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Posted to issues@fineract.apache.org by "Vikranth Ramasami (Jira)" <ji...@apache.org> on 2022/07/22 15:18:00 UTC
[jira] [Updated] (FINERACT-1638) Overdraft is extended or partially repaid, the interest is not being calculated correctly as it is not including previous days interest when calculating new interest posting
[ https://issues.apache.org/jira/browse/FINERACT-1638?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
Vikranth Ramasami updated FINERACT-1638:
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Description:
!1638.JPG!
* We are expecting the interest applied on 8{^}th{^} June to be 12.78 i.e. 1% of 1277.95 (i.e the account balance including previous days interest).{+}{{+}}{+}{{+}}
* Instead the interest is being posted as 12.57 which is 1% of 1257.45 (which is the sum of only the withdrawal and withdrawal entries).
The same issue will happen if you say do a withdrawal today and then do a partial deposit or another withdrawal the interest posted tomorrow will be incorrect
was:
!1638.JPG!
* We are expecting the interest applied on 8{^}th{^} June to be 12.78 i.e. 1% of 1277.95 (i.e the account balance including previous days interest).{+}{{+}}{+}{{+}}
* Instead the interest is being posted as 12.57 which is 1% of 1257.45 (which is the sum of only the withdrawal and withdrawal entries).
> Overdraft is extended or partially repaid, the interest is not being calculated correctly as it is not including previous days interest when calculating new interest posting
> -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
>
> Key: FINERACT-1638
> URL: https://issues.apache.org/jira/browse/FINERACT-1638
> Project: Apache Fineract
> Issue Type: Bug
> Reporter: Vikranth Ramasami
> Priority: Major
> Attachments: 1638.JPG
>
>
> !1638.JPG!
>
> * We are expecting the interest applied on 8{^}th{^} June to be 12.78 i.e. 1% of 1277.95 (i.e the account balance including previous days interest).{+}{{+}}{+}{{+}}
> * Instead the interest is being posted as 12.57 which is 1% of 1257.45 (which is the sum of only the withdrawal and withdrawal entries).
> The same issue will happen if you say do a withdrawal today and then do a partial deposit or another withdrawal the interest posted tomorrow will be incorrect
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