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  1. Apache Fineract
  2. FINERACT-78

Specified due date percentage charge calculation uses loan principal amount instead of installment principal amount

Details

    • Bug
    • Status: Reopened
    • Major
    • Resolution: Unresolved
    • None
    • None
    • None

    Description

      Specified due date percentage charge calculation uses loan principal amount instead of installment principal amount.

      Attachments

        1. Sp. Charge 1.png
          184 kB
          subramanyasn
        2. Sp. Charge 2.png
          175 kB
          subramanyasn
        3. Sp. Charge 3.png
          181 kB
          subramanyasn
        4. Sp. Charge 4.png
          190 kB
          subramanyasn

        Issue Links

          Activity

            subramanya@confluxtechnologies.com subramanyasn added a comment -

            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.

            subramanya@confluxtechnologies.com subramanyasn added a comment - 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.
            santoshmath Santosh Math added a comment -

            Tested it on 16.12.01.RELEASE. The issue still exists.

            santoshmath Santosh Math added a comment - Tested it on 16.12.01.RELEASE. The issue still exists.
            githubbot ASF GitHub Bot added a comment -

            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


            githubbot ASF GitHub Bot added a comment - 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
            githubbot ASF GitHub Bot added a comment -

            Github user asfgit closed the pull request at:

            https://github.com/apache/incubator-fineract/pull/324

            githubbot ASF GitHub Bot added a comment - Github user asfgit closed the pull request at: https://github.com/apache/incubator-fineract/pull/324
            nazeer1100126 Nazeer Shaik added a comment -
            nazeer1100126 Nazeer Shaik added a comment - With PR https://github.com/apache/incubator-fineract/pull/324 , this issue is resolved.
            santoshmath Santosh Math added a comment -

            HI nazeer1100126, this issue is not completely fixed. Specify due date charge considering installment principal amount only for first tranche and for 2nd tranche , it is considering whole principal amount in stead of only 2nd tranche amount. I think this issue must be reopened.

            santoshmath Santosh Math added a comment - HI nazeer1100126 , this issue is not completely fixed. Specify due date charge considering installment principal amount only for first tranche and for 2nd tranche , it is considering whole principal amount in stead of only 2nd tranche amount. I think this issue must be reopened.
            santoshmath Santosh Math added a comment -

            Lowering the priority as It is specific client requirement rather than general requirement. Yet, there is a work around : Tranche Disbursement charge can be used.

            santoshmath Santosh Math added a comment - Lowering the priority as It is specific client requirement rather than general requirement. Yet, there is a work around : Tranche Disbursement charge can be used.

            Dear current assignee of this issue, related to FINERACT-1000 and to clean up our shiny brand new JIRA Dashboard on https://issues.apache.org/jira/secure/Dashboard.jspa?selectPageId=12335824 I'm doing a little bit of "release management" today, and because you have no updated in a very long time, have taken the liberty to assume that you have lost interest to contribute to this issue (the Fineract project is sad to have lost you!), and am therefore un-assigning it from you (in a "bulk" update, this message is not personal but is being commented in tens of issues today).

            Un-assigning it from you makes it clear to other contributors that this issue would be available for them to work on, in the (rather unlikely, yes) case that they could be so inclined. Should this be a misunderstanding on my part, I apologize, ask you to clarify your intentions for this issue by replying by commenting back here - and do re-assigning it back to you!

            vorburger Michael Vorburger added a comment - Dear current assignee of this issue, related to FINERACT-1000 and to clean up our shiny brand new JIRA Dashboard on https://issues.apache.org/jira/secure/Dashboard.jspa?selectPageId=12335824 I'm doing a little bit of "release management" today, and because you have no updated in a very long time, have taken the liberty to assume that you have lost interest to contribute to this issue (the Fineract project is sad to have lost you!), and am therefore un-assigning it from you (in a "bulk" update, this message is not personal but is being commented in tens of issues today). Un-assigning it from you makes it clear to other contributors that this issue would be available for them to work on, in the (rather unlikely, yes) case that they could be so inclined. Should this be a misunderstanding on my part, I apologize, ask you to clarify your intentions for this issue by replying by commenting back here - and do re-assigning it back to you!

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              emmanuelnnaa@musoni.eu Emmanuel Nnaa
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                Created:
                Updated: