues in interest recalculation (Sander van der Heyden)
> 6. Re: Issues in interest recalculation (Adi Raju)
>
>
> ----------------------------------------------------------------------
>
> Message: 1
> Date: Tue, 29 Nov 2016 02:00:23 +0300
> From: "Zayyad A. Said" <zay...@intrasofttechnologies.com>
> Subject: Re: [Mifos-users] [Mifos-developer] Error while updating the
> database (mifos 16.11)
> To: "'Mifos software development'"
> <mifos-develo...@lists.sourceforge.net>, "'A good place to
> start for
> users or folks new to Mifos.'" <mifos-users@lists.sourceforge.net
> >
> Message-ID:
> <004401d249cb$350933f0$9f1b9bd0$@intrasofttechnologies.com>
> Content-Type: text/plain; charset="utf-8"
>
> Immanuel,
>
>
>
> This looks like your error here:
>
>
>
> FlywayException: Migration of schema `mifostenant-default` to version 322
> failed! Please restore backups and roll back database and code!;
>
>
>
> Follow the guide provided on this link to resolve it and you should be
> good: https://mifosforge.jira.com/wiki/display/docs/Failed+
> Upgrade+Tips+Mifos+X
>
>
>
> Regards;
>
>
>
> *******
>
> Zayyad A. Said | Chairman & C.E.O
>
>
>
> Cell No.: +254 716 615274 | Skype: zsaid2011
>
> Email: <mailto:zay...@intrasofttechnologies.com>
> zay...@intrasofttechnologies.com
>
>
>
> Email banner
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>
>
> From: Immanuel Jeyaraj [mailto:sefie...@gmail.com]
> Sent: 29 November 2016 01:50
> To: Mifos software development; A good place to start for users or folks
> new to Mifos.
> Subject: [Mifos-developer] Error while updating the database (mifos 16.11)
>
>
>
> Dear All,
>
>
>
> Tried upgrading mifos installation to 16.11 and was hit with error.
>
>
>
> Attached is the catalina.out file.
>
>
>
> warmest regards,
>
> Immanuel
>
>
>
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> ------------------------------
>
> Message: 2
> Date: Mon, 5 Dec 2016 12:36:18 +0100
> From: Sander van der Heyden <sandervanderhey...@musonisystem.com>
> Subject: [Mifos-users] Issues in interest recalculation
> To: d...@fineract.incubator.apache.org, "A good place to start for
> users or folks new to Mifos." <mifos-users@lists.sourceforge.net
> >
> Message-ID:
> <CAKEwc2SJQX9APX2kas6hh1bDsYpCsGYU_aSNH1gFiJnQSrS=Ug@mail.
> gmail.com>
> Content-Type: text/plain; charset="utf-8"
>
> Hi All,
>
> We've been doing a relatively extensive round of testing on interest
> recalculation loans and found the following issues (on demo.openmf.org).
> All of the cases below have:
> - Interest recalculation on
> - Interest calculation = same as repayment period
> - Amortization set to Equal instalments
> - Advance payments set to Reduce EMI Amount
> - No grace periods
> - No sliding interest rates, or multi-disbursements
> - No fixed EMI amounts
>
> I've not yet created JIRA items on it, because I was wondering whether
> other people had seen these and there was a work-around by specifying the
> right params? Also when trying to debug some of this I think the
> calculations have now been made so incredibly complex that it is very hard
> to fix some of these without creating other bugs in exchange.
>
> *Daily interest on Same as Repayment period*
> On monthly loans, even though same as repayment period is selected, the
> interest calculation seems to happen on a daily basis. We see jumps up and
> down in the schedule, which should not happen especially before any
> payments are made, as in that case the interest calculation should be
> identical for each month (we are using same as repayment period) and
> therefore the interest amount should always drop month over month, with
> principal going up.
>
> *Incorrect interest in Loan Schedule for first instalment when making an
> early payment*
> When setting up any interest recalculation loan, and making an early
> payment on the first instalment, this updates the schedule with all of it
> going to principal, leaving the interest outstanding. However the actual
> transaction does split part of it to interest and so does the loan summary.
> In subsequent instalments this no longer happens.
