[jira] [Updated] (FINERACT-158) Prepay loan with installment fee attached will go to the overpaid state than getting closed

["Edward Cable (JIRA)" <ji...@apache.org>]

     [ https://issues.apache.org/jira/browse/FINERACT-158?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]

Edward Cable updated FINERACT-158:
----------------------------------
    Labels: p1  (was: )

> Prepay loan with installment fee attached will go to the overpaid state than getting closed
> -------------------------------------------------------------------------------------------
>
>                 Key: FINERACT-158
>                 URL: https://issues.apache.org/jira/browse/FINERACT-158
>             Project: Apache Fineract
>          Issue Type: Bug
>          Components: Loan
>            Reporter: subramanyasn
>            Assignee: Markus Geiss
>              Labels: p1
>         Attachments: Overpaid state of loan.png
>
>
> 1. Create loan product with following datasets
> Repayment Strategy: Overdue/Due Fee/Int,Principal
> Repayments: 12 every 1 Months on  
> Amortization: Equal installments
> Interest: 12 per annum (1%  Per month) - Declining Balance
> Grace: On Principal Payment 	
> Grace: On Interest Payment 	
> Interest Calculation Period: Same as repayment period
> Interest Type: 	Declining Balance
> Recalculate Interest: Yes
> Days in year: Actual
> Days in month: Actual
> Interest recalculation compounding on: None
> Advance payments adjustment type: Reduce EMI amount
> Frequency for recalculate Outstanding Principal: Same as repayment period.
> 2. Submit new loan application for a client on 01 March 2016 with installment fee attached (Installment fee - Flat- 100). Approve and disburse on same date.
> 3. Click on Prepay loan and make prepayment on current system date.
> 4. Loan is going to overpaid state than moving to closed state.



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