Thank you. I managed to apply late payment penalties to loans.
Diane
Le mardi 16 janvier 2018 à 10:42:14 UTC+2, Stebbins Tugara
<stebbyt...@gmail.com> a écrit :
Hello Diane,
After setting up your penalty charges, by default it will execute in the
background automatically. There is a scheduler job called "Apply penalty to
overdue loans" under Admin--System--Scheduler Jobs that takes care of this on a
daily basis.
RegardsStebbins
On Tue, Jan 9, 2018 at 10:53 PM, Diane Uwamahoro via Mifos-users
<mifos-users@lists.sourceforge.net> wrote:
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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