>
> *Interest recalculation causes incorrect schedule with duplicate
> instalments*
> On a daily loan, when an installment was originally due on a weekend day,
> it get's pushed forward, skipping that day correctly. However in
> recalculation this is no longer happening therefore introducing 2
> installments on the same date one with a 0 length. So what happens is
> pre-correction you have an instalment on the 3rd of December, then one on
> the 5th (skipping sunday). After the payment and recalculation it has 2
> instalments due on the 5th, one with 0 days and no interest.
>
> *Single instalment loans do not recalculate*
> When a loan with 1 instalment is created and the client prepays on that one
> instalment, interest is not recalculated.
>
> *Early payment of all principal throws an EMI error*
> When repaying the full principal due on the loan in an early instalment it
> throws an EMI error, which should not happen, there is still a bit of
> interest to pay, but no more principal. This means the schedule should just
> show that interest remaining (or close the loan as there is no interest).
>
>
> Thanks,
> Sander
> -------------- next part --------------
> An HTML attachment was scrubbed...
>
> ------------------------------
>
> Message: 3
> Date: Tue, 6 Dec 2016 19:58:07 -0800
> From: Ed Cable <edca...@mifos.org>
> Subject: [Mifos-users] Calling all innovators...
> To: u...@fineract.incubator.apache.org, mifos-users
> <mifos-users@lists.sourceforge.net>
> Message-ID:
> <CAPnWRThGF9f2F32B0YiO53JXgkvs9JyrWBjrMkhtRsqJ3xT38w@mail.
> gmail.com>
> Content-Type: text/plain; charset="utf-8"
>
> CGAP is funding digital finance frontiers pilots in Sub-Saharan Africa.
>
> Expressions of Interest are due January 9, 2017.
>
> Ed
> ---------- Forwarded message ----------
> From: CGAP <c...@worldbank.org>
> Date: Tue, Dec 6, 2016 at 9:59 AM
> Subject: CGAP Newsflash | Partner with CGAP to Push the Frontiers of
> Digital Finance
> To: edca...@mifos.org
>
>
> CGAP seeks innovative ideas for piloting in Sub-Saharan Africa
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> *Does your organization have an innovative idea for a new or enhanced
> digital financial product or service that meets the needs of low-income
> customers in Sub-Saharan Africa?* If so, CGAP wants to hear from you
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> We are currently looking to support firms and organizations--Fintech
> companies, bank and non-bank financial services providers, or other players
> in the financial services space--by covering the costs of piloting an
> innovation that:
>
> *a)* Leverages the attributes of a digital channel to significantly improve
> the delivery of financial services, expand usage or enhance the customer
> experience
>
> and/or
>
> *b)* Tests a new financial product, service or use case that addresses a
> financial need and has a compelling value proposition for the customer
> relative to existing formal and informal alternatives.
>
> Ideas should be an innovation for the Sub-Saharan market, be relevant for
> financial inclusion, have the potential to scale up, be fully digital or
> have a significant digital component, and be ready to pilot within three
> months of selection in Spring 2017.
>
> The deadline to submit an Expression of Interest is *January 9, 2017*.
>
>
> Learn More and Apply >>
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> -------------- next part --------------
> An HTML attachment was scrubbed...
>
> ------------------------------
>
> Message: 4
> Date: Wed, 7 Dec 2016 15:50:21 +0530
> From: "Adi Raju" <adi.r...@confluxtechnologies.com>
> Subject: Re: [Mifos-users] Issues in interest recalculation
> To: <d...@fineract.incubator.apache.org>, "'A good place to start
> for
> users or folks new to Mifos.'" <mifos-users@lists.sourceforge.net
> >
> Message-ID: <065401d25073$862f3eb0$928dbc10$@confluxtechnologies.com>
> Content-Type: text/plain; charset="UTF-8"
>
> Hi Sander,
>
> Interest recalculation is allowed only when "Calculate interest for exact
> days in partial period" is enabled in product definition.
> Consider the scenario: holidays calendar is empty, all days are considered
> working days and payments are always on time, you will see the interest
> applied equally with interest rate 1% considering 12%pa interest with
> monthly payment period.
