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  1. Apache Fineract
  2. FINERACT-312

For Loan with interest recalculation periodic accrual with respect to current date is not getting modified after repayment in Transaction page

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    Details

    • Type: Bug
    • Status: Closed
    • Priority: Major
    • Resolution: Fixed
    • Affects Version/s: None
    • Fix Version/s: 1.0.0
    • Component/s: Loan
    • Labels:

      Description

      Reported by Subramanya at https://mifosforge.jira.com/browse/MIFOSX-2119

      Original Description:
      1. Create a loan product with following datasets:
      Principal: 10000, no. of Installments: 12, repaid every 1 month, Nominal interest rate: 1%pm,Amortization: Equal installments, Interest Method: Declining Balance, Interest Calculation Period: Same as repayment period,Repayment Strategy:RBI (India),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: Same as repayment period, with accounting enabled for periodic accrual.
      2. Submit new loan application for a client on 01 March 2015 approve and disburse on same date.
      3. Click on Admin -> system -> Scheduler job - run scheduler job "Add Periodic Accrual Transactions".
      4. Navigate back to Transactions page and verify the accrued interest as on current date.
      5. Make first repayment on exact due date then verify the transaction page the accrued interest as on current date is not modified.
      > The accrued interest as on current date is not getting modified even after multiple repayments.
      Please refer the screen shot attached.

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          Santosh Math
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          Santosh Math

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              • Assignee:
                santoshmath Santosh Math
                Reporter:
                santoshmath Santosh Math
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                  Updated:
                  Resolved: