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From Ed Cable <edca...@mifos.org>
Subject Re: Loan Fees Bug
Date Thu, 05 May 2016 19:30:01 GMT
Adi,

Have you had a chance to look into this at all yet? I realize it probably
will require some time to delve into it and explore what solutions are
needed to better support these charges

Ed

On Thu, May 5, 2016 at 12:15 PM, Zayyad A. Said <
zayyad@intrasofttechnologies.com> wrote:

> Hi Devs,
>
>
>
> Anyone who was able to look into this?
>
>
> Kindly advise way forward.
>
>
>
> Regards;
>
>
>
>
>
> *********
>
> *Zayyad A. Said | Chairman & C.E.O*
>
>
>
> Cell No.: +254 716 615274 | Skype: *zsaid2011*
>
> Email: zayyad@intrasofttechnologies.com
>
>
>
> [image: Email banner]
>
>
>
> *From:* Zayyad A. Said [mailto:zayyad@intrasofttechnologies.com]
> *Sent:* 04 May 2016 19:15
> *To:* 'Sander van der Heyden'; 'dev@fineract.incubator.apache.org'
> *Cc:* 'Sangamesh N'
> *Subject:* RE: Loan Fees Bug
>
>
>
> Sander,
>
>
>
> If this is how it’s been functioning for the last two years, then I must
> say we have all been in darkness for quite some time. The system should not
> function like this.
>
>
>
> If I charge a client in June for example, that income needs to be reported
> in June which is the month  the fee was charged and not before. It beats
> the logic to report that income in the month when there was last payment
> (say April) in the account.
>
>
>
> << If the fee is applied after the payment and no backdates are made, this
> won't cause any weird bookings, but as soon as you start backdating or
> adjusting older payments the reprocessing of the schedule will re-allocate
> the payments like this.>>
>
> Please note in the sample I gave in my email, the charge was actually
> applied on 1st May 2016 and paid same day after the payment of 15th April
> 2016 had already been made.
>
>
>
> I strongly recommend someone to carefully analyze this situation and
> propose right solution otherwise the system would not be giving right
> financial reports which are key to the Financial Institutions.
>
>
>
> Regards;
>
>
>
>
>
> *********
>
> *Zayyad A. Said | Chairman & C.E.O*
>
>
>
> Cell No.: +254 716 615274 | Skype: *zsaid2011*
>
> Email: zayyad@intrasofttechnologies.com
>
>
>
> [image: Email banner]
>
>
>
> *From:* Sander van der Heyden [mailto:sandervanderheyden@musoni.eu
> <sandervanderheyden@musoni.eu>]
> *Sent:* 03 May 2016 22:55
> *To:* dev@fineract.incubator.apache.org
> *Cc:* Zayyad A. Said; Sangamesh N
> *Subject:* Re: Loan Fees Bug
>
>
>
> Hi Zayyad,
>
>
>
> This is not a bug, but actually existing functionality that has worked
> like this at least for the last year or so. We've been educating our users
> on this for  quite some time.
>
>
>
> The logic behind this is very much tied to the structure in the system.
> Because loan payments and charges are all linked to schedule instalments,
> any loan fee that is set up as "Specified due date" is actually tied to the
> loan instalment it falls into, and therefore (depending on the payment
> order picked), it will be paid off as soon as the first payment 'hits' that
> instalment, which in your case is that payment from earlier on.
>
>
>
> If the fee is applied after the payment and no backdates are made, this
> won't cause any weird bookings, but as soon as you start backdating or
> adjusting older payments the reprocessing of the schedule will re-allocate
> the payments like this.
>
>
>
> I completely understand that this is seen as 'undesirable' behaviour, but
> this is also quite a core bit of code around the charges, that would need
> to be redesigned to change this. If this is therefore core-team development
> effort, I propose to treat this as a known error / improvement and not rush
> into revamping part of the charges code without also considering other
> improvements (or creating bugs while solving others). But keen to hear
> other thoughts on this from the other devs?
>
>
>
> Thanks,
>
> Sander
>
>
>
> 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 Tue, May 3, 2016 at 6:50 PM, Ed Cable <edcable@mifos.org> wrote:
>
> Zayyad,
>
>
>
> Since this is potentially a bug in the core Fineract platform, i'm
> directly the conversation to that mailing list - we'll continue the
> conversation there.
>
>
>
> On Tue, May 3, 2016 at 9:43 AM, Zayyad A. Said <
> zayyad@intrasofttechnologies.com> wrote:
>
> Hi Devs,
>
>
>
> We seem to be having a bug on fees applied after a loan payment is done.
> The fee income seem to be reported in the previous schedule when the last
> payment was done.
>
>
>
> To reproduce this check out this account
> https://demo3.openmf.org/#/viewloanaccount/42 (mifos/password) for client
> Allen E.
>
>
>
> Two different charges were applied on 1st May 2016 i.e. Loan Extension of
> 600/= and Penalty of 1000/= and were also paid same day (You can verify
> from the charges tab).
>
>
>
> If you view them on Transactions tab, these fees shows to have been
> collected on 15th April 2016 which was the date  partial payment was done
> to this loan account.
>
>
>
> This poses a very serious challenge in proper accounting of income as this
> income is now reported in a different month and not the actual month when
> it was charged and paid.
>
>
>
> Please look into this urgently and would appreciate if it can be a given a
> top priority to have it fixed.
>
>
>
> Your feedback will be appreciated.
>
>
>
> Regards;
>
>
>
>
>
> *********
>
> *Zayyad A. Said | Chairman & C.E.O*
>
>
>
> Cell No.: +254 716 615274 | Skype: *zsaid2011*
>
> Email: zayyad@intrasofttechnologies.com
>
>
>
>
>
>
>
>
>
>
>
> --
>
> *Ed Cable*
>
> Director of Community Programs, Mifos Initiative
>
> edcable@mifos.org | Skype: edcable | Mobile: +1.484.477.8649
>
>
>
> *Collectively Creating a World of 3 Billion Maries | *http://mifos.org
> <http://facebook.com/mifos>  <http://www.twitter.com/mifos>
>
>
>
>
>



-- 
*Ed Cable*
Director of Community Programs, Mifos Initiative
edcable@mifos.org | Skype: edcable | Mobile: +1.484.477.8649

*Collectively Creating a World of 3 Billion Maries | *http://mifos.org
<http://facebook.com/mifos>  <http://www.twitter.com/mifos>

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