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Posted to dev@fineract.apache.org by Vishwas Babu <vi...@confluxtechnologies.com> on 2019/03/06 03:21:20 UTC
Re: Repayment of Loans
Mexina,
I am not sure if you are enquiring about provisioning and/or recovery
repayments.
Fineract has support for configurable provisioning, see
https://mifosforge.jira.com/wiki/spaces/docs/pages/110690335/Provisioning+Entries
and
https://cwiki.apache.org/confluence/display/FINERACT/Loan+Loss+Provisioning.
If you are enquiring about Recovery repayments (payments on loans which
have been written off) which are treated as an income, Fineract has support
for the same too. See https://mifosforge.jira.com/browse/MIFOSX-281
Regards,
Vishwas
On Tue, Feb 26, 2019 at 4:30 AM Mexina Daniel <me...@singo.africa> wrote:
> Dear devs
>
> I have the question like http://mifos.cloud.answerhub.com/questions/794/what-is-the-consequence-of-npa-schedule-job.html
> which was never answered.
>
> Also if the loan has been in NPA for a long time and it has already been
> provisioned as expense, shouldn't its repayment being considered as income?
> does the system support that?
>
> Thanks in advance.
>
> Best Regards
>
> ---------------------
>
> Mexina Daniel
>
> Singo Africa Limited
> Block G, Mbezi Beach B | 7 Nakawale Road | P.O BOX 78908 | 14121 Dar es
> salaam
>
> +255 71 211 0791 | +255 22 261 8511
>
> amala.co.tz | singo.africa
>
>
>
Re: Repayment of Loans
Posted by Vishwas Babu <vi...@confluxtechnologies.com>.
Mexina,
Please take my responses with a pinch of salt as I have not used Fineract
for more than 3 years now.
>> 1. What is the effect/use of configuring NPA fields on the loan product?
Once a loan moves into NPA status, accruals are stopped on the same. I
think Fineract leaves the existing accruals that are not yet realized as is.
>>2. After you have put aside some amount by provisioning ( by posting the
provisions on accounts) is there anything happens when a certain loan which
was provisioned get re-payed or written off?
The provisioning process can be automated (through batch jobs) or run
manually. When new provisioning entries are created, any existing
provisioning would be reversed and the latest provisioning is done based on
the current statuses of active loans.
Regards,
Vishwas
On Wed, Mar 6, 2019 at 7:43 AM Mexina Daniel <me...@singo.africa> wrote:
> Dear Vishwas
>
> I was inquiring on:-
>
> 1. What is the effect/use of configuring NPA fields on the loan product?
> am aware that on the system, the recovery repayment is considered as income
> since it was written off ( considered as expense)
>
> Addition
>
> 2. After you have put aside some amount by provisioning ( by posting the
> provisions on accounts) is there anything happens when a certain loan which
> was provisioned get re-payed or written off?( since it won't be on arrears
> anymore)
>
> Tnhaks in advance
>
> On March 6, 2019 at 8:51 AM Vishwas Babu <vi...@confluxtechnologies.com>
> wrote:
>
> Mexina,
>
> I am not sure if you are enquiring about provisioning and/or recovery
> repayments.
>
> Fineract has support for configurable provisioning, see
> https://mifosforge.jira.com/wiki/spaces/docs/pages/110690335/Provisioning+Entries
>
> and
> https://cwiki.apache.org/confluence/display/FINERACT/Loan+Loss+Provisioning
> .
>
> If you are enquiring about Recovery repayments (payments on loans which
> have been written off) which are treated as an income, Fineract has support
> for the same too. See https://mifosforge.jira.com/browse/MIFOSX-281
>
> Regards,
> Vishwas
>
>
> On Tue, Feb 26, 2019 at 4:30 AM Mexina Daniel <me...@singo.africa> wrote:
>
> Dear devs
>
> I have the question like http://mifos.cloud.answerhub.com/questions/794/what-is-the-consequence-of-npa-schedule-job.html
> which was never answered.
>
> Also if the loan has been in NPA for a long time and it has already been
> provisioned as expense, shouldn't its repayment being considered as income?
> does the system support that?
>
> Thanks in advance.
>
> Best Regards
>
> ---------------------
>
> Mexina Daniel
>
> Singo Africa Limited
> Block G, Mbezi Beach B | 7 Nakawale Road | P.O BOX 78908 | 14121 Dar es
> salaam
>
> +255 71 211 0791 | +255 22 261 8511
>
> amala.co.tz | singo.africa
>
>
>
>
> Mexina Daniel
>
> Singo Africa Limited
> Block G, Mbezi Beach B | 7 Nakawale Road | P.O BOX 78908 | 14121 Dar es
> salaam
>
> +255 71 211 0791 | +255 22 261 8511
>
> amala.co.tz | singo.africa
>
>
>
Re: Repayment of Loans
Posted by Mexina Daniel <me...@singo.africa>.
Dear Vishwas
I was inquiring on:-
1. What is the effect/use of configuring NPA fields on the loan product? am aware that on the system, the recovery repayment is considered as income since it was written off ( considered as expense)
Addition
2. After you have put aside some amount by provisioning ( by posting the provisions on accounts) is there anything happens when a certain loan which was provisioned get re-payed or written off?( since it won't be on arrears anymore)
Tnhaks in advance
> On March 6, 2019 at 8:51 AM Vishwas Babu <vi...@confluxtechnologies.com> wrote:
>
> Mexina,
>
> I am not sure if you are enquiring about provisioning and/or recovery repayments.
>
> Fineract has support for configurable provisioning, see https://mifosforge.jira.com/wiki/spaces/docs/pages/110690335/Provisioning+Entries
> and https://cwiki.apache.org/confluence/display/FINERACT/Loan+Loss+Provisioning.
>
> If you are enquiring about Recovery repayments (payments on loans which have been written off) which are treated as an income, Fineract has support for the same too. See https://mifosforge.jira.com/browse/MIFOSX-281
>
> Regards,
> Vishwas
>
>
> On Tue, Feb 26, 2019 at 4:30 AM Mexina Daniel <me...@singo.africa> wrote:
>
> > >
> > Dear devs
> >
> > I have the question like http://mifos.cloud.answerhub.com/questions/794/what-is-the-consequence-of-npa-schedule-job.html http://mifos.cloud.answerhub.com/questions/794/what-is-the-consequence-of-npa-schedule-job.html which was never answered.
> >
> > Also if the loan has been in NPA for a long time and it has already been provisioned as expense, shouldn't its repayment being considered as income? does the system support that?
> >
> > Thanks in advance.
> >
> > Best Regards
> >
> > ---------------------
> >
> > Mexina Daniel
> >
> > Singo Africa Limited
> > Block G, Mbezi Beach B | 7 Nakawale Road | P.O BOX 78908 | 14121 Dar es
> > salaam
> >
> > +255 71 211 0791 | +255 22 261 8511
> >
> > amala.co.tz https://amala.co.tz/ | singo.africa https://singo.africa
> >
> >
> >
> > >
Mexina Daniel
Singo Africa Limited
Block G, Mbezi Beach B | 7 Nakawale Road | P.O BOX 78908 | 14121 Dar es
salaam
+255 71 211 0791 | +255 22 261 8511
amala.co.tz https://amala.co.tz/ | singo.africa https://singo.africa