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From "Santosh Math (JIRA)" <j...@apache.org>
Subject [jira] [Commented] (FINERACT-526) Add Job Scheduler for Time Deposit Maturity Check/Closure
Date Tue, 19 Sep 2017 06:47:00 GMT

    [ https://issues.apache.org/jira/browse/FINERACT-526?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16171190#comment-16171190
] 

Santosh Math commented on FINERACT-526:
---------------------------------------

[~Ippez] , What  if client wants to 'Reinvest' including interest?

> Add Job Scheduler for Time Deposit Maturity Check/Closure
> ---------------------------------------------------------
>
>                 Key: FINERACT-526
>                 URL: https://issues.apache.org/jira/browse/FINERACT-526
>             Project: Apache Fineract
>          Issue Type: Improvement
>            Reporter: Ippez Roberts
>            Assignee: Markus Geiss
>
> Currently when fixed deposit matures, you have to check it manually and close or reinvest
which most times can be forgotten and we are most times reminded when a client comes for his
interest. 
> We need to automatic this process:-
> *Changes*
> *If it's normal TD closure without reinvesting then;*
> * Post Interest to TD
> * Transfer the Fixed Amount to linked Saving Account
> * Transfer Interest to linked Saving Account
> * Post Withholding Tax or other taxes associated with this TD
> * Close the account - Note can be predefined as 'Auto Close & Transfer'
> *If Reinvest *
> * Post Interest to TD
> * Transfer the Fixed Amount to linked Saving Account
> * Transfer Interest to linked Saving Account
> * Post Withholding Tax or other taxes associated with this TD
> *  Close this account - Note can be predefined as 'Auto Close & Reinvest'
> * Create new TD Account and auto-link the above savings account {previous linked savings
account} to this TD . Deposit amount should be same as in the previous TD account just closed.
> * Auto Activate the account - Fixed Amount should be auto transferred from the linked
savings account to this newly created and activated TD Account.
> All in all, account settings for the previous TD should be copied over and applied to
this new TD i.e same amount, duration, interest rate etc



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