Hello team, Below please find the my responses in line. I sincerely hope that my responses are adequate for analysis.
Mr Stebbins, Kindl go through the responses below and lets talks more over Skype... at your convenience. 1. In your Loan product configuration, under Overdue Charges, select the correct penalty charge product (I assume it is the Late Payment Penalty) not Additional Interest. Or select both if you have other intended uses. *--> THIS WAS SUCCESSFULLY DONE.* 2. Go to Charges Configuration > Late Penalty payment. Change the charge time type to "Overdue fees" and make sure Is Penalty is TRUE(Ticked). t*he following penalty have ALL ALONG set to "TRUE" * 3. Additional Interest Loan true Bounce Cheque Charge Loan true Collection Fee Loan true Late Payment Penalty Loan true 4. Go to scheduler job and manually run the job "Add penalty to Overdue loans" *when I run the above job the following returns an error. The following accounts are consistently highlighted in the error log: LOAN ACCOUNTS: 851, 893, 926, 952, 978, 985, 1016* NOTE: Editing some charges product will not be possible if it has been > applied to existing loans. You might need to create a new loan application > for the penalty to reflect. Old loans will usually preserve their initial > settings. > > > The error log in Accrual scheduler jobs is due to some incorrect > configuration rules in loan with IDs 914, 978, 851 etc all listed in the > log. > > 1. What payment type was used for disbursal and repayments of your > loans (This will post entries as set in the Advanced Accounting rule in > Loan Product config.) > 2. Verify if the disbursed loans posted their journal entries to > correct g/l accounts > 3. Verify if repayments are posting to correct journal entries > > *Attached please find the details of the above three queries.* *In summary, the Disbursements, Repayments and Charges are posted into the respective ledgers.* *However, I was keen to note that when you select the above loan accounts highlighted on the error logs: Under the Transactions Tab, and uncheck the "Hide Accruals". When you select "View Ledgers" the Accrual entries do not return entries. its as if the Accrual entries were not being posted for these loan accounts namely: LOAN ACCOUNTS: 851, 893, 926, 952, 978, 985, 1016* Go to any of the troubled loans, under Transactions tab and check if there > are any accrual entries (Make sure "Hide Accruals" is unchecked). > > I gotta go, thanks. > > Stebbins > *THE END OF MY RESPONSE*
Mifos_Loan_Acc_With_Error.xls
Description: MS-Excel spreadsheet
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