>
> In case there is any date difference due to holidays/working days
> consideration or early payments etc, the calculation happens as follows:
> Assume installment is falling on 1st Feb, but due to holiday the
> installment is postponed to 2nd Feb and consider 12%pa interest rate.
> Interest for the whole month of Jan is calculated at 1% and interest for
> the 1 additional day in Feb is calculated as 1%*(1/28).
> For the installment on 1st Mar, interest is calculated as 1%*(27/28) would
> be used.
> This is how the current interest recalculation happens to make sure the
> interest is collected for each and every day.
> And partial interest for any day is calculated based on the number of days
> in the loan installment period.
>
> I am unable to reproduce other issues that you have mentioned. Looks like
> they are linked to some other factors as well. If you can reproduce them on
> demo.openmf.org and provide with loan ids or relevant details, we can get
> back with clarifications or verify if it is really a bug.
>
> Regards,
> Adi Raju
>
> Principal Architect, Conflux Technologies Pvt Ltd
> Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru,
> Karnataka, 560043 INDIA
>
>
> Disclaimer: The information contained in this e-mail message and any
> files/attachment transmitted with it is confidential and for the sole use
> of the intended recipient(s) or entity identified. If you are not the
> intended recipient, please email: supp...@confluxtechnologies.com and
> destroy/delete all copies and attachment thereto along with the original
> message. Any unauthorised review, use, disclosure, dissemination,
> forwarding, printing or copying of this email or any action taken in
> reliance on this e-mail is strictly prohibited and is unlawful. The
> recipient acknowledges that Conflux Technologies Private Limited or its
> subsidiaries and associated companies are unable to exercise control or
> ensure or guarantee the integrity of/over the contents of the information
> contained in e-mail transmissions. Before opening any attachments, please
> check.
>
>
>
>
> -----Original Message-----
> From: Sander van der Heyden [mailto:sandervanderhey...@musonisystem.com]
> Sent: 05 December 2016 17:06
> To: d...@fineract.incubator.apache.org; A good place to start for users or
> folks new to Mifos.
> Subject: Issues in interest recalculation
>
> Hi All,
>
> We've been doing a relatively extensive round of testing on interest
> recalculation loans and found the following issues (on demo.openmf.org).
> All of the cases below have:
> - Interest recalculation on
> - Interest calculation = same as repayment period
> - Amortization set to Equal instalments
> - Advance payments set to Reduce EMI Amount
> - No grace periods
> - No sliding interest rates, or multi-disbursements
> - No fixed EMI amounts
>
> I've not yet created JIRA items on it, because I was wondering whether
> other people had seen these and there was a work-around by specifying the
> right params? Also when trying to debug some of this I think the
> calculations have now been made so incredibly complex that it is very hard
> to fix some of these without creating other bugs in exchange.
>
> *Daily interest on Same as Repayment period* On monthly loans, even though
> same as repayment period is selected, the interest calculation seems to
> happen on a daily basis. We see jumps up and down in the schedule, which
> should not happen especially before any payments are made, as in that case
> the interest calculation should be identical for each month (we are using
> same as repayment period) and therefore the interest amount should always
> drop month over month, with principal going up.
>
> *Incorrect interest in Loan Schedule for first instalment when making an
> early payment* When setting up any interest recalculation loan, and making
> an early payment on the first instalment, this updates the schedule with
> all of it going to principal, leaving the interest outstanding. However the
> actual transaction does split part of it to interest and so does the loan
> summary.
> In subsequent instalments this no longer happens.
>
> *Interest recalculation causes incorrect schedule with duplicate
> instalments*
> On a daily loan, when an installment was originally due on a weekend day,
> it get's pushed forward, skipping that day correctly. However in
> recalculation this is no longer happening therefore introducing 2
> installments on the same date one with a 0 length. So what happens is
> pre-correction you have an instalment on the 3rd of December, then one on
> the 5th (skipping sunday). After the payment and recalculation it has 2
> instalments due on the 5th, one with 0 days and no interest.
>
> *Single instalment loans do not recalculate* When a loan with 1 instalment
> is created and the client prepays on that one instalment, interest is not
> recalculated.
