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Posted to dev@fineract.apache.org by Andrew Dzakpasu <an...@musonisystem.com> on 2017/12/11 16:11:16 UTC
system behaviour of share account
Hi
I have currently been playing around with creating of share account. I
have notice a behaviour which is not consistent with other parts of the
system in regards to bookings of journals.
Is there any reason why bookings are made prior to a share account been
active ?.
An Example is
1. When creating a share account with a share purchase charge of 2 dollars
and number of shares as 10. After creating the share account you will
notice that bookings have already been made in the journals entry. Even
though the share account is not active yet
2. When you approve the share account above. You will again notice bookings
in the journal entry are made. Even though the share account is not active
yet.
3. I also notice when an activation share charge is attached to a share
account. When the share account is created there is a entry created in the
"m_share_account_charge_paid_by" even though the charge is not paid. In
other parts of the system i.e. loans or savings this entry is only made
when the charge is paid for or for savings this is made when the savings
account is active.
What is the reason for the prior bookings before the share account is
active as this is very confusing.
Can anybody explain why this is done so.
kind regards
Andrew
Re: system behaviour of share account
Posted by Santosh Math <sa...@confluxtechnologies.com>.
Hi All,
It's not an issue. Sorry for the confusion.
@Andrew, I put the comment with screenshot here:
https://issues.apache.org/jira/browse/FINERACT-574
Let me know if you need any clarification.
Regards
Santosh
On Tue, Dec 12, 2017 at 5:50 PM, Nazeer Shaik <
nazeer.shaik@confluxtechnologies.com> wrote:
> Correct location https://staging.openmf.org/#/viewshareaccount/10
>
>
> On Tue, Dec 12, 2017 at 5:49 PM, Nazeer Shaik <
> nazeer.shaik@confluxtechnologies.com> wrote:
>
> > You can find this account details here https://staging.openmf.
> > org/#/viewshareaccount/1
> > Username&Password -> mifos, password
> >
> > Regards,
> > Nazeer
> >
> >
> > On Tue, Dec 12, 2017 at 5:36 PM, Nazeer Shaik <nazeer.shaik@
> > confluxtechnologies.com> wrote:
> >
> >> Hi Sander,
> >>
> >> We have 3 types of charges.
> >> 1) Purchase charges -> It will be applied on share purchases
> >> 2) Redeem charges -> It will be applied on share redeems
> >> 3) Account activation charges -> It will be collected on account
> >> activation. (May be we need to change the label in the community app)
> >>
> >> See one example below
> >>
> >> Journal Entries:
> >> id account_id office_id currency_code transaction_id entry_date
> type_enum
> >> amount office_running_balance organization_running_balance
> >> share_transaction_id
> >> 192 36 1 USD SH19 12-12-2017 2 7 7 7 19
> >> 193 37 1 USD SH19 12-12-2017 1 5 5 5 19
> >> 194 39 1 USD SH19 12-12-2017 1 2 2 2 19
> >> 195 37 1 USD SH19 12-12-2017 2 5 0 0 19
> >> 196 38 1 USD SH19 12-12-2017 1 5 *5* 5 19
> >> 197 36 1 USD SH18 12-12-2017 2 4 *11* 11 18
> >> 198 39 1 USD SH18 12-12-2017 1 4 *6* 6 18
> >> Account 36 Share Reference
> >> Account 37 Share Suspense Control
> >> Account 38 Share Equity
> >> Account 39 Income from Fees
> >> *Count* *Price($)*
> >> Shares Purchased 10 0.5
> >> Purchase Charge (Flat) 2
> >> Total 7
> >> Activation Charge (Flat) 4
> >> Total 11
> >> Can you give bit more details which one is not matching please.
