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Posted to dev@fineract.apache.org by "Santosh Math (JIRA)" <ji...@apache.org> on 2016/12/20 04:17:58 UTC
[jira] [Updated] (FINERACT-313) For Multiple tranche Loans with
Equal Principal Payments after submitting the loan application Principal
due is not calculating properly
[ https://issues.apache.org/jira/browse/FINERACT-313?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
Santosh Math updated FINERACT-313:
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Attachment: 42.png
> For Multiple tranche Loans with Equal Principal Payments after submitting the loan application Principal due is not calculating properly
> ----------------------------------------------------------------------------------------------------------------------------------------
>
> Key: FINERACT-313
> URL: https://issues.apache.org/jira/browse/FINERACT-313
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Reporter: Santosh Math
> Assignee: Markus Geiss
> Attachments: 42.png
>
>
> Reported by Subramanya at https://mifosforge.jira.com/browse/MIFOSX-2130
> Original Description:
> 1. Create a Loan product with following datasets
> Repayment Strategy:RBI (India)
> Repayments:12 every 1 Months
> Amortization:Equal principal payments
> Interest:12 per annum (1% Per month):Declining Balance
> Interest Calculation Period:Daily
> Interest Type:Declining Balance
> Recalculate Interest Yes
> Days in year: Actual
> Days in month: Actual
> Interest recalculation compounding on: None
> Advance payments adjustment type:Reduce number of installments
> Frequency for recalculate Outstanding Principal: Every -1 days
> Max Tranche Count:2,
> 2.Submit new loan application for a client on 01 January 2015 with first tranche on same date and 2nd Tranche on 01 March 2015, each with 5000 amount.
> > For 01 February 2015 and 01 March 2015 the principal due should be 416.67 (ie 5000/12). and From 01 April2015 to 01 January 2016 principal due should be 916.66 (ie 9166.6/10).
> But here it is calculating differently as a result for the last installment principal due is more.
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