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  1. Apache Fineract
  2. FINERACT-493

Repayment method by Post Dated Checks



    • New Feature
    • Status: Resolved
    • Major
    • Resolution: Fixed
    • None
    • 1.6.0
    • Loan


      Repayment by Post Dated Checks
      In Current updated MifosX, there is no convenient features for Post dated checks Repayment.

      Our company normally require Post Dated Checks to the client as repayment method when their loan is approved.
      If the term is 6 month, we asked them to provide 6 pcs Post Dated Checks for repayment.

      So, If it's possible........when we create the loan application for individuals, make one more optional procedures to encode(input) the Post Dated Checks details during Disburse Loan application
      Normally, Check numbers are increased by 1...

      Name of Bank Due Date Account No. Check No. Amount
      Citi Bank 1/1/2017 230016 *100001 1000
      Citi Bank 1/2/2017 230016 *100002 1000
      Citi Bank 1/3/2017 230016 *100003 1000
      Citi Bank 1/4/2017 230016 *100004 1000
      Citi Bank 1/5/2017 230016 *100005 1000
      Citi Bank 1/6/2017 230016 *100006 1000

      So, When we input the Postdated checks details.....

      1. It should automatically generate the rows based on the term(get this data from Loan application)

      • if the term is 6 months, it should generate 6 rows for encoding of Checks Info.

      2. For Check No. field, when we input first check No. , it should automatically generate Check no. increased by 1

      3. This data table is linked with Repayment Schedule.

      When we see the repayment schedule , Check No. must be showed (If that data is encoded)

      4. when we see the collection sheet, those information(like check no, bank name) will automatically appear and can be edited as well...Also, It can be cleared(make payment) in Collection Sheet

      In current MifosX system, we need to encode one by one whenever there is due-payment.
      Collection Sheet -> Add payment detail -> input the Check detail.

      If we have a few post dated checks, it's ok .....But If there are many checks to encode the datails for checks.....this is time consuming works.

      I hope someone work on this matter..

      thank you


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              BLasan Benura Abeywardena
              nsm1226 Justine Nam
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