> >>
> >> Regards,
> >> Nazeer
> >>
> >> On Tue, Dec 12, 2017 at 5:09 PM, Sander van der Heyden <
> >> sandervanderheyden@musonisystem.com> wrote:
> >>
> >>> Hi Nazeer, Santosh,
> >>>
> >>> When it comes to the charges bookings, we've seen that it is only
> booked
> >>> upon activation. That however creates a situation where your charges on
> >>> share accounts are not equal to the balance in your GL accounts which
> is
> >>> not only confusing to customers, but also technically incorrect. I
> would
> >>> therefore recommend to also only add the charge at time of activation,
> >>> same
> >>> way it is done for savings accounts and other deposit products. This
> way
> >>> the system behaves consistently across products and it becomes easier
> to
> >>> document and explain to endusers.
> >>>
> >>> S
> >>>
> >>>
> >>>
> >>> Sander van der Heyden
> >>>
> >>> CTO Musoni Services
> >>>
> >>>
> >>>
> >>>
> >>> Mobile (NL): +31 (0)6 14239505
> >>> Skype: s.vdheyden
> >>> Website: musonisystem.com
> >>> Follow us on Twitter! <https://twitter.com/musonimfi>
> >>> Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam,
> >>> The Netherlands
> >>>
> >>> On 12 December 2017 at 12:27, Nazeer Shaik <
> >>> nazeer.shaik@confluxtechnologies.com> wrote:
> >>>
> >>> > Hi Santosh,
> >>> >
> >>> > As discussed it is not adding duplicate journal entries. Once account
> >>> is
> >>> > created, it is adding the journal entries for Share Reference, Share
> >>> > Suspense Control, Income from fees (if purchase charge is added).
> >>> > Once account is approved, Suspense amount will be moved to Share
> >>> Equity. So
> >>> > we are adding new journal entries.
> >>> > Once account is activated, the activation charge journal entries are
> >>> added.
> >>> >
> >>> > Please verify all possible scenarios provide detailed explanation to
> >>> > Andrew. If any issue is there, please update in the already created
> >>> jira
> >>> > issue.
> >>> >
> >>> > Regards,
> >>> > Nazeer
> >>> >
> >>> > On Tue, Dec 12, 2017 at 10:02 AM, Santosh Math <
> >>> > santosh@confluxtechnologies.com> wrote:
> >>> >
> >>> > > Hi Andreew,
> >>> > >
> >>> > > This issue exists and raised here:
> >>> > >
> >>> > > https://issues.apache.org/jira/browse/FINERACT-574
> >>> > >
> >>> > > Let me know if I am missing something.
> >>> > >
> >>> > > Thanks
> >>> > > Santosh
> >>> > > On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu <
> >>> > > andrewdzakpasu@musonisystem.com> wrote:
> >>> > >
> >>> > > > Hi
> >>> > > > I have currently been playing around with creating of share
> >>> > > account. I
> >>> > > > have notice a behaviour which is not consistent with other parts
> >>> of the
> >>> > > > system in regards to bookings of journals.
> >>> > > > Is there any reason why bookings are made prior to a share
> account
> >>> been
> >>> > > > active ?.
> >>> > > > An Example is
> >>> > > >
> >>> > > > 1. When creating a share account with a share purchase charge of
> 2
> >>> > > dollars
> >>> > > > and number of shares as 10. After creating the share account you
> >>> will
> >>> > > > notice that bookings have already been made in the journals
> entry.
> >>> Even
> >>> > > > though the share account is not active yet
> >>> > > >
> >>> > > > 2. When you approve the share account above. You will again
> notice
> >>> > > bookings
> >>> > > > in the journal entry are made. Even though the share account is
> not
> >>> > > active
> >>> > > > yet.
> >>> > > >
> >>> > > > 3. I also notice when an activation share charge is attached to a
> >>> share
> >>> > > > account. When the share account is created there is a entry
> >>> created in
> >>> > > the
> >>> > > > "m_share_account_charge_paid_by" even though the charge is not
> >>> paid.
> >>> > In
> >>> > > > other parts of the system i.e. loans or savings this entry is
> only
> >>> > made
> >>> > > > when the charge is paid for or for savings this is made when the
> >>> > savings
> >>> > > > account is active.