>
> *Early payment of all principal throws an EMI error* When repaying the
> full principal due on the loan in an early instalment it throws an EMI
> error, which should not happen, there is still a bit of interest to pay,
> but no more principal. This means the schedule should just show that
> interest remaining (or close the loan as there is no interest).
>
>
> Thanks,
> Sander
>
>
>
>
> ------------------------------
>
> Message: 5
> Date: Wed, 7 Dec 2016 17:53:32 +0100
> From: Sander van der Heyden <sandervanderhey...@musonisystem.com>
> Subject: Re: [Mifos-users] Issues in interest recalculation
> To: d...@fineract.incubator.apache.org
> Cc: "A good place to start for users or folks new to Mifos."
> <mifos-users@lists.sourceforge.net>
> Message-ID:
> <CAKEwc2TNt1h=6SXV-3kNiGT+55LVnPUgU1SLhm74nSAjM+bpKQ@
> mail.gmail.com>
> Content-Type: text/plain; charset="utf-8"
>
> Hi Adi,
>
> Thanks for your feedback. I already left some test cases on the demo (but
> have updated the same product in between so you'll need to check the
> derived data for these). I'll work on some more cases that we've seen
> locally tomorrow, but these are the ones that were already there.
>
>
> *Incorrect interest in Loan Schedule for first instalment when making an
> early payment*
> See https://demo.openmf.org/#/viewloanaccount/302, where you see 3.85 of
> interest paid on the summary and loan transactions, yet the 3.85 is still
> due on the instalment and if you look at the schedule via the API is
> reported as outstanding interest (which the transaction has already paid).
>
>
> *Interest recalculation causes incorrect schedule with
> duplicate instalments*
> For the daily loans with duplicate instalments see:
> https://demo.openmf.org/#/viewloanaccount/304, where you can see that 2
> payments fall due on the same day. If you undo disburse the loan and
> preview the schedule before disbursement you'll not see duplicate payments
> on the same day.
>
> Thanks,
> Sander
>
>
>
>
> Sander van der Heyden
>
> CTO Musoni Services
>
>
>
>
> Mobile (NL): +31 (0)6 14239505
> Skype: s.vdheyden
> Website: musonisystem.com
> Follow us on Twitter! <https://twitter.com/musonimfi>
> Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam,
> The Netherlands
>
> On 7 December 2016 at 11:20, Adi Raju <adi.r...@confluxtechnologies.com>
> wrote:
>
> > Hi Sander,
> >
> > Interest recalculation is allowed only when "Calculate interest for exact
> > days in partial period" is enabled in product definition.
> > Consider the scenario: holidays calendar is empty, all days are
> considered
> > working days and payments are always on time, you will see the interest
> > applied equally with interest rate 1% considering 12%pa interest with
> > monthly payment period.
> >
> > In case there is any date difference due to holidays/working days
> > consideration or early payments etc, the calculation happens as follows:
> > Assume installment is falling on 1st Feb, but due to holiday the
> > installment is postponed to 2nd Feb and consider 12%pa interest rate.
> > Interest for the whole month of Jan is calculated at 1% and interest for
> > the 1 additional day in Feb is calculated as 1%*(1/28).
> > For the installment on 1st Mar, interest is calculated as 1%*(27/28)
> would
> > be used.
> > This is how the current interest recalculation happens to make sure the
> > interest is collected for each and every day.
> > And partial interest for any day is calculated based on the number of
> days
> > in the loan installment period.
> >
> > I am unable to reproduce other issues that you have mentioned. Looks like
> > they are linked to some other factors as well. If you can reproduce them
> on
> > demo.openmf.org and provide with loan ids or relevant details, we can
> get
> > back with clarifications or verify if it is really a bug.
> >
> > Regards,
> > Adi Raju
> >
> > Principal Architect, Conflux Technologies Pvt Ltd
> > Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block,
> Bengaluru,
> > Karnataka, 560043 INDIA
> >
> >
> > Disclaimer: The information contained in this e-mail message and any
> > files/attachment transmitted with it is confidential and for the sole use
> > of the intended recipient(s) or entity identified. If you are not the
> > intended recipient, please email: supp...@confluxtechnologies.com and
> > destroy/delete all copies and attachment thereto along with the original
> > message. Any unauthorised review, use, disclosure, dissemination,
> > forwarding, printing or copying of this email or any action taken in
> > reliance on this e-mail is strictly prohibited and is unlawful. The
> > recipient acknowledges that Conflux Technologies Private Limited or its
> > subsidiaries and associated companies are unable to exercise control or
> > ensure or guarantee the integrity of/over the contents of the information
> > contained in e-mail transmissions. Before opening any attachments, please
> > check.
