Hello. I have a related question. In Loan Product, I'm not able to set up Cash Accounting. How do I create the values that show up in the various dropdown lists for Fund source, Loan portfolio, Income from interest, Income from fees, etc? I have already created a Chart of Accounts with Asset, Liability, Income and Expense accounts.
Thanks in advance. Vinayak On Wed, Apr 15, 2020 at 6:44 AM Vinayak Javaly <vina...@urgent.vc> wrote: > Hi Ed and Bharath. Thank you very much for your detailed explanations. > > Vinayak > > On Wed, Apr 15, 2020 at 2:36 AM Bharath Gowda <bgo...@mifos.org> wrote: > >> Hello Vinayak, >> >> Prerequisite is to create a loan product with Accrual Accounting Enabled >> from the user end, whereafter Mifos Scheduler jobs will take care of >> Accrual postings. >> >> Following two jobs are responsible for accrual transactions >> >> *1. Add Accrual Transactions* >> - All the interest will be accrued till the 'Due date' of the job run >> and can be viewed under 'Transactions' tab, it is scheduled to run every >> day. >> >> *2.Add Periodic Accrual Transactions* >> *-*Similar to 'Add Accrual Transactions' except that all the interest >> will be accrued till the current date i.e the Job run date and time. >> This job can be configured to run weekly/ monthly or yearly based on the >> organization needs. >> >> >> In case if you had a late payment fee attached to the loan, same jobs >> will post the fees portion as well along with the interest. >> >> You can go through the following document to understand more on our >> scheduler jobs and its functionality >> >> https://mifosforge.jira.com/wiki/spaces/docs/pages/67895356/Manage+Scheduler+Jobs >> >> >> >> Please Let me know if you need any more information. >> >> Regards, >> Bharath >> Lead Implementation Analyst | Mifos Initiative >> Skype: live:cbharath4| Mobile: +91.7019636073 >> http://mifos.org <http://facebook.com/mifos> >> <http://www.twitter.com/mifos> >> >> >> On Wed, Apr 15, 2020 at 3:32 AM Ed Cable <edca...@mifos.org> wrote: >> >>> Hello Vinayak, >>> >>> Welcome to the community. I've cc'd my colleague, @Bharath Gowda >>> <bgo...@mifos.org> , who will be able to help you at a more technical >>> level but have you checked the status of the scheduler jobs: the ones for >>> the accrual should be running on a daily basis. >>> >>> You can view status of the respective jobs and manually execute them >>> from the Scheduler Jobs section under Admin >> System. >>> >>> You can read more here: >>> https://docs.mifos.org/user-manual/for-administrators-mifos-x-platform/administration/system/manage-scheduler-jobs >>> >>> Ed >>> >>> On Tue, Apr 14, 2020 at 2:00 PM Vinayak Javaly <vina...@urgent.vc> >>> wrote: >>> >>>> Hello. I just joined this mailing list. Apologies in advance if this >>>> question has already been answered, but I could not find it in the >>>> archives. >>>> >>>> First, here's some background: I have setup Fineract and the Mifos X >>>> client in my development environment. Using the Mifos UI, I have created >>>> Organizations, Loan Products, and other related entities. Using PyFineract >>>> / Fineract API, I have created Loans, etc. >>>> >>>> My question is: >>>> >>>> - What do I need to do or run to get the >>>> daily/weekly/monthly/periodic accounting to occur? For example, let's >>>> assume I create a loan with weekly repayments, and after a week has >>>> passed >>>> there are no repayments, what part of the system calculates late fees, >>>> interest, etc? >>>> >>>> Thanks. >>>> >>>> VJ >>>> >>> >>> >>> -- >>> *Ed Cable* >>> President/CEO, Mifos Initiative >>> edca...@mifos.org | Skype: edcable | Mobile: +1.484.477.8649 >>> >>> *Collectively Creating a World of 3 Billion Maries | *http://mifos.org >>> <http://facebook.com/mifos> <http://www.twitter.com/mifos> >>> >>>
