GitHub user nazeer1100126 opened a pull request:
https://github.com/apache/incubator-fineract/pull/324
FINERACT-78 : Specified due date percentage charge calculation uses loan principal amount instead of installment principal amount
You can merge this pull request into a Git repository by running:
$ git pull https://github.com/nazeer1100126/incubator-fineract FINERACT-78
Alternatively you can review and apply these changes as the patch at:
https://github.com/apache/incubator-fineract/pull/324.patch
To close this pull request, make a commit to your master/trunk branch
with (at least) the following in the commit message:
This closes #324
commit 8baf9f4cd0de899ae015f1994e17b1b0e8b39641
Author: nazeer1100126 <nazeer.shaik@confluxtechnologies.com>
Date: 2017-03-27T12:04:20Z
FINERACT-78 : Specified due date percentage charge calculation uses loan principal amount instead of installment principal amount
Steps to reproduce this issue:
1. Create a loan product with following datasets,
Repayment Strategy:Overdue/Due Fee/Int,Principal
Repayments:12 every 1 Months on
Amortization:Equal installments
Interest:12 per annum (1% Per month) - Declining Balance
Interest Calculation Period:Daily
Interest Type:Declining Balance
Recalculate Interest:Yes
Days in year:Actual
Days in month:Actual
Interest recalculation compounding on:None
Advance payments adjustment type:Reduce number of installments
Frequency for recalculate Outstanding Principal:Every -1 days.
2. Create a specified due date charge % amount as 1%.
3. Create a client and submit new loan application for a client on 01 January 2016, first tranche of 5000 on same date, 2nd tranche of 5000 on 01 March 2016.
add above charges on 15 Jan 2016, and on 15 March 2016.
4. After submitting the loan application the click on charges there it is displaying both charges as 100.
5. Approve and disburse the 2nd tranche on 01 March 2016.
> Both Charges are displaying as 100 in repayment schedule.
but in charges, for 15 January 2016 charge is 50. and for 15 March 2016 the charge is 100. In summary page also it is displaying as 200.