> >>> > > >
> >>> > > > What is the reason for the prior bookings before the share
> account
> >>> is
> >>> > > > active as this is very confusing.
> >>> > > > Can anybody explain why this is done so.
> >>> > > >
> >>> > > > kind regards
> >>> > > > Andrew
> >>> > > >
> >>> > >
> >>> >
> >>>
> >>
> >>
> >
>
Re: system behaviour of share account
Posted by Nazeer Shaik <na...@confluxtechnologies.com>.
Correct location https://staging.openmf.org/#/viewshareaccount/10
On Tue, Dec 12, 2017 at 5:49 PM, Nazeer Shaik <
nazeer.shaik@confluxtechnologies.com> wrote:
> You can find this account details here https://staging.openmf.
> org/#/viewshareaccount/1
> Username&Password -> mifos, password
>
> Regards,
> Nazeer
>
>
> On Tue, Dec 12, 2017 at 5:36 PM, Nazeer Shaik <nazeer.shaik@
> confluxtechnologies.com> wrote:
>
>> Hi Sander,
>>
>> We have 3 types of charges.
>> 1) Purchase charges -> It will be applied on share purchases
>> 2) Redeem charges -> It will be applied on share redeems
>> 3) Account activation charges -> It will be collected on account
>> activation. (May be we need to change the label in the community app)
>>
>> See one example below
>>
>> Journal Entries:
>> id account_id office_id currency_code transaction_id entry_date type_enum
>> amount office_running_balance organization_running_balance
>> share_transaction_id
>> 192 36 1 USD SH19 12-12-2017 2 7 7 7 19
>> 193 37 1 USD SH19 12-12-2017 1 5 5 5 19
>> 194 39 1 USD SH19 12-12-2017 1 2 2 2 19
>> 195 37 1 USD SH19 12-12-2017 2 5 0 0 19
>> 196 38 1 USD SH19 12-12-2017 1 5 *5* 5 19
>> 197 36 1 USD SH18 12-12-2017 2 4 *11* 11 18
>> 198 39 1 USD SH18 12-12-2017 1 4 *6* 6 18
>> Account 36 Share Reference
>> Account 37 Share Suspense Control
>> Account 38 Share Equity
>> Account 39 Income from Fees
>> *Count* *Price($)*
>> Shares Purchased 10 0.5
>> Purchase Charge (Flat) 2
>> Total 7
>> Activation Charge (Flat) 4
>> Total 11
>> Can you give bit more details which one is not matching please.
>>
>> Regards,
>> Nazeer
>>
>> On Tue, Dec 12, 2017 at 5:09 PM, Sander van der Heyden <
>> sandervanderheyden@musonisystem.com> wrote:
>>
>>> Hi Nazeer, Santosh,
>>>
>>> When it comes to the charges bookings, we've seen that it is only booked
>>> upon activation. That however creates a situation where your charges on
>>> share accounts are not equal to the balance in your GL accounts which is
>>> not only confusing to customers, but also technically incorrect. I would
>>> therefore recommend to also only add the charge at time of activation,
>>> same
>>> way it is done for savings accounts and other deposit products. This way
>>> the system behaves consistently across products and it becomes easier to
>>> document and explain to endusers.
>>>
>>> S
>>>
>>>
>>>
>>> Sander van der Heyden
>>>
>>> CTO Musoni Services
>>>
>>>
>>>
>>>
>>> Mobile (NL): +31 (0)6 14239505
>>> Skype: s.vdheyden
>>> Website: musonisystem.com
>>> Follow us on Twitter! <https://twitter.com/musonimfi>
>>> Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam,
>>> The Netherlands
>>>
>>> On 12 December 2017 at 12:27, Nazeer Shaik <
>>> nazeer.shaik@confluxtechnologies.com> wrote:
>>>
>>> > Hi Santosh,
>>> >
>>> > As discussed it is not adding duplicate journal entries. Once account
>>> is
>>> > created, it is adding the journal entries for Share Reference, Share
>>> > Suspense Control, Income from fees (if purchase charge is added).