> >
> >
> >
> >
> > -----Original Message-----
> > From: Sander van der Heyden [mailto:sandervanderhey...@musonisystem.com]
> > Sent: 05 December 2016 17:06
> > To: d...@fineract.incubator.apache.org; A good place to start for users
> or
> > folks new to Mifos.
> > Subject: Issues in interest recalculation
> >
> > Hi All,
> >
> > We've been doing a relatively extensive round of testing on interest
> > recalculation loans and found the following issues (on demo.openmf.org).
> > All of the cases below have:
> > - Interest recalculation on
> > - Interest calculation = same as repayment period
> > - Amortization set to Equal instalments
> > - Advance payments set to Reduce EMI Amount
> > - No grace periods
> > - No sliding interest rates, or multi-disbursements
> > - No fixed EMI amounts
> >
> > I've not yet created JIRA items on it, because I was wondering whether
> > other people had seen these and there was a work-around by specifying the
> > right params? Also when trying to debug some of this I think the
> > calculations have now been made so incredibly complex that it is very
> hard
> > to fix some of these without creating other bugs in exchange.
> >
> > *Daily interest on Same as Repayment period* On monthly loans, even
> though
> > same as repayment period is selected, the interest calculation seems to
> > happen on a daily basis. We see jumps up and down in the schedule, which
> > should not happen especially before any payments are made, as in that
> case
> > the interest calculation should be identical for each month (we are using
> > same as repayment period) and therefore the interest amount should always
> > drop month over month, with principal going up.
> >
> > *Incorrect interest in Loan Schedule for first instalment when making an
> > early payment* When setting up any interest recalculation loan, and
> making
> > an early payment on the first instalment, this updates the schedule with
> > all of it going to principal, leaving the interest outstanding. However
> the
> > actual transaction does split part of it to interest and so does the loan
> > summary.
> > In subsequent instalments this no longer happens.
> >
> > *Interest recalculation causes incorrect schedule with duplicate
> > instalments*
> > On a daily loan, when an installment was originally due on a weekend day,
> > it get's pushed forward, skipping that day correctly. However in
> > recalculation this is no longer happening therefore introducing 2
> > installments on the same date one with a 0 length. So what happens is
> > pre-correction you have an instalment on the 3rd of December, then one on
> > the 5th (skipping sunday). After the payment and recalculation it has 2
> > instalments due on the 5th, one with 0 days and no interest.
> >
> > *Single instalment loans do not recalculate* When a loan with 1
> instalment
> > is created and the client prepays on that one instalment, interest is not
> > recalculated.
> >
> > *Early payment of all principal throws an EMI error* When repaying the
> > full principal due on the loan in an early instalment it throws an EMI
> > error, which should not happen, there is still a bit of interest to pay,
> > but no more principal. This means the schedule should just show that
> > interest remaining (or close the loan as there is no interest).
> >
> >
> > Thanks,
> > Sander
> >
> >
> -------------- next part --------------
> An HTML attachment was scrubbed...
>
> ------------------------------
>
> Message: 6
> Date: Thu, 8 Dec 2016 10:53:37 +0530
> From: "Adi Raju" <adi.r...@confluxtechnologies.com>
> Subject: Re: [Mifos-users] Issues in interest recalculation
> To: <d...@fineract.incubator.apache.org>
> Cc: "'A good place to start for users or folks new to Mifos.'"
