Hi You can create under loan products, since he is sundry debtor, as and when he discounts his invoice, the amount outgo is principal add discounted amount as interest, you can get desired results. But always you are prompt, elaborate and specific in replying.thank you sir. Rajan, Srfin India.
On Tue, 11 Aug 2020 at 9:24 PM, Francis Guchie <francisguc...@gmail.com> wrote: > 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 >>>>>>> _______________________________________________ >>>>>>> Mifos-users mailing list >>>>>>> Mifos-users@lists.sourceforge.net >>>>>>> https://lists.sourceforge.net/lists/listinfo/mifos-users >>>>>>> >>>>>> _______________________________________________ >>>>>> Mifos-users mailing list >>>>>> Mifos-users@lists.sourceforge.net >>>>>> https://lists.sourceforge.net/lists/listinfo/mifos-users >>>>>> >>>>> _______________________________________________ >>>>> Mifos-users mailing list >>>>> Mifos-users@lists.sourceforge.net >>>>> https://lists.sourceforge.net/lists/listinfo/mifos-users >>>>> >>>> _______________________________________________ >>> Mifos-users mailing list >>> Mifos-users@lists.sourceforge.net >>> https://lists.sourceforge.net/lists/listinfo/mifos-users >>> >> _______________________________________________ >> Mifos-users mailing list >> Mifos-users@lists.sourceforge.net >> https://lists.sourceforge.net/lists/listinfo/mifos-users >> > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users >
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