[jira] [Comment Edited] (FINERACT-1485) New Loan Charge type "upfront disbursement fees"

["ibrahim kimbugwe (Jira)" <ji...@apache.org>]

    [ https://issues.apache.org/jira/browse/FINERACT-1485?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=17472334#comment-17472334 ] 

ibrahim kimbugwe edited comment on FINERACT-1485 at 1/10/22, 9:44 PM:
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This is really good and important. Our local banking systems here make use of it in the sense that fees are deducted from the disbursed amount. [~francisguchie] I guess this is a good feature to have.


was (Author: ikimbrah):
This is really good and important. Our local banking systems here make use of it in a sense that a fees are deducted from the disbursed amount. [~francisguchie] I guess this is a good feature to have.

> New Loan Charge type "upfront disbursement fees"
> ------------------------------------------------
>
>                 Key: FINERACT-1485
>                 URL: https://issues.apache.org/jira/browse/FINERACT-1485
>             Project: Apache Fineract
>          Issue Type: Improvement
>          Components: Charges, Loan
>    Affects Versions: 1.5.0
>            Reporter: bharath gowda
>            Priority: Major
>             Fix For: 1.6.0
>
>         Attachments: Upfront fee requirement.xlsx
>
>
> Refer Attachment for full details of the requirement.
> |Requirement|Changes |
> |New loan entity -  fee type to be introduced |Upfront Disbursement Fee|
> |
> Upfront fee can be on |1. % approved amount
> 2. Flat|
> |Actual Disbursement Amount =|Disbursement amount entered - upfront fees amount|
> |Repayment schedule|Repayment schedule should be calculated based on the actual disbursement amount(Disbursement amount entered - upfront fees)|
> |Transaction|Upfront fees should be collected at the time of disbursement(as shown in the transaction sample)|
> |Accounting entry|no changes in accounting entries. it remains standard OOB for disbursement, fees, and transactions|
> |Repayment schedule calculation  |once disbursed with the actual  disbursement  amount- all  calculation  remains the same as OOB as per product configuration|



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