[Mifos-users] Last Installment Repayment Not Working in case of delayed payment

[Thomas Varghese]

Hello,

 

We are facing an issue with the last installment payment when the last payment is received a few days late.

 

The final installment is received on 22^nd May instead of 20^th May, but the system doesn’t allow me apply the repayment on 22^nd May but only for 20^th May.

 

My repayment schedule is as below:

#	Days	Date	Paid Date		Principal Due	Balance of Loan	Interest	Fees	Penalties	Due	Paid	In Advance	Late	Outstanding
		21 February 2017				100,000		2,300		2,300	2,300
1	28	21 March 2017	20 March 2017		32,600	67,400	2,233	0	0	34,833	34,833	34,833	0	0
2	31	21 April 2017	21 April 2017		33,328	34,072	1,505	0	0	34,833	34,833	0	0	0
3	29	20 May 2017			34,072	0	736	0	0	34,808	0	0	0	34,808
	88	Total			100,000		4,474	2,300	0	106,774	71,966	34,833	0	34,808

 

Account Configuration is as below:

 

payment Strategy	Interest, Principal, Penalties, Fees Order
Repayments	3 every 1 Months on
Amortization	Equal installments
Interest	26.8008 per annum (26.8008%  Per year) - Declining Balance
Grace: On Principal Payment
Grace: On Interest Payment
Grace on Arrears Ageing
Fund Source	KNAB Internal Fund
Interest Free Period
Interest Calculation Period	Daily
Allow Partial Interest Calcualtion with same as repayment	false
Interest Type	Declining Balance
Submitted on	21 February 2017
Approved on	21 February 2017
Disbursed on	21 February 2017
Matures on	20 May 2017
Recalculate Interest	Yes
Days in year	360 Days
Days in month	30 Days
Interest recalculation compounding on	None
Advance payments adjustment type	Reschedule next repayments
Frequency for recalculate Outstanding Principal	Monthly on day 21
Variable Installments Allowed	true
Gap between Installments	(Min:1 Days  , Max:100 Days)

 

 

 

 

Kind Regards, 

Thomas Varghese 

thom...@knabfinance.com | www.knabfinance.com | www.linkedin.com/in/thomasbglr

  BizSmart Loan supports SMEs with the right finance

 

This message contains information that may be privileged or confidential and is the property of KNAB finance. It is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

[Thomas Varghese]

Attaching the screen shots

 

A)      repayment schedule:

 

 

B)      Applying last repayment screen & the error screen on browser console

 

 

C)      Loan Account Information

 

 

Regards,

Thomas

[Ed Cable]

Thomas,

I'm adding Sampath to this thread and cc'ing the Fineract User's list as well.

Ed

------------------------------------------------------------------------------
Check out the vibrant tech community on one of the world's most
engaging tech sites, Slashdot.org! http://sdm.link/slashdot
_______________________________________________
Mifos-users mailing list
Mifos...@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/mifos-users

--

Ed Cable

President/CEO, Mifos Initiative

edc...@mifos.org | Skype: edcable | Mobile: +1.484.477.8649

Collectively Creating a World of 3 Billion Maries | http://mifos.org  

[Santosh Math]

Thomas,  

Please share the loan product configurations (may be screenshot which includes all details) 

Greets

Santosh

[thom...@knabfinance.com]

Santosh,

Please find attached the loan product configurations.

I think the defect is because is caused by a particular loan product configuration (probably recalculate interest) which doesnt allow the payment to be entered post the final emi date. It doesnt allow even charges to be entered after the last emi date. When i apply a charge after the last emi date, it gives me error "Specified due date is outside of allowed range of dates which is after [2017,2,21] and up to and including [2017,5,20]."

Regards,

Thomas

Regards,

Thomas

[Stebbins Tugara]

Thomas,

Could you also check whether the Start Date and End Date parameters were filled in the your loan product configuration. I havent done some tests but i think these fields confine usage of a particular product to specific timelines.

Regard

Stebbins

[Thomas Varghese]

Stebbins,

 

I had the start date of the loan product, and not configured the end date of the loan product.

 

Post your inputs, I have changed the loan product and configured an end date as well to two years from now; but the issue still remains.

 

Kind Regards, 

Thomas Varghese 

thom...@knabfinance.com | www.knabfinance.com | www.linkedin.com/in/thomasbglr

  BizSmart Loan supports SMEs with the right finance

 

--
You received this message because you are subscribed to a topic in the Google Groups "Mifos Users" group.
To unsubscribe from this topic, visit https://groups.google.com/d/topic/mifosusers/ZHv93i0frqQ/unsubscribe.
To unsubscribe from this group and all its topics, send an email to mifosusers+...@googlegroups.com.
To post to this group, send email to mifos...@googlegroups.com.
Visit this group at https://groups.google.com/group/mifosusers.
For more options, visit https://groups.google.com/d/optout.

