Thanks Ed,
How does it apply to loans automatically? Do I have to run the job manually?
Diane
> On 9 Jan 2018, at 21:31, Ed Cable <edca...@mifos.org> wrote:
>
> Diane,
>
> You can follow the piece of documentation at
> https://mifosforge.jira.com/wiki/spaces/docs/pages/72908813/Charges.
>
> But in short, make sure the charge time type is "Overdue Fees" and then
> Charge Calculation should be "% Loan Amount + Interest" and then the Amount
> would be the percentage specified as an integer so 5% would be a 5 and not .05
>
> Also make sure you check box as "Penalty"
>
> Ed
>
>
>
>> On Tue, Jan 9, 2018 at 1:04 AM, Diane via Mifos-users
>> <mifos-users@lists.sourceforge.net> wrote:
>> Hello!
>>
>> How can I define penalties in Mifos X? I want to define penalties that will
>> run automatically when a loan payment has passed the due date.
>>
>> I followed the steps to define fees, but while defining the charges, I need
>> clarifications on the field "amount" which is mandatory field. What are we
>> supposed to put in this field?
>>
>> In my case, the penalties are of 5% of the amount supposed to be paid.
>>
>> Thank you.
>>
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>
>
>
> --
> Ed Cable
> President/CEO, Mifos Initiative
> edca...@mifos.org | Skype: edcable | Mobile: +1.484.477.8649
>
> Collectively Creating a World of 3 Billion Maries | http://mifos.org
>
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