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Posted to issues@fineract.apache.org by "Mihaly Dallos (Jira)" <ji...@apache.org> on 2023/03/02 14:19:00 UTC

[jira] [Created] (FINERACT-1905) Time respective repayment strategy

Mihaly Dallos created FINERACT-1905:
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             Summary: Time respective repayment strategy
                 Key: FINERACT-1905
                 URL: https://issues.apache.org/jira/browse/FINERACT-1905
             Project: Apache Fineract
          Issue Type: Improvement
            Reporter: Mihaly Dallos


Accounting of _INCOME_ is critical for financial reporting which is highly regulated and regularly inspected. Fees added to loans are source of this income. Backdated transactions OR reverse/replay can change the money distribution and pay off fees retrospectively. It changes the amount of _income_ too. This is due to Fineract’s payment strategy which orders transactions of the instalment and pays those off (within the instalment’s timeframe) 

*Solution:*

Introducing a new repayment strategy and having due charges and In advance principal which let us pay the charge on or after the charge due date, but the strategy needs to be aware if there is any unpaid  but due charge / penalty.

*New order:*
 # Due charges

 # In advanced principal

 # Penalty

 # Fee

 # Interest

 # Principal



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