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 < [email protected]> 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. > > ------------------------------------------------------------ > ------------------ > Check out the vibrant tech community on one of the world's most > engaging tech sites, Slashdot.org! http://sdm.link/slashdot > _______________________________________________ > Mifos-users mailing list > [email protected] > https://lists.sourceforge.net/lists/listinfo/mifos-users > > -- *Ed Cable* President/CEO, Mifos Initiative [email protected] | Skype: edcable | Mobile: +1.484.477.8649 *Collectively Creating a World of 3 Billion Maries | *http://mifos.org <http://facebook.com/mifos> <http://www.twitter.com/mifos>
