[Mifos-users] Issue with 'Installment multiples of' field in the loan product

[sub sn]

Hi,

I created the loan product with the Installment in multiples of = 1 (In the application it is not allowing to set zero or any decimal)

Because of that after the loan disbursement the amount is rounding off.

For my first installment it is displaying 

Principal due = 788

Interest = 100

Outstanding 888

Expected:

Principal due = 788.49

Interest = 100

Outstanding 888.49

#	Days	Date	Principal Due	Balance of Loan	Interest	Due
		28-Apr-20		10,000		0
1	30	28-May-20	788.49	9,211.51	100.00	888.49
2	31	28-Jun-20	796.37	8,415.14	92.12	888.49
3	30	28-Jul-20	804.34	7,610.80	84.15	888.49
4	31	28-Aug-20	812.38	6,798.42	76.11	888.49
5	31	28-Sep-20	820.50	5,977.92	67.98	888.49
6	30	28-Oct-20	828.71	5,149.21	59.78	888.49
7	31	28-Nov-20	837.00	4,312.21	51.49	888.49
8	30	28-Dec-20	845.37	3,466.85	43.12	888.49
9	31	28-Jan-21	853.82	2,613.03	34.67	888.49
10	31	28-Feb-21	862.36	1,750.67	26.13	888.49
11	28	28-Mar-21	870.98	879.69	17.51	888.49
12	31	28-Apr-21	879.69	0.00	8.80	888.49

How to achieve the expected values

Regards,

Subbu

 

[Luis Alberto Alegría de los Santos]

Hi Subbu

You must do 2 things:

• First, you must activate the "Allow fixing of the installment amount" product configuration. This action let you put a fixed installment amount and rounding is off.
  

• Then, when you are creating a new loan, on TERMS section, look for "Installment amount" box, and capture 888.49.

Best regards

_______________________________________________
Mifos-users mailing list
Mifos...@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/mifos-users

--

LSC. Luis Alegría

INNOVARAPP

2225548732

La información contenida en este correo electrónico y anexos es confidencial. Ésta dirigida únicamente para el uso del individuo o entidad a la que fue dirigida y puede contener información propietaria que no es del dominio público. Si has recibido este correo por error o no eres el destinatario, por favor notificar al remitente de inmediato y borra este mensaje de la computadora o dispositivo. Cualquier uso, distribución o reproducción de este correo que no sea por el destinatario de intención queda prohibido.

[sub sn]

Hi Luis Alberto Alegría de los Santos,

Thanks for your response,

You explained manual process to fix the installment amount. But I need system generated installment amount with the above mentioned decimal values. 

Regards, 

Subbu

[Henry Ogbu]