Incorrect calculations in Declining Balance - Interest Recelculation rate type
after adding fees
------------------------------------------------------------------------------------------------
Key: MIFOS-5629
URL: http://mifosforge.jira.com/browse/MIFOS-5629
Project: mifos
Issue Type: Bug
Components: Fee, Loan Account
Affects Versions: 2.3.3
Reporter: Łukasz Babski
Priority: Critical
Fix For: Unscheduled
Attachments: 1.png
Incorrect calculations in Declining Balance - Interest Recalculation rate type
after adding fees.
Repro:
# Create two Loan products:
A)
{quote}
Payment frequency: weekly
Loan Type: Declining Balance
{quote}
B)
{quote}
Payment frequency: weekly
Loan Type: Declining Balance-Interest Recalculation
{quote}
# Create a periodic fee of 4% applied to principal + interest, and one-time fee
for the first installment equal 5$
# Create Loan accounts for both Loan Types:
{quote}
Loan amount: 120
Interest rate: 25%
Number of installments: 6
Payment frequency: weekly
{quote}
# Add newly created fees to both loan accounts
# Click continue and compare both schedules
Information on
[PAGE|http://mifos.org/functional-specifications/system-processing/interest-calculations-loan-accounts]
says about Interest Recalculation that:
"This takes the Declining Balance interest rate type, but interest charged is
updated based on early or late payments".
Which means that whole Calculations for accounts where payment is on time and
is correct are the same as on Declining Balance rate type.
As it is shown on attached file, adding fees to this account makes calculations
incorrect.
Actual Result:
Adding fees to account with Interest Recalculation rate type makes calculations
incorrect.
Expected result:
For Interest Recalculation rate type whole Calculations for accounts where
payment is on time and is correct are the same as on Declining Balance rate
type.
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