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Posted to issues@fineract.apache.org by "bharath gowda (Jira)" <ji...@apache.org> on 2022/09/16 11:24:00 UTC
[jira] [Updated] (FINERACT-1746) Random Installments Generation Issue
[ https://issues.apache.org/jira/browse/FINERACT-1746?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
bharath gowda updated FINERACT-1746:
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Description:
In an interest recalculation enabled loan, we are noticing the EMI of the last installment is going wrong for the following scenario
To reproduce
# Create the loan product as per the config attached
# Have working day configured from Monday to Friday with "move to next working day"
# Create a loan account and disburse with the following parameters
## Disbursement date: 28 January 2022
## First Repayment date: 1 March 2022
## amount: 1000
## repayment: 12 every 1 month
## interest rate 23.9 per annum (which will get you an EMI 94.35
## Now make the repayments in the following order
### 01-March-2022 - 94.35
### 01-April-2022 - 94.35
### 03-May-2022 - 94.35
### 01-June-2022 - 94.35
### 01-July-2022 - 94.35
### 01-August-2022 - 94.35
## Now check the repayment schedule & EMI & Interest
### The whole Installments would be wrong
### The last installment amount will be showing the wrong amount.
### check the interest amount collected - this is going wrong too
# Check the schedule screenshot for examples
was:
In an interest recalculation enabled loan, we are noticing the EMI of the last installment is going wrong for the following scenario
To reproduce
# Create the loan product as per the config attached
# Have working day configured from Monday to Friday with "move to next working day"
# Create a loan account and disburse with the following parameters
## Disbursement date: 28 January 2022
## First Repayment date: 1 March 2022
## amount: 1000
## repayment: 12 every 1 month
## interest rate 23.9 per annum (which will get you an EMI 94.35
## Now make the repayments in the following order
### 01-March-2022 - 94.35
### 01-April-2022 - 94.35
### 03-May-2022 - 94.35
### 01-June-2022 - 94.35
### 01-July-2022 - 94.35
### 01-August-2022 - 94.35
## Now check the repayment schedule & EMI
### The whole Installments would be wrong
### The last installment amount will be showing the wrong amount.
# Check the schedule screenshot for examples
> Random Installments Generation Issue
> ------------------------------------
>
> Key: FINERACT-1746
> URL: https://issues.apache.org/jira/browse/FINERACT-1746
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Affects Versions: 1.7.0
> Reporter: bharath gowda
> Priority: Critical
> Attachments: after.png, before.png, last installment issue.png, loan product.png
>
>
> In an interest recalculation enabled loan, we are noticing the EMI of the last installment is going wrong for the following scenario
>
> To reproduce
> # Create the loan product as per the config attached
> # Have working day configured from Monday to Friday with "move to next working day"
> # Create a loan account and disburse with the following parameters
> ## Disbursement date: 28 January 2022
> ## First Repayment date: 1 March 2022
> ## amount: 1000
> ## repayment: 12 every 1 month
> ## interest rate 23.9 per annum (which will get you an EMI 94.35
> ## Now make the repayments in the following order
> ### 01-March-2022 - 94.35
> ### 01-April-2022 - 94.35
> ### 03-May-2022 - 94.35
> ### 01-June-2022 - 94.35
> ### 01-July-2022 - 94.35
> ### 01-August-2022 - 94.35
> ## Now check the repayment schedule & EMI & Interest
> ### The whole Installments would be wrong
> ### The last installment amount will be showing the wrong amount.
> ### check the interest amount collected - this is going wrong too
> # Check the schedule screenshot for examples
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