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Posted to issues@fineract.apache.org by "Petri Tuomola (Jira)" <ji...@apache.org> on 2021/09/21 13:54:00 UTC
[jira] [Resolved] (FINERACT-1316) Interest calculation going wrong
for advance/late payments
[ https://issues.apache.org/jira/browse/FINERACT-1316?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
Petri Tuomola resolved FINERACT-1316.
-------------------------------------
Resolution: Fixed
> Interest calculation going wrong for advance/late payments
> ----------------------------------------------------------
>
> Key: FINERACT-1316
> URL: https://issues.apache.org/jira/browse/FINERACT-1316
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Affects Versions: 1.4.0
> Reporter: bharath gowda
> Assignee: Avik Ganguly
> Priority: Critical
> Fix For: 1.6.0
>
> Attachments: 22.png, product config.png
>
>
> for a loan product with daily interest calculation, when an advance/late/partial repayments are made, interest calculation is going wrong, which is resulting in 3 major issues
>
> # repayment schedule payment allocation is going wrong
> # The next prepayment interest calculation is wrong
> # The interest of all the subsequent installments is calculating wrong because of the wrong principal balance.
> To reproduce, create a loan product with interest calculation set to daily(check attachment for complete product configuration)
> create->disburse a loan with the loan product
> do a early repayment to the loan and check the calculation
> refer attachment for the sample
>
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