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Posted to dev@fineract.apache.org by Lionel Raymundi - Poincenot <li...@poincenot.com> on 2016/12/30 13:32:10 UTC
Configuring Penalty Charge depending on loan's interest rate
Hi devs,
According to our business definition, we should charge penalties for unpaid
overdued installments as follows:
Every overdue day, charge (installment capital) * (daily interest rate *
1.5)
I know I can configure the penalty as "percentage of amount". The problem
is that I cant set a fixed value on "amount", as it depends on the loan's
nominal interest rate (which is not the same for every loan). I am
attaching an image of the intended calculation.
I was thinking on developing a new Charge Calculation type as "% Amount *
Interest rate". By doing this, the amount is still fixed, but the base for
the calculation would allow me to do what I need.
Is this the only way or is there a better solution?
Thanks in advance
Lionel
RE: Configuring Penalty Charge depending on loan's interest rate
Posted by Adi Raju <ad...@confluxtechnologies.com>.
I think your steps are right. Let us know if you get into any problems.
Since this is very specific requirement, I think it is better to take community's input before we push the code changes to common repo. May be a vote on user@fineract.incubator.apache.org.
Regards,
Adi Raju
Principal Architect, Conflux Technologies Pvt Ltd
Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043 INDIA
Disclaimer: The information contained in this e-mail message and any files/attachment transmitted with it is confidential and for the sole use of the intended recipient(s) or entity identified. If you are not the intended recipient, please email: support@confluxtechnologies.com and destroy/delete all copies and attachment thereto along with the original message. Any unauthorised review, use, disclosure, dissemination, forwarding, printing or copying of this email or any action taken in reliance on this e-mail is strictly prohibited and is unlawful. The recipient acknowledges that Conflux Technologies Private Limited or its subsidiaries and associated companies are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail transmissions. Before opening any attachments, please check.
-----Original Message-----
From: Lionel Raymundi - Poincenot [mailto:lionel@poincenot.com]
Sent: Monday, January 2, 2017 7:07 PM
To: dev@fineract.incubator.apache.org
Subject: Re: Configuring Penalty Charge depending on loan's interest rate
Thanks Adi,
I've created FINERACT-362
<https://issues.apache.org/jira/browse/FINERACT-362>.
Do you believe I could start working on it? So far, I've detected some necessary changes on the following classes, but I am afraid I could miss something else, and I will need tons of support ;).
1.- Add new enum in ChargeCalculationType
2.- Changes on ChargeEnumerations and ChargeDropdownReadPlatformServiceImpl
to make available the new option in mifos configuration
3.- modify method calculateAmountPercentageAppliedTo in class Loan to get the new calculation base as amount = getDerivedAmountForCharge(loanCharge).multiply(
getLoanProductRelatedDetail().getAnnualNominalInterestRate()).divide(
new BigDecimal(100));
4.- modify method createNewFromJson in class LoanCharge in a similar way that the one of item 3.
On the other hand, I would like to have clear which business processes will be affected by this, so I can test all of them. For example:
1) Charge's CRUD
2) Loan's CRUD (in particular, Loan penalties configuration)
3) Apply penalties to overdued loans job
... anything else?
Thanks again
Lionel
2017-01-02 1:53 GMT-03:00 Adi Raju <ad...@confluxtechnologies.com>:
> Hi Lionel,
>
>
>
> New enhancement with new calculation type would be required to address
> your requirement.
>
>
>
> *Regards,*
>
> *Adi Raju*
>
>
>
> *Principal Architect, **Conflux Technologies Pvt Ltd
> <http://www.confluxtechnologies.com/>*
>
> *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block,
> Bengaluru, Karnataka, 560043 INDIA
>
>
>
>
>
> Disclaimer: The information contained in this e-mail message and any
> files/attachment transmitted with it is confidential and for the sole
> use of the intended recipient(s) or entity identified. If you are not
> the intended recipient, please email: support@confluxtechnologies.com
> and destroy/delete all copies and attachment thereto along with the
> original message. Any unauthorised review, use, disclosure,
> dissemination, forwarding, printing or copying of this email or any
> action taken in reliance on this e-mail is strictly prohibited and is
> unlawful. The recipient acknowledges that Conflux Technologies Private
> Limited or its subsidiaries and associated companies are unable to
> exercise control or ensure or guarantee the integrity of/over the
> contents of the information contained in e-mail transmissions. Before
> opening any attachments, please check.
>
>
>
> [image: Finflux]
>
>
>
> *From:* Lionel Raymundi - Poincenot [mailto:lionel@poincenot.com]
> *Sent:* Friday, December 30, 2016 7:02 PM
> *To:* dev@fineract.incubator.apache.org
> *Subject:* Configuring Penalty Charge depending on loan's interest
> rate
>
>
>
> Hi devs,
>
>
>
> According to our business definition, we should charge penalties for
> unpaid overdued installments as follows:
>
>
>
> Every overdue day, charge (installment capital) * (daily interest rate
> *
> 1.5)
>
>
>
> I know I can configure the penalty as "percentage of amount". The
> problem is that I cant set a fixed value on "amount", as it depends on
> the loan's nominal interest rate (which is not the same for every
> loan). I am attaching an image of the intended calculation.
