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From "Adi Raju" <adi.r...@confluxtechnologies.com>
Subject RE: Penalties on loans
Date Wed, 28 Dec 2016 06:58:35 GMT
Hi Lionel,

 

I couldn’t understand your requirement on point 1. Please elaborate more.

 

On point 2: There are global configuration that allow for wait and grace periods before penalties
are applied. That is the reason you are seeing penalties being applied only until few days
prior to the current date. The last instalment is to provide a details for the overdue of
the last instalment. Though the penalties are being applied, the instalment summary is not
properly shown, which is a bug. Can you please raise an JIRA issue on apache fineract?

 

Regards,

Adi Raju

 

Principal Architect,  <http://www.confluxtechnologies.com/> Conflux Technologies Pvt
Ltd

Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043
INDIA

 

 

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From: Lionel Raymundi - Poincenot [mailto:lionel@poincenot.com] 
Sent: Tuesday, December 27, 2016 11:12 PM
To: user@fineract.incubator.apache.org
Subject: Re: Penalties on loans

 

Sure, here is the case:

 

https://demo.openmf.org/#/viewloanaccount/399

 

The original loan had 8 installments with final maturity on 02 December 2016. 

A new installment was created with duedate 23 December 2016 after I run the apply penalties
job (not sure why that particular date)

 

Thanks again!

 

2016-12-27 12:37 GMT-03:00 Sampath Kumar G <sampath@confluxtechnologies.com>:

Hi Lionel,

 

Can you please reproduce the same in https://demo.openmf.org/#/ and share the URL of loan
or loan account number.

 

On Dec 27, 2016 6:05 PM, "Lionel Raymundi - Poincenot" <lionel@poincenot.com> wrote:

Hello list,

 

I configured a penalty for loans, which consist of a percentage of the interest of the installment,
applied with daily recurrency. 

Imágenes integradas 2

I've noticed two things, which I found not clear and maybe you can help me

 

1) The penalties are applied to the corresponding installment up to one day after the duedate
of the installement. I mean, if i have an installment with duedate january 1st, penalties
will be applied to it until january 2nd. If the client does not repay the next day neither,
Penalties corresponding to the 3rd will be applied to the next installment. Is this configurable?
Can I set that all penalties are applied to the first installment which is not paid?

 

2) With the penalties configured as I did (percentage of interest, daily), the calculation
is not working after the last installment duedate. It seems that a new installment is created
after the last one, on which the penalties should be calculated, but I cant make it work.
Below, I attach an image where you can see what I mean. All penalties are correctly calculated
until December 21th. After that there is no more penalties applied... how can I fix that?

 

Imágenes integradas 1

 

Thanks in advance,

 

Lionel

 


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