>>> > Once account is approved, Suspense amount will be moved to Share
>>> Equity. So
>>> > we are adding new journal entries.
>>> > Once account is activated, the activation charge journal entries are
>>> added.
>>> >
>>> > Please verify all possible scenarios provide detailed explanation to
>>> > Andrew. If any issue is there, please update in the already created
>>> jira
>>> > issue.
>>> >
>>> > Regards,
>>> > Nazeer
>>> >
>>> > On Tue, Dec 12, 2017 at 10:02 AM, Santosh Math <
>>> > santosh@confluxtechnologies.com> wrote:
>>> >
>>> > > Hi Andreew,
>>> > >
>>> > > This issue exists and raised here:
>>> > >
>>> > > https://issues.apache.org/jira/browse/FINERACT-574
>>> > >
>>> > > Let me know if I am missing something.
>>> > >
>>> > > Thanks
>>> > > Santosh
>>> > > On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu <
>>> > > andrewdzakpasu@musonisystem.com> wrote:
>>> > >
>>> > > > Hi
>>> > > > I have currently been playing around with creating of share
>>> > > account. I
>>> > > > have notice a behaviour which is not consistent with other parts
>>> of the
>>> > > > system in regards to bookings of journals.
>>> > > > Is there any reason why bookings are made prior to a share account
>>> been
>>> > > > active ?.
>>> > > > An Example is
>>> > > >
>>> > > > 1. When creating a share account with a share purchase charge of 2
>>> > > dollars
>>> > > > and number of shares as 10. After creating the share account you
>>> will
>>> > > > notice that bookings have already been made in the journals entry.
>>> Even
>>> > > > though the share account is not active yet
>>> > > >
>>> > > > 2. When you approve the share account above. You will again notice
>>> > > bookings
>>> > > > in the journal entry are made. Even though the share account is not
>>> > > active
>>> > > > yet.
>>> > > >
>>> > > > 3. I also notice when an activation share charge is attached to a
>>> share
>>> > > > account. When the share account is created there is a entry
>>> created in
>>> > > the
>>> > > > "m_share_account_charge_paid_by" even though the charge is not
>>> paid.
>>> > In
>>> > > > other parts of the system i.e. loans or savings this entry is only
>>> > made
>>> > > > when the charge is paid for or for savings this is made when the
>>> > savings
>>> > > > account is active.
>>> > > >
>>> > > > What is the reason for the prior bookings before the share account
>>> is
>>> > > > active as this is very confusing.
>>> > > > Can anybody explain why this is done so.
>>> > > >
>>> > > > kind regards
>>> > > > Andrew
>>> > > >
>>> > >
>>> >
>>>
>>
>>
>
Re: system behaviour of share account
Posted by Nazeer Shaik <na...@confluxtechnologies.com>.
You can find this account details here
https://staging.openmf.org/#/viewshareaccount/1
Username&Password -> mifos, password
Regards,
Nazeer
On Tue, Dec 12, 2017 at 5:36 PM, Nazeer Shaik <
nazeer.shaik@confluxtechnologies.com> wrote:
> Hi Sander,
>
> We have 3 types of charges.
> 1) Purchase charges -> It will be applied on share purchases
> 2) Redeem charges -> It will be applied on share redeems
> 3) Account activation charges -> It will be collected on account
> activation. (May be we need to change the label in the community app)
>
> See one example below
>
> Journal Entries:
> id account_id office_id currency_code transaction_id entry_date type_enum
> amount office_running_balance organization_running_balance
> share_transaction_id
> 192 36 1 USD SH19 12-12-2017 2 7 7 7 19
> 193 37 1 USD SH19 12-12-2017 1 5 5 5 19
> 194 39 1 USD SH19 12-12-2017 1 2 2 2 19
> 195 37 1 USD SH19 12-12-2017 2 5 0 0 19
> 196 38 1 USD SH19 12-12-2017 1 5 *5* 5 19
> 197 36 1 USD SH18 12-12-2017 2 4 *11* 11 18
> 198 39 1 USD SH18 12-12-2017 1 4 *6* 6 18
> Account 36 Share Reference
> Account 37 Share Suspense Control
> Account 38 Share Equity
> Account 39 Income from Fees
> *Count* *Price($)*
> Shares Purchased 10 0.5
> Purchase Charge (Flat) 2
> Total 7
> Activation Charge (Flat) 4
> Total 11
> Can you give bit more details which one is not matching please.
