Hi Bharat Thank you! In order to try this out, I really need to be able to move the system date forwards to see how the interest is calculating and post various chronological transactions. I've posted this question as a separate thread, too. Is this possible without actually changing the date on the machine we have Mifos installed on?
Best regards, Debbie On Thu, 9 Apr 2020 at 18:02, Bharath Gowda <bgo...@mifos.org> wrote: > Hi Debbie, > > In order to achieve the same, first we need to set the "interest > calculation period" as "daily" under settings section. > and by enabling the interest recalculation, > 1. The late payment or an early payment, system will always collect the > interest till the repayment date(which could be more or less the interest > of that installment) > .2.There will two Schedule on the loan screen with interest recalculation, > 1.original schedule and repayment schedule > Original schedule will show the original installments and interest amount > to be paid from the start of the loan > Repayment schedule is more of a running schedule, it will include the > repayment dates which were done before or after the installment date too. > > Please find the images below of configuration, Kindly let me know if you > need any other details. > I can also help you in setting up your product, if you could help me with > the complete product requirement. > > [image: interest setting.png] > [image: interest recalculation.png] > > > > 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 Thu, Apr 9, 2020 at 2:39 PM Debbie Watkins | Lucy < > debbie.watk...@welucy.com> wrote: > >> Hi all >> >> Is there a loan parameter setting (or combination of settings) that will >> enable loan interest to be calculated on a daily basis, so that when a >> repayment is made then only the interest due to-date is paid and the >> balance goes to principal? >> >> Thank you! >> >> Best regards, Debbie >> [image: Your Company] <http://www.welucy.com/> >> Debbie Watkins >> CEO and Co-founder <https://www.linkedin.com/company/lucy-community> >> [image: T:] +65 8589 3067 >> [image: E:] debbie.watk...@welucy.com <rebecca....@lucytribe.com> >> *Lucy* | *Turning the unbanked into the unstoppable* >> www.weLucy.com <http://www.lucytribe.com/> >> _______________________________________________ >> Mifos-users mailing list >> Mifos-users@lists.sourceforge.net >> https://lists.sourceforge.net/lists/listinfo/mifos-users >> > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users >
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