>
>
>
> I was thinking on developing a new Charge Calculation type as "%
> Amount * Interest rate". By doing this, the amount is still fixed, but
> the base for the calculation would allow me to do what I need.
>
>
>
> Is this the only way or is there a better solution?
>
>
>
>
>
> Thanks in advance
>
>
>
> Lionel
>
>
>
Re: Configuring Penalty Charge depending on loan's interest rate
Posted by Ed Cable <ed...@mifos.org>.
Lionel, it would be great if you could take that task on. The team and
community will be happy to guide you.
Ed
On Jan 2, 2017 05:37, "Lionel Raymundi - Poincenot" <li...@poincenot.com>
wrote:
> Thanks Adi,
>
> I've created FINERACT-362
> <https://issues.apache.org/jira/browse/FINERACT-362>.
>
> Do you believe I could start working on it? So far, I've detected some
> necessary changes on the following classes, but I am afraid I could miss
> something else, and I will need tons of support ;).
> 1.- Add new enum in ChargeCalculationType
> 2.- Changes on ChargeEnumerations and ChargeDropdownReadPlatformServ
> iceImpl
> to make available the new option in mifos configuration
> 3.- modify method calculateAmountPercentageAppliedTo in class Loan to get
> the new calculation base as
> amount = getDerivedAmountForCharge(loanCharge).multiply(
> getLoanProductRelatedDetail().getAnnualNominalInterestRate()).divide(
> new BigDecimal(100));
> 4.- modify method createNewFromJson in class LoanCharge in a similar way
> that the one of item 3.
>
>
> On the other hand, I would like to have clear which business processes will
> be affected by this, so I can test all of them. For example:
> 1) Charge's CRUD
> 2) Loan's CRUD (in particular, Loan penalties configuration)
> 3) Apply penalties to overdued loans job
>
> ... anything else?
>
> Thanks again
>
> Lionel
>
>
>
>
> 2017-01-02 1:53 GMT-03:00 Adi Raju <ad...@confluxtechnologies.com>:
>
> > Hi Lionel,
> >
> >
> >
> > New enhancement with new calculation type would be required to address
> > your requirement.
> >
> >
> >
> > *Regards,*
> >
> > *Adi Raju*
> >
> >
> >
> > *Principal Architect, **Conflux Technologies Pvt Ltd
> > <http://www.confluxtechnologies.com/>*
> >
> > *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block,
> > Bengaluru, Karnataka, 560043 INDIA
> >
> >
> >
> >
> >
> > Disclaimer: The information contained in this e-mail message and any
> > files/attachment transmitted with it is confidential and for the sole use
> > of the intended recipient(s) or entity identified. If you are not the
> > intended recipient, please email: support@confluxtechnologies.com and
> > destroy/delete all copies and attachment thereto along with the original
> > message. Any unauthorised review, use, disclosure, dissemination,
> > forwarding, printing or copying of this email or any action taken in
> > reliance on this e-mail is strictly prohibited and is unlawful. The
> > recipient acknowledges that Conflux Technologies Private Limited or its
> > subsidiaries and associated companies are unable to exercise control or
> > ensure or guarantee the integrity of/over the contents of the information
> > contained in e-mail transmissions. Before opening any attachments, please
> > check.
> >
> >
> >
> > [image: Finflux]
> >
> >
> >
> > *From:* Lionel Raymundi - Poincenot [mailto:lionel@poincenot.com]
> > *Sent:* Friday, December 30, 2016 7:02 PM
> > *To:* dev@fineract.incubator.apache.org
> > *Subject:* Configuring Penalty Charge depending on loan's interest rate
> >
> >
> >
> > Hi devs,
> >
> >
> >
> > According to our business definition, we should charge penalties for
> > unpaid overdued installments as follows:
> >
> >
> >
> > Every overdue day, charge (installment capital) * (daily interest rate *
> > 1.5)
> >
> >
> >
> > I know I can configure the penalty as "percentage of amount". The problem
> > is that I cant set a fixed value on "amount", as it depends on the loan's
> > nominal interest rate (which is not the same for every loan). I am
> > attaching an image of the intended calculation.
> >
> >
> >
> > I was thinking on developing a new Charge Calculation type as "% Amount *
> > Interest rate". By doing this, the amount is still fixed, but the base
> for
> > the calculation would allow me to do what I need.
> >
> >
> >
> > Is this the only way or is there a better solution?
> >
> >
> >
> >
> >
> > Thanks in advance
> >
> >
> >
> > Lionel
> >
> >
> >
>
Re: Configuring Penalty Charge depending on loan's interest rate
Posted by Lionel Raymundi - Poincenot <li...@poincenot.com>.
Thanks Adi,
I've created FINERACT-362
<https://issues.apache.org/jira/browse/FINERACT-362>.
Do you believe I could start working on it? So far, I've detected some
necessary changes on the following classes, but I am afraid I could miss
something else, and I will need tons of support ;).