[thom...@knabfinance.com]

Stebbins / Santosh,

Any suggestions on what i should do?

Regards,

Thomas

To unsubscribe from this group and all its topics, send an email to mifosusers+unsubscribe@googlegroups.com.

To post to this group, send email to mifos...@googlegroups.com.
Visit this group at https://groups.google.com/group/mifosusers.
For more options, visit https://groups.google.com/d/optout.

This message contains information that may be privileged or confidential and is the property of KNAB finance. It is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

[Santosh Math]

Hi Thomas,

Sorry for delayed reply. I am trying to create same scenario on demo server but some values are getting differed.

https://demo.openmf.org/#/viewloanaccount/1093

Would you make same scenarios as yours by using 'Modify Application' or changing any loan product configuration Which I might  missing?

Thanks

Santosh

[Thomas Varghese]

Hi Santosh,

 

Thanks for your help.

 

I tried to recreate the scenario on the demo server, but on the demo server it works fine. Had created a loan product knabtest for this testing.

 

My version is Release Version: 16.09.01.RELEASE | Mifos X Release Date: 29/Sep/2016 while your demo version is Release Version: 16.12.01.RELEASE | Mifos X Release Date: 14/Dec/2016.

Has there been any changes between the two versions which impacts the repayments?

 

I am attaching the server log with this email.

One observation in my test case is that the last EMI date was supposed to be 21^st May. But since 21^st May is a holiday, the system expected the payment a day earlier (20^th May). And I am doing a payment entry for 22^nd May.

 

Kind Regards, 

Thomas

 

From: mifos...@googlegroups.com [mailto:mifos...@googlegroups.com] On Behalf Of Santosh Math
Sent: Monday, May 29, 2017 11:57 AM
To: A good place to start for users or folks new to Mifos. <mifos...@lists.sourceforge.net>
Cc: Mifos Users <mifos...@googlegroups.com>
Subject: Re: [Mifos-users] Last Installment Repayment Not Working in case of delayed payment

 

Hi Thomas,

Stebbins / Santosh,

 

Thomas

To unsubscribe from this group and all its topics, send an email to mifosusers+...@googlegroups.com.

To post to this group, send email to mifos...@googlegroups.com.
Visit this group at https://groups.google.com/group/mifosusers.
For more options, visit https://groups.google.com/d/optout.

 

This message contains information that may be privileged or confidential and is the property of KNAB finance. It is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

 

This message contains information that may be privileged or confidential and is the property of KNAB finance. It is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

------------------------------------------------------------------------------
Check out the vibrant tech community on one of the world's most
engaging tech sites, Slashdot.org! http://sdm.link/slashdot
_______________________________________________
Mifos-users mailing list
Mifos...@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/mifos-users

 

--

You received this message because you are subscribed to a topic in the Google Groups "Mifos Users" group.
To unsubscribe from this topic, visit https://groups.google.com/d/topic/mifosusers/ZHv93i0frqQ/unsubscribe.

To unsubscribe from this group and all its topics, send an email to mifosusers+...@googlegroups.com.

To post to this group, send email to mifos...@googlegroups.com.
Visit this group at https://groups.google.com/group/mifosusers.
For more options, visit https://groups.google.com/d/optout.

[Santosh Math]

Hi Thomas,

Please upgrade to latest version of Mifos X. There are lot of bug fixes between 16.12.01 and 16.09

.

Santosh

Stebbins / Santosh,

 

Thomas

To unsubscribe from this group and all its topics, send an email to mifosusers+unsubscribe@googlegroups.com.

To post to this group, send email to mifos...@googlegroups.com.
Visit this group at https://groups.google.com/group/mifosusers.
For more options, visit https://groups.google.com/d/optout.

 

This message contains information that may be privileged or confidential and is the property of KNAB finance. It is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

 

This message contains information that may be privileged or confidential and is the property of KNAB finance. It is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

------------------------------------------------------------------------------
Check out the vibrant tech community on one of the world's most
engaging tech sites, Slashdot.org! http://sdm.link/slashdot
_______________________________________________
Mifos-users mailing list
Mifos...@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/mifos-users

--
You received this message because you are subscribed to a topic in the Google Groups "Mifos Users" group.
To unsubscribe from this topic, visit https://groups.google.com/d/topic/mifosusers/ZHv93i0frqQ/unsubscribe.

To unsubscribe from this group and all its topics, send an email to mifosusers+unsubscribe@googlegroups.com.

To post to this group, send email to mifos...@googlegroups.com.
Visit this group at https://groups.google.com/group/mifosusers.
For more options, visit https://groups.google.com/d/optout.

This message contains information that may be privileged or confidential and is the property of KNAB finance. It is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.