[jira] [Updated] (FINERACT-608) Share Dividends wrongly calculated

["Santosh Math (JIRA)" <ji...@apache.org>]

     [ https://issues.apache.org/jira/browse/FINERACT-608?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]

Santosh Math updated FINERACT-608:
----------------------------------
    Fix Version/s:     (was: 1.4.0)
                   1.5.0

> Share Dividends wrongly calculated
> ----------------------------------
>
>                 Key: FINERACT-608
>                 URL: https://issues.apache.org/jira/browse/FINERACT-608
>             Project: Apache Fineract
>          Issue Type: Bug
>          Components: Shares
>    Affects Versions: 1.0.0
>            Reporter: Ippez Roberts
>            Priority: Critical
>             Fix For: 1.5.0
>
>
> I have seen some behavior with Share Account and Dividend.
> I initiated a dividend payout of 100,000 to 4 clients with shares as below
>  
> *Product>>Share Product>>Share Account (product name)>>Dividends*
> ||Name||Dividend Period Start Date||Dividend Period End Date||Dividend Amount||Status||
> |Share Account|01 January 2017|31 December 2017|100,000|Dividend Approved|
>  
> |*Client Name*|*No. of Shares*|
> |Asienzo|38 (approved)               1 pending approval|
> |Mureo|40 (approved)|
> |Drani|6 (approved)|
> |Amatura|0|
> |*TOTAL SHARES*|*84 (approved)               1 pending approval*|
>  
> The distribution of dividend is as follow which to me is wrong.
>  
> ||Client Name||Share Account||Dividend Amount||Status||
> |Asienzo Clara|21-00001-0|29,260.01|Dividend Initiated|
> |Mureo Stella|21-00002-3|61,078.95|Dividend Initiated|
> |Drani Joseph|21-00003-1|8,192.8|Dividend Initiated|
> |Amatura Women's Group|21-00004-0|1,468.24|Dividend Initiated|
> *Justification*
>  # ‌Dividend per share = 100,000/84 = 1,190.48 ==> This is because there are 84 approved shares, the 1 pending approval doesn't get dividend.
>  # Amatura Women's Group doesn't qualify for dividend because there is no share purchased though they have opened a share account.
>  # To me the share distribution table should be as below:-
> ||Client Name||Share Account||Dividend Amount||Status||
> |Asienzo Clara|21-00001-0|45,238.24|Dividend Initiated|
> |Mureo Stella|21-00002-3|47,619.2|Dividend Initiated|
> |Drani Joseph|21-00003-1|7,142.88|Dividend Initiated|
> |Amatura Women's Group|21-00004-0|0|Dividend Initiated|
>  
>  Example, If we are calculating dividend for 2017, we get the total shares at the organisation since inception of the organisation e.g if the organisation started in 2003, we shall get total shares from 2003 upto 31st Dec 2017. Say its 360 shares.
>   
>  Then if the approved dividend to be given to members is 720,000, we then get how much each share will get i.e 720,000/360 = *2,000*
>  Now that we know each share gets 2,000, this will be the multiplying factor for each members total share.
>   
>  Eg.
>  *Client Name               Total Shares                  Dividend*
>  Client 1                                 1                                 2,000
>  Client 2                                 5                                10,000
>  Client 3                                10                               20,000
>  Client 4                                 0                                 0
>  ....... etc
>   
>  *TOTAL                               360                              720,000*
>   
>  Total amount given to clients should be equal to approved dividend.



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