>
> Regards,
> Nazeer
>
> On Tue, Dec 12, 2017 at 5:09 PM, Sander van der Heyden <
> sandervanderheyden@musonisystem.com> wrote:
>
>> Hi Nazeer, Santosh,
>>
>> When it comes to the charges bookings, we've seen that it is only booked
>> upon activation. That however creates a situation where your charges on
>> share accounts are not equal to the balance in your GL accounts which is
>> not only confusing to customers, but also technically incorrect. I would
>> therefore recommend to also only add the charge at time of activation,
>> same
>> way it is done for savings accounts and other deposit products. This way
>> the system behaves consistently across products and it becomes easier to
>> document and explain to endusers.
>>
>> S
>>
>>
>>
>> Sander van der Heyden
>>
>> CTO Musoni Services
>>
>>
>>
>>
>> Mobile (NL): +31 (0)6 14239505
>> Skype: s.vdheyden
>> Website: musonisystem.com
>> Follow us on Twitter! <https://twitter.com/musonimfi>
>> Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam,
>> The Netherlands
>>
>> On 12 December 2017 at 12:27, Nazeer Shaik <
>> nazeer.shaik@confluxtechnologies.com> wrote:
>>
>> > Hi Santosh,
>> >
>> > As discussed it is not adding duplicate journal entries. Once account is
>> > created, it is adding the journal entries for Share Reference, Share
>> > Suspense Control, Income from fees (if purchase charge is added).
>> > Once account is approved, Suspense amount will be moved to Share
>> Equity. So
>> > we are adding new journal entries.
>> > Once account is activated, the activation charge journal entries are
>> added.
>> >
>> > Please verify all possible scenarios provide detailed explanation to
>> > Andrew. If any issue is there, please update in the already created jira
>> > issue.
>> >
>> > Regards,
>> > Nazeer
>> >
>> > On Tue, Dec 12, 2017 at 10:02 AM, Santosh Math <
>> > santosh@confluxtechnologies.com> wrote:
>> >
>> > > Hi Andreew,
>> > >
>> > > This issue exists and raised here:
>> > >
>> > > https://issues.apache.org/jira/browse/FINERACT-574
>> > >
>> > > Let me know if I am missing something.
>> > >
>> > > Thanks
>> > > Santosh
>> > > On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu <
>> > > andrewdzakpasu@musonisystem.com> wrote:
>> > >
>> > > > Hi
>> > > > I have currently been playing around with creating of share
>> > > account. I
>> > > > have notice a behaviour which is not consistent with other parts of
>> the
>> > > > system in regards to bookings of journals.
>> > > > Is there any reason why bookings are made prior to a share account
>> been
>> > > > active ?.
>> > > > An Example is
>> > > >
>> > > > 1. When creating a share account with a share purchase charge of 2
>> > > dollars
>> > > > and number of shares as 10. After creating the share account you
>> will
>> > > > notice that bookings have already been made in the journals entry.
>> Even
>> > > > though the share account is not active yet
>> > > >
>> > > > 2. When you approve the share account above. You will again notice
>> > > bookings
>> > > > in the journal entry are made. Even though the share account is not
>> > > active
>> > > > yet.
>> > > >
>> > > > 3. I also notice when an activation share charge is attached to a
>> share
>> > > > account. When the share account is created there is a entry created
>> in
>> > > the
>> > > > "m_share_account_charge_paid_by" even though the charge is not
>> paid.
>> > In
>> > > > other parts of the system i.e. loans or savings this entry is only
>> > made
>> > > > when the charge is paid for or for savings this is made when the
>> > savings
>> > > > account is active.