> <mifos-users@lists.sourceforge.net>
> Message-ID: <085201d25113$3cd27660$b6776320$@confluxtechnologies.com>
> Content-Type: text/plain; charset="UTF-8"
>
> Hi Sander
>
> PSB
>
> Regards,
> Adi Raju
>
> Principal Architect, Conflux Technologies Pvt Ltd
> Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru,
> Karnataka, 560043 INDIA
>
>
> Disclaimer: The information contained in this e-mail message and any
> files/attachment transmitted with it is confidential and for the sole use
> of the intended recipient(s) or entity identified. If you are not the
> intended recipient, please email: supp...@confluxtechnologies.com and
> destroy/delete all copies and attachment thereto along with the original
> message. Any unauthorised review, use, disclosure, dissemination,
> forwarding, printing or copying of this email or any action taken in
> reliance on this e-mail is strictly prohibited and is unlawful. The
> recipient acknowledges that Conflux Technologies Private Limited or its
> subsidiaries and associated companies are unable to exercise control or
> ensure or guarantee the integrity of/over the contents of the information
> contained in e-mail transmissions. Before opening any attachments, please
> check.
>
>
>
>
> -----Original Message-----
> From: Sander van der Heyden [mailto:sandervanderhey...@musonisystem.com]
> Sent: 07 December 2016 22:24
> To: d...@fineract.incubator.apache.org
> Cc: A good place to start for users or folks new to Mifos.
> Subject: Re: Issues in interest recalculation
>
> Hi Adi,
>
> Thanks for your feedback. I already left some test cases on the demo (but
> have updated the same product in between so you'll need to check the
> derived data for these). I'll work on some more cases that we've seen
> locally tomorrow, but these are the ones that were already there.
>
>
> *Incorrect interest in Loan Schedule for first instalment when making an
> early payment* See https://demo.openmf.org/#/viewloanaccount/302, where
> you see 3.85 of interest paid on the summary and loan transactions, yet the
> 3.85 is still due on the instalment and if you look at the schedule via the
> API is reported as outstanding interest (which the transaction has already
> paid).
>
> [Adi] In case of interest recalculation enabled loans, there is no way to
> realise a complete EMI components whose due date is in the future. Any
> early payments gets adjusted to the principal, and hence there will be some
> interest component which will remain due as of the future due date. From
> calculations or schedule point of view the early paid amount is completely
> getting adjusted to Principal and interest is pending.
> Repayment strategy decides the splitting of components in a transaction.
> Looks like the repayment strategy needs a correction not to consider the
> interest component in case of early payment.
>
> *Interest recalculation causes incorrect schedule with duplicate
> instalments* For the daily loans with duplicate instalments see:
> https://demo.openmf.org/#/viewloanaccount/304, where you can see that 2
> payments fall due on the same day. If you undo disburse the loan and
> preview the schedule before disbursement you'll not see duplicate payments
> on the same day.
> [Adi] As I see original schedule is fine, but during repayments some
> duplicates are seen. This is definitely a bug.
>
> Thanks,
> Sander
>
>
>
>
> Sander van der Heyden
>
> CTO Musoni Services
>
>
>
>
> Mobile (NL): +31 (0)6 14239505
> Skype: s.vdheyden
> Website: musonisystem.com
> Follow us on Twitter! <https://twitter.com/musonimfi> Postal address:
> Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam, The Netherlands
>
> On 7 December 2016 at 11:20, Adi Raju <adi.r...@confluxtechnologies.com>
> wrote:
>
> > Hi Sander,
> >
> > Interest recalculation is allowed only when "Calculate interest for
> > exact days in partial period" is enabled in product definition.
> > Consider the scenario: holidays calendar is empty, all days are
> > considered working days and payments are always on time, you will see
> > the interest applied equally with interest rate 1% considering 12%pa
> > interest with monthly payment period.
> >
> > In case there is any date difference due to holidays/working days
> > consideration or early payments etc, the calculation happens as follows:
> > Assume installment is falling on 1st Feb, but due to holiday the
> > installment is postponed to 2nd Feb and consider 12%pa interest rate.
> > Interest for the whole month of Jan is calculated at 1% and interest
> > for the 1 additional day in Feb is calculated as 1%*(1/28).
> > For the installment on 1st Mar, interest is calculated as 1%*(27/28)
> > would be used.
> > This is how the current interest recalculation happens to make sure
> > the interest is collected for each and every day.
> > And partial interest for any day is calculated based on the number of
> > days in the loan installment period.
> >
> > I am unable to reproduce other issues that you have mentioned. Looks
> > like they are linked to some other factors as well. If you can
> > reproduce them on demo.openmf.org and provide with loan ids or
> > relevant details, we can get back with clarifications or verify if it is
> really a bug.
