Major Description
A charge time type element has to be developed in Fineract. This event is similar to other events of a banking cycle such as Withdrawal, disbursement, account activation(for eg savings activation) The time type is association with Fund Transfer action.
The event is associated with a following specific scenario to Merchant (M) and his Merchant Account (MA). Merchants can hold multiple account by Fineract definition I.E MA1, MA2
- Whenever a Merchant Account(MA)receives Fund via Transfer from other existing customer accounts in Fineract.
- Not applicable if MA receives fund via Deposit.
- Not applicable if MA receives fund via a reversal of a txn from its own MA account.
- Not applicable if MA1 receives fund from MA2 i.e from one account of same Merchant to another. The Non-applicability is also extended if MA receives fund from other merchants for eg- Merchant 1 receives from Merchant 2 via an inter account txn such as Merchant1A/C -Merchant2A/C
This feature can be called as Fund transfer time type. When a Charge is configured with this time type, the Said charge will Calculate and post this charge to Merchant Account and will obviously show in Charges.