>> > > >
>> > > > What is the reason for the prior bookings before the share account
>> is
>> > > > active as this is very confusing.
>> > > > Can anybody explain why this is done so.
>> > > >
>> > > > kind regards
>> > > > Andrew
>> > > >
>> > >
>> >
>>
>
>
Re: system behaviour of share account
Posted by Nazeer Shaik <na...@confluxtechnologies.com>.
Hi Sander,
We have 3 types of charges.
1) Purchase charges -> It will be applied on share purchases
2) Redeem charges -> It will be applied on share redeems
3) Account activation charges -> It will be collected on account
activation. (May be we need to change the label in the community app)
See one example below
Journal Entries:
id account_id office_id currency_code transaction_id entry_date type_enum
amount office_running_balance organization_running_balance
share_transaction_id
192 36 1 USD SH19 12-12-2017 2 7 7 7 19
193 37 1 USD SH19 12-12-2017 1 5 5 5 19
194 39 1 USD SH19 12-12-2017 1 2 2 2 19
195 37 1 USD SH19 12-12-2017 2 5 0 0 19
196 38 1 USD SH19 12-12-2017 1 5 *5* 5 19
197 36 1 USD SH18 12-12-2017 2 4 *11* 11 18
198 39 1 USD SH18 12-12-2017 1 4 *6* 6 18
Account 36 Share Reference
Account 37 Share Suspense Control
Account 38 Share Equity
Account 39 Income from Fees
*Count* *Price($)*
Shares Purchased 10 0.5
Purchase Charge (Flat) 2
Total 7
Activation Charge (Flat) 4
Total 11
Can you give bit more details which one is not matching please.
Regards,
Nazeer
On Tue, Dec 12, 2017 at 5:09 PM, Sander van der Heyden <
sandervanderheyden@musonisystem.com> wrote:
> Hi Nazeer, Santosh,
>
> When it comes to the charges bookings, we've seen that it is only booked
> upon activation. That however creates a situation where your charges on
> share accounts are not equal to the balance in your GL accounts which is
> not only confusing to customers, but also technically incorrect. I would
> therefore recommend to also only add the charge at time of activation, same
> way it is done for savings accounts and other deposit products. This way
> the system behaves consistently across products and it becomes easier to
> document and explain to endusers.
>
> S
>
>
>
> Sander van der Heyden
>
> CTO Musoni Services
>
>
>
>
> Mobile (NL): +31 (0)6 14239505
> Skype: s.vdheyden
> Website: musonisystem.com
> Follow us on Twitter! <https://twitter.com/musonimfi>
> Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam,
> The Netherlands
>
> On 12 December 2017 at 12:27, Nazeer Shaik <
> nazeer.shaik@confluxtechnologies.com> wrote:
>
> > Hi Santosh,
> >
> > As discussed it is not adding duplicate journal entries. Once account is
> > created, it is adding the journal entries for Share Reference, Share
> > Suspense Control, Income from fees (if purchase charge is added).
> > Once account is approved, Suspense amount will be moved to Share Equity.
> So
> > we are adding new journal entries.
> > Once account is activated, the activation charge journal entries are
> added.
> >
> > Please verify all possible scenarios provide detailed explanation to
> > Andrew. If any issue is there, please update in the already created jira
> > issue.
> >
> > Regards,
> > Nazeer
> >
> > On Tue, Dec 12, 2017 at 10:02 AM, Santosh Math <
> > santosh@confluxtechnologies.com> wrote:
> >
> > > Hi Andreew,
> > >
> > > This issue exists and raised here:
> > >
> > > https://issues.apache.org/jira/browse/FINERACT-574
> > >
> > > Let me know if I am missing something.
> > >
> > > Thanks
> > > Santosh
> > > On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu <
> > > andrewdzakpasu@musonisystem.com> wrote:
> > >
> > > > Hi
> > > > I have currently been playing around with creating of share
> > > account. I
> > > > have notice a behaviour which is not consistent with other parts of
> the
> > > > system in regards to bookings of journals.