> >
> > Regards,
> > Adi Raju
> >
> > Principal Architect, Conflux Technologies Pvt Ltd
> > Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block,
> > Bengaluru, Karnataka, 560043 INDIA
> >
> >
> > Disclaimer: The information contained in this e-mail message and any
> > files/attachment transmitted with it is confidential and for the sole
> > use of the intended recipient(s) or entity identified. If you are not
> > the intended recipient, please email: supp...@confluxtechnologies.com
> > and destroy/delete all copies and attachment thereto along with the
> > original message. Any unauthorised review, use, disclosure,
> > dissemination, forwarding, printing or copying of this email or any
> > action taken in reliance on this e-mail is strictly prohibited and is
> > unlawful. The recipient acknowledges that Conflux Technologies Private
> > Limited or its subsidiaries and associated companies are unable to
> > exercise control or ensure or guarantee the integrity of/over the
> > contents of the information contained in e-mail transmissions. Before
> > opening any attachments, please check.
> >
> >
> >
> >
> > -----Original Message-----
> > From: Sander van der Heyden
> > [mailto:sandervanderhey...@musonisystem.com]
> > Sent: 05 December 2016 17:06
> > To: d...@fineract.incubator.apache.org; A good place to start for users
> > or folks new to Mifos.
> > Subject: Issues in interest recalculation
> >
> > Hi All,
> >
> > We've been doing a relatively extensive round of testing on interest
> > recalculation loans and found the following issues (on demo.openmf.org).
> > All of the cases below have:
> > - Interest recalculation on
> > - Interest calculation = same as repayment period
> > - Amortization set to Equal instalments
> > - Advance payments set to Reduce EMI Amount
> > - No grace periods
> > - No sliding interest rates, or multi-disbursements
> > - No fixed EMI amounts
> >
> > I've not yet created JIRA items on it, because I was wondering whether
> > other people had seen these and there was a work-around by specifying
> > the right params? Also when trying to debug some of this I think the
> > calculations have now been made so incredibly complex that it is very
> > hard to fix some of these without creating other bugs in exchange.
> >
> > *Daily interest on Same as Repayment period* On monthly loans, even
> > though same as repayment period is selected, the interest calculation
> > seems to happen on a daily basis. We see jumps up and down in the
> > schedule, which should not happen especially before any payments are
> > made, as in that case the interest calculation should be identical for
> > each month (we are using same as repayment period) and therefore the
> > interest amount should always drop month over month, with principal
> going up.
> >
> > *Incorrect interest in Loan Schedule for first instalment when making
> > an early payment* When setting up any interest recalculation loan, and
> > making an early payment on the first instalment, this updates the
> > schedule with all of it going to principal, leaving the interest
> > outstanding. However the actual transaction does split part of it to
> > interest and so does the loan summary.
> > In subsequent instalments this no longer happens.
> >
> > *Interest recalculation causes incorrect schedule with duplicate
> > instalments*
> > On a daily loan, when an installment was originally due on a weekend
> > day, it get's pushed forward, skipping that day correctly. However in
> > recalculation this is no longer happening therefore introducing 2
> > installments on the same date one with a 0 length. So what happens is
> > pre-correction you have an instalment on the 3rd of December, then one
> > on the 5th (skipping sunday). After the payment and recalculation it
> > has 2 instalments due on the 5th, one with 0 days and no interest.
> >
> > *Single instalment loans do not recalculate* When a loan with 1
> > instalment is created and the client prepays on that one instalment,
> > interest is not recalculated.
> >
> > *Early payment of all principal throws an EMI error* When repaying the
> > full principal due on the loan in an early instalment it throws an EMI
> > error, which should not happen, there is still a bit of interest to
> > pay, but no more principal. This means the schedule should just show
> > that interest remaining (or close the loan as there is no interest).
> >
> >
> > Thanks,
> > Sander
> >
> >
>
>
>
>
> ------------------------------
>
> ------------------------------------------------------------
> ------------------
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With one year of Intel Parallel Studio XE.
Training and support from Colfax.
Order your platform today.http://sdm.link/xeonphi
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