[jira] [Created] (FINERACT-2104) Accrual Activity Posting on Installment date

["Bharath Gowda (Jira)" <ji...@apache.org>]

Bharath Gowda created FINERACT-2104:
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             Summary: Accrual Activity Posting on Installment date
                 Key: FINERACT-2104
                 URL: https://issues.apache.org/jira/browse/FINERACT-2104
             Project: Apache Fineract
          Issue Type: Improvement
            Reporter: Bharath Gowda
         Attachments: accrual activity scenarios v4 (1).xlsx

*Background and Details*

Currently Fineract posts accrual for loan accounts based on two jobs. post accrual transactions and post periodic accrual.

One job posts accruals as of Installment date and the other posts as on the run date

but with the available configurations we cannot have split of accrual posting as of the Installment date with daily accrual postings.

Hence we are posting a monthly accrual activity that posts Installment wise accrual that is being calculated as of that installment

*Acceptance Criteria*
 # System should have a new non-monetary transaction type named accrual activity transaction

 # The transaction will be posted on the Installment due_date for Installment’s INCOME portion amount

 ## Example: Interest, fees and Penalties Income portions

 # A job +business step is required to support this functionality

 ## Job + business step to support this functionality!

 # Transaction will be posted only for the active loans as on Installment due-date only

 ## If a Loan in pre-closed - one entry will be posted as of the last transaction date

 ## If the pre-closed loan is re-opened again (due to new disbursement or chargeback) the accrual activity should be created for the next installments till current date ( interest amount to be calculated from previously posted accrual activity on the earlier preclose date)

 # The transaction will be reverse and replayed when ever the INCOME portion amount is changed during schedule recalculations- like any other transaction

 ## example reversal of an older repayment

 # System should store/send both previous and new INCOME portion values during reverse and replay

 # Transaction will have no Accounting entries, no affect on balances or on repayment schedule changes

 # Configuration at loan product level is required for enabling or disabling this transaction posting

Usecases attached below

 



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