> > > > Is there any reason why bookings are made prior to a share account
> been
> > > > active ?.
> > > > An Example is
> > > >
> > > > 1. When creating a share account with a share purchase charge of 2
> > > dollars
> > > > and number of shares as 10. After creating the share account you will
> > > > notice that bookings have already been made in the journals entry.
> Even
> > > > though the share account is not active yet
> > > >
> > > > 2. When you approve the share account above. You will again notice
> > > bookings
> > > > in the journal entry are made. Even though the share account is not
> > > active
> > > > yet.
> > > >
> > > > 3. I also notice when an activation share charge is attached to a
> share
> > > > account. When the share account is created there is a entry created
> in
> > > the
> > > > "m_share_account_charge_paid_by" even though the charge is not
> paid.
> > In
> > > > other parts of the system i.e. loans or savings this entry is only
> > made
> > > > when the charge is paid for or for savings this is made when the
> > savings
> > > > account is active.
> > > >
> > > > What is the reason for the prior bookings before the share account is
> > > > active as this is very confusing.
> > > > Can anybody explain why this is done so.
> > > >
> > > > kind regards
> > > > Andrew
> > > >
> > >
> >
>
Re: system behaviour of share account
Posted by Sander van der Heyden <sa...@musonisystem.com>.
Hi Nazeer, Santosh,
When it comes to the charges bookings, we've seen that it is only booked
upon activation. That however creates a situation where your charges on
share accounts are not equal to the balance in your GL accounts which is
not only confusing to customers, but also technically incorrect. I would
therefore recommend to also only add the charge at time of activation, same
way it is done for savings accounts and other deposit products. This way
the system behaves consistently across products and it becomes easier to
document and explain to endusers.
S
Sander van der Heyden
CTO Musoni Services
Mobile (NL): +31 (0)6 14239505
Skype: s.vdheyden
Website: musonisystem.com
Follow us on Twitter! <https://twitter.com/musonimfi>
Postal address: Hillegomstraat 12-14, office 0.09, 1058 LS, Amsterdam,
The Netherlands
On 12 December 2017 at 12:27, Nazeer Shaik <
nazeer.shaik@confluxtechnologies.com> wrote:
> Hi Santosh,
>
> As discussed it is not adding duplicate journal entries. Once account is
> created, it is adding the journal entries for Share Reference, Share
> Suspense Control, Income from fees (if purchase charge is added).
> Once account is approved, Suspense amount will be moved to Share Equity. So
> we are adding new journal entries.
> Once account is activated, the activation charge journal entries are added.
>
> Please verify all possible scenarios provide detailed explanation to
> Andrew. If any issue is there, please update in the already created jira
> issue.
>
> Regards,
> Nazeer
>
> On Tue, Dec 12, 2017 at 10:02 AM, Santosh Math <
> santosh@confluxtechnologies.com> wrote:
>
> > Hi Andreew,
> >
> > This issue exists and raised here:
> >
> > https://issues.apache.org/jira/browse/FINERACT-574
> >
> > Let me know if I am missing something.
> >
> > Thanks
> > Santosh
> > On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu <
> > andrewdzakpasu@musonisystem.com> wrote:
> >
> > > Hi
> > > I have currently been playing around with creating of share
> > account. I
> > > have notice a behaviour which is not consistent with other parts of the
> > > system in regards to bookings of journals.
> > > Is there any reason why bookings are made prior to a share account been
> > > active ?.
> > > An Example is
> > >
> > > 1. When creating a share account with a share purchase charge of 2
> > dollars
> > > and number of shares as 10. After creating the share account you will
> > > notice that bookings have already been made in the journals entry. Even
> > > though the share account is not active yet
> > >
> > > 2. When you approve the share account above. You will again notice
> > bookings
> > > in the journal entry are made. Even though the share account is not
> > active
> > > yet.
> > >
> > > 3. I also notice when an activation share charge is attached to a share
> > > account. When the share account is created there is a entry created in
> > the
> > > "m_share_account_charge_paid_by" even though the charge is not paid.
