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  1. Apache Fineract
  2. FINERACT-789

Wrong Journal Entry Posting on Disburse to savings.

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    Details

    • Type: Bug
    • Status: Open
    • Priority: Critical
    • Resolution: Unresolved
    • Affects Version/s: 1.3.1
    • Fix Version/s: 1.5.0
    • Component/s: Loan
    • Labels:
    • Environment:
      All
    • Flags:
      Important

      Description

      When a loan with a fee charged at disbursement is disbursed to savings the the journal entries happen as follows:  Eg. Loan of 50,000 with 1% processing fees charged at disbursement.

      1. Loan Portfolio is debited by by 50,000. This is okay.
      2. Liability Transfer is credited by 50,000. This is okay.
      3. Fee income is credited with 500. This is okay.
      4. Loan fund source is debit with 500. This is the error, Liability Transfer should be debited.
      5. Savings Portfolio is credited with 49,500. This is okay.
      6. Liability transfer is debited with 49,500. this is okay.

      As you can see the end result is that liability transfer is left with a balance with in fact it is a control account.

       

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            • Assignee:
              Unassigned
              Reporter:
              pnyota Nyota Macharia
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              Dates

              • Created:
                Updated: