Thanks Rajan,
I have been using the Savings charges to do this process (Of Course the
documents are kept out of the system for now).
This is how i have been doing it
1- X goes to the FP (Financial Provider)
2- FP ask X to open an account if they don't have one already
3- FP sets this account to accept overdraft (Going into negative)
4- X and FP sign a document that endorses invoice in favour of FP
5- FP does a Due Diligence by contacting Y if the Invoice is valid
6- Y confirms that invoice is valid and commits to make all payments
against the invoice (including terms of payment) through the FP bank
7- Once confirmation is done proper KYC and DD on X is done, FP credits the
account of with a value of the Invoice amount
8- FP will then add a Savings Charge (Specific date Savings Charge) to the
account on the due date of the Invoice as advised by Y
9- X can use their account and pick any amount as agreed in the terms
between X and FP
I have used this approach a number of times without needing to make a
module. Most of the details are done outside of the system the signed
documents can be uploaded against X client details
what is not possible
1- MifosX does not allow to edit an existing account to be set for
overdraft,
you just have to open another account besides the existing account
during opening u can set this account for overdraft
2- MifosX does not allow for Savings accounts to have documents (only
possible with Loans and clients)
3- Under Data Tables you have no choice for an image datatype / column
I hope this helps all the community
But we could think about making it a module to reduce on the external
un-recorded data
My Kind Regards
Francis Guchie Kirago
*Skype:* francisguchie
*Whatsapp: *232 79 19 44 07
*LINKEDIN:* https://www.linkedin.com/in/francis-guchie-kirago-a4379617/
twitter: @FrancisGuchie
On Tue, Aug 11, 2020 at 2:34 PM Sr Finance <srfi...@gmail.com> wrote:
> Hi.
> If x sell products or services to y, then x raises invoice against y.
> Invoice may be at sight/ demand or after 30 days to 90 days. It is
> receivable for x. If x needs fund for working capital, he can endorse
> invoice in favour of Financiers and get discounted value for the invoice
> to meet working capital.
> Rajan srfin india
>
> On Tue, 11 Aug, 2020, 7:37 PM Amit Gupta, <amit.gu...@novopay.in> wrote:
>
>> I found the info in this link useful. Hope this helps.
>>
>> https://www.indifi.com/invoice-discounting-india
>>
>>
>>
>> On Tue, Aug 11, 2020 at 7:07 PM Amit Gupta <amit.gu...@novopay.in> wrote:
>>
>>> Hi Team - I don't have functional spec or a use case with me right now.
>>> It was a client ask hence thought of checking with the group. Will share
>>> more info as soon as I get.
>>>
>>> On Tue, Aug 11, 2020 at 6:51 PM Saransh Sharma <sara...@muellners.org>
>>> wrote:
>>>
>>>> Hey Amit, could you please elaborate your use case in terms of function
>>>> spec.
>>>>
>>>>
>>>> On Tue, 11 Aug 2020, 16:35 Bharath Gowda, <bgo...@mifos.org> wrote:
>>>>
>>>>> Hi Amit,
>>>>>
>>>>> Mifos Currently do not support that functionality out of the box.
>>>>> and I have not come across anyone who has done the customization to
>>>>> support this feature.
>>>>>
>>>>>
>>>>> Regards,
>>>>> Bharath
>>>>> Lead Implementation Analyst | Mifos Initiative
>>>>> Skype: live:cbharath4| Mobile: +91.7019636073
>>>>> http://mifos.org <http://facebook.com/mifos>
>>>>> <http://www.twitter.com/mifos>
>>>>>
>>>>>
>>>>> On Tue, Aug 11, 2020 at 2:16 PM Amit Gupta <amit.gu...@novopay.in>
>>>>> wrote:
>>>>>
>>>>>> Hi Team,
>>>>>>
>>>>>> Does Mifos support invoice/bill discounting functionality ? Out
>>>>>> of box or custom?
>>>>>>
>>>>>> Thanks
>>>>>> Amit
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