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  1. Apache Fineract
  2. FINERACT-13

Multi-tranche Loan repayment on 2nd tranche incorrect

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    Details

    • Type: Bug
    • Status: Open
    • Priority: Major
    • Resolution: Unresolved
    • Affects Version/s: None
    • Fix Version/s: 1.5.0
    • Component/s: Loan
    • Labels:

      Description

      https://mifosforge.jira.com/browse/MIFOSX-2398 - See for attachments

      1. Create a loan product with following data sets,
      Principal: 10,000 ( Min: , Max : )
      Number of Repayments: 12 ( Min: , Max)
      Repay Every: 1 Months
      Nominal Interest Rate: 1 ( Min: , Max) Per month
      Amortization Equal installments
      Interest Method Declining Balance
      Interest Calculation Period Daily
      Repayment Strategy Penalties, Fees, Interest, Principal order
      Days in year Actual
      Days in month Actual
      Principal Threshold (%) for Last Instalment 0
      Recalculate Interest Yes
      Advance payments adjustment type Reduce number of installments
      Pre-closure interest calculation rule Calculate till pre closure date
      Interest recalculation compounding on None
      Frequency for recalculate Outstanding Principal Daily
      Frequency Interval for recalculation 1
      Frequency Date for recalculation 01-Sep-15
      Enable Multiple Disbursals TRUE
      Maximum Tranche count 2
      Maximum allowed outstanding balance 10000
      2. Create specified due date charge 1% of amount and attache to the above loan product,
      3. Submit new loan application for a client on 01 September 2015 with first tranche of 5000 on same date and second tranche on 01 November 2015 and amount 5000. Add specified due date charge date as 15 September 2015.
      4. Make repayment on 01 October 2015 in which charge applied on 15 September 2015 got collected and amount as 50 (1% of disbursed amount).
      5. Disburse 2nd tranche as 5000 on 01 November 2015.
      > In the repayment schedule 50 is displaying as balance in 01 October 2015 repayment.
      > Application Should not allowed to modify or apply charge for the repayment which is already paid

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              • Assignee:
                Unassigned
                Reporter:
                dharp@mifos.org Dayna Harp
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                • Created:
                  Updated:

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