> In
> > > other parts of the system i.e. loans or savings this entry is only
> made
> > > when the charge is paid for or for savings this is made when the
> savings
> > > account is active.
> > >
> > > What is the reason for the prior bookings before the share account is
> > > active as this is very confusing.
> > > Can anybody explain why this is done so.
> > >
> > > kind regards
> > > Andrew
> > >
> >
>
Re: system behaviour of share account
Posted by Nazeer Shaik <na...@confluxtechnologies.com>.
Hi Santosh,
As discussed it is not adding duplicate journal entries. Once account is
created, it is adding the journal entries for Share Reference, Share
Suspense Control, Income from fees (if purchase charge is added).
Once account is approved, Suspense amount will be moved to Share Equity. So
we are adding new journal entries.
Once account is activated, the activation charge journal entries are added.
Please verify all possible scenarios provide detailed explanation to
Andrew. If any issue is there, please update in the already created jira
issue.
Regards,
Nazeer
On Tue, Dec 12, 2017 at 10:02 AM, Santosh Math <
santosh@confluxtechnologies.com> wrote:
> Hi Andreew,
>
> This issue exists and raised here:
>
> https://issues.apache.org/jira/browse/FINERACT-574
>
> Let me know if I am missing something.
>
> Thanks
> Santosh
> On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu <
> andrewdzakpasu@musonisystem.com> wrote:
>
> > Hi
> > I have currently been playing around with creating of share
> account. I
> > have notice a behaviour which is not consistent with other parts of the
> > system in regards to bookings of journals.
> > Is there any reason why bookings are made prior to a share account been
> > active ?.
> > An Example is
> >
> > 1. When creating a share account with a share purchase charge of 2
> dollars
> > and number of shares as 10. After creating the share account you will
> > notice that bookings have already been made in the journals entry. Even
> > though the share account is not active yet
> >
> > 2. When you approve the share account above. You will again notice
> bookings
> > in the journal entry are made. Even though the share account is not
> active
> > yet.
> >
> > 3. I also notice when an activation share charge is attached to a share
> > account. When the share account is created there is a entry created in
> the
> > "m_share_account_charge_paid_by" even though the charge is not paid. In
> > other parts of the system i.e. loans or savings this entry is only made
> > when the charge is paid for or for savings this is made when the savings
> > account is active.
> >
> > What is the reason for the prior bookings before the share account is
> > active as this is very confusing.
> > Can anybody explain why this is done so.
> >
> > kind regards
> > Andrew
> >
>
Re: system behaviour of share account
Posted by Santosh Math <sa...@confluxtechnologies.com>.
Hi Andreew,
This issue exists and raised here:
https://issues.apache.org/jira/browse/FINERACT-574
Let me know if I am missing something.
Thanks
Santosh
On Mon, Dec 11, 2017 at 9:41 PM, Andrew Dzakpasu <
andrewdzakpasu@musonisystem.com> wrote:
> Hi
> I have currently been playing around with creating of share account. I
> have notice a behaviour which is not consistent with other parts of the
> system in regards to bookings of journals.
> Is there any reason why bookings are made prior to a share account been
> active ?.
> An Example is
>
> 1. When creating a share account with a share purchase charge of 2 dollars
> and number of shares as 10. After creating the share account you will
> notice that bookings have already been made in the journals entry. Even
> though the share account is not active yet
>
> 2. When you approve the share account above. You will again notice bookings
> in the journal entry are made. Even though the share account is not active
> yet.
>
> 3. I also notice when an activation share charge is attached to a share
> account. When the share account is created there is a entry created in the
> "m_share_account_charge_paid_by" even though the charge is not paid. In
> other parts of the system i.e. loans or savings this entry is only made
> when the charge is paid for or for savings this is made when the savings
> account is active.
>
> What is the reason for the prior bookings before the share account is
> active as this is very confusing.
> Can anybody explain why this is done so.
>
> kind regards
> Andrew
>