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From "Santosh Math (JIRA)" <j...@apache.org>
Subject [jira] [Created] (FINERACT-313) For Multiple tranche Loans with Equal Principal Payments after submitting the loan application Principal due is not calculating properly
Date Tue, 20 Dec 2016 04:16:58 GMT
Santosh Math created FINERACT-313:
-------------------------------------

             Summary: For Multiple tranche Loans with Equal Principal Payments after submitting
the loan application Principal due is not calculating properly
                 Key: FINERACT-313
                 URL: https://issues.apache.org/jira/browse/FINERACT-313
             Project: Apache Fineract
          Issue Type: Bug
          Components: Loan
            Reporter: Santosh Math
            Assignee: Markus Geiss


Reported by Subramanya  at https://mifosforge.jira.com/browse/MIFOSX-2130

Original Description:
1. Create a Loan product with following datasets
Repayment Strategy:RBI (India)
Repayments:12 every 1 Months
Amortization:Equal principal payments
Interest:12 per annum (1% Per month):Declining Balance
Interest Calculation Period:Daily
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 number of installments
Frequency for recalculate Outstanding Principal: Every -1 days
Max Tranche Count:2,
2.Submit new loan application for a client on 01 January 2015 with first tranche on same date
and 2nd Tranche on 01 March 2015, each with 5000 amount.
> For 01 February 2015 and 01 March 2015 the principal due should be 416.67 (ie 5000/12).
and From 01 April2015 to 01 January 2016 principal due should be 916.66 (ie 9166.6/10).
But here it is calculating differently as a result for the last installment principal due
is more.



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