Details
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Improvement
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Status: Open
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Major
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Resolution: Unresolved
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Description
Background and details:
As a User, I expect the system to calculate and post an interest refund when a merchant refund posts so that we are only charging the customers interest on the net purchase amount. Will require build out of process to calculate the amount of interest to refund. Ensure payment allocation rules allow for unique payment allocation for this transaction type.
As a merchant refund is posted, there should be a system calculated credit for interest charged to the loan based on maturity date. This would be posted to the loan as a credit adjustment type “Interest Refund”.
Acceptance criteria
- Add new transaction type
- Loan product template retrieve the supported options for configuring when Interest refund txn to be created
- Interest refund txn triggering configuration can be stored on loan product
- We should be able to define allocation rules for “Interest Refund” transaction
UC scenarios attached
Attachments
Attachments
Issue Links
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