Adding mifos-user list to clear up for the community too..
Payment in this context is used for repayments. A disbursal is the term
we used to describe the loan that is paid out to the client. In Mifos,
you can only do the entire disbursal at once, this cannot be broken up.
After disbursal, as the client makes repayments, each of these are
applied to the loan.
When a reversal happens, all repayments that have been made to the loan
are "reversed" as is the original loan disbursal.
Hope that helps!
Kay
From: anita Anderson [mailto:anitaanderso...@gmail.com]
Sent: Sunday, March 14, 2010 11:05 PM
To: Kay Chau; Adam Monsen; Edward Cable
Cc: Mike Dash
Subject: mfi terminology for loans and paybacks
Hi Grameeners--I hope someone is in the office in the next day or so to
answer questions--I realize that several of you are at boot camp.
I'm puzzling over the use of the word "payment" in the context of loans.
When a client gets a loan, do they get the whole amount all at once, or
in pieces? If it's in pieces, then each piece is called a "payment"? Or
is the word "payment" used only for "repayment"?
This comes up in the reverse disbursal screen, where I see this
instructional text:
"Specify the note and click Preview if you want to reverse the Loan
disbursal and all payments made against this Loan . "
In this case, I see two "payments made." i can't tell if the client has
gotten two payments (disbursals) of the total loan and hasn't paid back
any, or if the client has made two payments (repayments) of the loan.
When a loan is reversed, then, what exactly gets reversed? What happens
to any partial repayments?
Thanks--Anita
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