Late Payment Penalty : Grace Period should apply to every installment
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Key: MIFOS-5565
URL: http://mifosforge.jira.com/browse/MIFOS-5565
Project: mifos
Issue Type: Bug
Components: Loan Account
Affects Versions: 2.3.0-GA, 2.3.0-RC1
Reporter: Chetan Bekkinkeri
Assignee: Lukasz Chudy
Priority: Major
Currently the grace period for penalty application applies at the loan account
level. But the grace period should apply to every installment.
Sample Use case
Current Behavior :
For a weekly repayment schedule, with penalty application of daily frequency
Payment due Date: 04/11/2012
Grace period : 3 days
Account unpaid. Batch job run on 05/12/2012 will not add any penalty since
grace period in effect
Account unpaid till 04/19/2012
Batch job runs on 04/19/2012 -- penalty calculated and applied for payments due
on 04/11/2012 and also for payments due to 04/18/2012
Expected behavior : Penalty is applied only for the installment due on
04/11/2012. for the payments due on 04/18/2012, the grace period should be in
effect and no penalty should be calculated.
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