Good day Blessing In terms of prepayment, there is an option to foreclose the loan where the system will show you the outstanding principal balance, accrued and not paid interest, outstanding fees. I presume this is the option you are looking.
Prepayment will only accept any amount and will be channeled to the loan without any consideration of future interest. I hope this is helpful On Sun, 3 Mar 2024, 09:22 NYAKUBAYA Blessing, <bless...@servcred.com> wrote: > Good afternoon all, > > *FIRSTLY* > I am noticing that the system includes future interest, (*Unearned, > Not-Yet Accrued Interest Income From Future Periods*), in the balance > owing by the client? > This doesn't seem to be correct. > Shouldn't the balance owing be the summation of the *Unpaid Principal > Balance to Date* + *Unpaid, Accrued Interest to that Date*? > > ------------//------------ > > *AS AN EXTENSION TO THAT PROBLEM* > When I want to process an *Early Prepayment* of this loan, *by default* the > system has pre-populated the grayed-out data fields to expect the client to > pay all the future interest regardless of having requested to settle the > loan before its maturity. > > May you kindly help with this? > > Regards, > > > > *Blessing **Nyakubaya* > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users >
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