Hi All,
Background - Swabalamban Bikas Bank is planning on deploying Mifos. There is
one other functionality they would like to have. I need input from others as
to how this functionality should be applied.
 
Functionality - Saving Product Interest Capitalization
SBB capitalize their interest (post) on a specific date which conincides
with their bi-annual closing based on the Nepali calendar. This date can
fall on different Gregorian Calendar Dates. For e.g. This fiscal Nepali year
they are on Jan 17th 2007 and Jul 16th 2008.  They need functionality to
calculate the interest till this date and then post it to the accounts. The
interest is actually calculated monthly (based on the Nepali month) on the
min balance ( since mifos does not support nepali calendar they are planning
to use 28 day for interest calculation on the min amount).
 
 
 
So for the Posting functionality here are some options
 
1. A batch job is used to update the "NEXT_INT_POST_DATE" to the correct
date. (However i still have to dig into how exactly this functionality works
for dates that are not end of the month) .. see spec
<http://www.mifos.org/knowledge/functional-specs/product-definition#savings>
http://www.mifos.org/knowledge/functional-specs/product-definition#savings
 
2. A button (action) is added on the admin tab to "post interest ". So when
a user clicks on it, the interest is posted.
 
3. A Date field is added to the saving product definition where user will be
able to enter the date for the next posting.. (however this may change from
one fiscal year to next or every six months), so if the user updates this
date once interest isposted, this change should be reflected on all
exisiting instances of the product.
 
 
Please give your feedback and suggestions or if you can think of other
options.
 
Thanks
Soham
 
 
 
 
 <mailto:[EMAIL PROTECTED]> Soham Dhakal

 

Magnus Consulting Group Pvt. Ltd

977-1 5546945 

3/469 Pulchowk| GPO Box 19446 | Lalitpur | Nepal

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