1.- Add new enum in ChargeCalculationType
2.- Changes on ChargeEnumerations and ChargeDropdownReadPlatformServiceImpl
to make available the new option in mifos configuration
3.- modify method calculateAmountPercentageAppliedTo in class Loan to get
the new calculation base as
amount = getDerivedAmountForCharge(loanCharge).multiply(
getLoanProductRelatedDetail().getAnnualNominalInterestRate()).divide(
new BigDecimal(100));
4.- modify method createNewFromJson in class LoanCharge in a similar way
that the one of item 3.
On the other hand, I would like to have clear which business processes will
be affected by this, so I can test all of them. For example:
1) Charge's CRUD
2) Loan's CRUD (in particular, Loan penalties configuration)
3) Apply penalties to overdued loans job
... anything else?
Thanks again
Lionel
2017-01-02 1:53 GMT-03:00 Adi Raju <ad...@confluxtechnologies.com>:
> Hi Lionel,
>
>
>
> New enhancement with new calculation type would be required to address
> your requirement.
>
>
>
> *Regards,*
>
> *Adi Raju*
>
>
>
> *Principal Architect, **Conflux Technologies Pvt Ltd
> <http://www.confluxtechnologies.com/>*
>
> *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block,
> Bengaluru, Karnataka, 560043 INDIA
>
>
>
>
>
> Disclaimer: The information contained in this e-mail message and any
> files/attachment transmitted with it is confidential and for the sole use
> of the intended recipient(s) or entity identified. If you are not the
> intended recipient, please email: support@confluxtechnologies.com and
> destroy/delete all copies and attachment thereto along with the original
> message. Any unauthorised review, use, disclosure, dissemination,
> forwarding, printing or copying of this email or any action taken in
> reliance on this e-mail is strictly prohibited and is unlawful. The
> recipient acknowledges that Conflux Technologies Private Limited or its
> subsidiaries and associated companies are unable to exercise control or
> ensure or guarantee the integrity of/over the contents of the information
> contained in e-mail transmissions. Before opening any attachments, please
> check.
>
>
>
> [image: Finflux]
>
>
>
> *From:* Lionel Raymundi - Poincenot [mailto:lionel@poincenot.com]
> *Sent:* Friday, December 30, 2016 7:02 PM
> *To:* dev@fineract.incubator.apache.org
> *Subject:* Configuring Penalty Charge depending on loan's interest rate
>
>
>
> Hi devs,
>
>
>
> According to our business definition, we should charge penalties for
> unpaid overdued installments as follows:
>
>
>
> Every overdue day, charge (installment capital) * (daily interest rate *
> 1.5)
>
>
>
> I know I can configure the penalty as "percentage of amount". The problem
> is that I cant set a fixed value on "amount", as it depends on the loan's
> nominal interest rate (which is not the same for every loan). I am
> attaching an image of the intended calculation.
>
>
>
> I was thinking on developing a new Charge Calculation type as "% Amount *
> Interest rate". By doing this, the amount is still fixed, but the base for
> the calculation would allow me to do what I need.
>
>
>
> Is this the only way or is there a better solution?
>
>
>
>
>
> Thanks in advance
>
>
>
> Lionel
>
>
>
RE: Configuring Penalty Charge depending on loan's interest rate
Posted by Adi Raju <ad...@confluxtechnologies.com>.
Hi Lionel,
New enhancement with new calculation type would be required to address your requirement.
Regards,
Adi Raju
Principal Architect, <http://www.confluxtechnologies.com/> Conflux Technologies Pvt Ltd
Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043 INDIA
Disclaimer: The information contained in this e-mail message and any files/attachment transmitted with it is confidential and for the sole use of the intended recipient(s) or entity identified. If you are not the intended recipient, please email: <ma...@confluxtechnologies.com> support@confluxtechnologies.com and destroy/delete all copies and attachment thereto along with the original message. Any unauthorised review, use, disclosure, dissemination, forwarding, printing or copying of this email or any action taken in reliance on this e-mail is strictly prohibited and is unlawful. The recipient acknowledges that Conflux Technologies Private Limited or its subsidiaries and associated companies are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail transmissions. Before opening any attachments, please check.
Finflux
From: Lionel Raymundi - Poincenot [mailto:lionel@poincenot.com]
Sent: Friday, December 30, 2016 7:02 PM
To: dev@fineract.incubator.apache.org
Subject: Configuring Penalty Charge depending on loan's interest rate
Hi devs,
According to our business definition, we should charge penalties for unpaid overdued installments as follows:
Every overdue day, charge (installment capital) * (daily interest rate * 1.5)
I know I can configure the penalty as "percentage of amount". The problem is that I cant set a fixed value on "amount", as it depends on the loan's nominal interest rate (which is not the same for every loan). I am attaching an image of the intended calculation.
I was thinking on developing a new Charge Calculation type as "% Amount * Interest rate". By doing this, the amount is still fixed, but the base for the calculation would allow me to do what I need.
Is this the only way or is there a better solution?
Thanks in advance
Lionel