Re: Wrong Interest calculation

2017-02-15 Thread mexina 
Hi Zayyad

Thank you for the clarification.
The workaround worked

Regards

"Zayyad A. Said"  wrote:

>
>Mexina,
>
>The issue is you are trying to calculate monthly interest with weekly 
>repayment schedules.
>
>I have seen this as well and the workaround we have been using is to divide 
>the monthly interest by 4 and then multiply by 52 to get annual rate.
>
>Configure the product with interest per year then see if you will get right 
>interest using weekly schedules.
>
>Regards,
>
>Zayyad A. Said
>
>Sent from Samsung tablet
>
>Mexina Daniel  wrote:
>
>Hi Santosh
>
>For what i know
>
>If Principal  = 50,000, interest = 3% for month
>This means the interest charged for one month is 1500 and for 3 months 
>it will be 4500.
>
>Now in Mifos: when you configure the same principal and interest but 
>repaid every week for 12 weeks (= 3months) it gives total interest 4,154.
>
>The interest for 1 week should be 375 but the system says it is 346 ( 
>gives 4154 after 12 repayment)
>
>
>
>On 02/14/2017 04:26 PM, Santosh Math wrote:
>> Hi Mexina,
>>
>> Could you give me the formula which you are using to calculate interest?
>>
>>
>>
>> On Feb 14, 2017 6:38 PM, "Mexina Daniel"  wrote:
>>
>>> Hi Santosh
>>>
>>> I did check it with "Currency multiple of" 1, it still gives wrong interest
>>>
>>> https://demo.openmf.org/#/viewloanaccount/625
>>>
>>>
>>> When you configure loan term in months and repaid every 1 month it give
>>> correct interest with both "Currency multiple of" 1 and "Currency multiple
>>> of" 100.
>>>
>>> Regards
>>>
>>> On 02/14/2017 01:40 PM, Santosh Math wrote:
>>>
 Hi Mexina,

 I think  you set 'Currency in Multiple of ' 100 and it is rounding off to
 nearest 100th value. Check it again with 'Currency in Multiple of' as 1.

 https://demo.openmf.org/#/editloanproduct/144

 On Tue, Feb 14, 2017 at 3:36 PM, Mexina Daniel 
 wrote:

 Hi dev!
> When you apply a loan and configure loan term 12 weeks, number of
> repayment 12 and repaid every 1 week, the system wrongly calculate
> interest
>
> I reproduced this in https://demo.openmf.org/#/viewloanaccount/624
>
> Am i setting it wrong somewhere?
>
> Thank in advance
>
> --
> Mexina M Daniel
> Lead Software Developer
> Research & Development
>
> Tel:+255 222 618 511 | Mob: +255 712 110 791
>
> Singo Africa Limited
> Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es
> Salaam
>
> singo.co.tz
>
> Lets grow together
>
>
>
>>> --
>>> Mexina M Daniel
>>> Lead Software Developer
>>> Research & Development
>>>
>>> Tel:+255 222 618 511 | Mob: +255 712 110 791
>>>
>>> Singo Africa Limited
>>> Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam
>>>
>>> singo.co.tz
>>>
>>> Lets grow together
>>>
>>>
>
>-- 
>Mexina M Daniel
>Lead Software Developer
>Research & Development
>
>Tel:+255 222 618 511 | Mob: +255 712 110 791
>
>Singo Africa Limited
>Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam
>
>singo.co.tz
>
>Lets grow together
>

Re: Wrong Interest calculation

2017-02-14 Thread Santosh Math 
Hi Mexina,

Could you give me the formula which you are using to calculate interest?



On Feb 14, 2017 6:38 PM, "Mexina Daniel"  wrote:

> Hi Santosh
>
> I did check it with "Currency multiple of" 1, it still gives wrong interest
>
> https://demo.openmf.org/#/viewloanaccount/625
>
>
> When you configure loan term in months and repaid every 1 month it give
> correct interest with both "Currency multiple of" 1 and "Currency multiple
> of" 100.
>
> Regards
>
> On 02/14/2017 01:40 PM, Santosh Math wrote:
>
>> Hi Mexina,
>>
>> I think  you set 'Currency in Multiple of ' 100 and it is rounding off to
>> nearest 100th value. Check it again with 'Currency in Multiple of' as 1.
>>
>> https://demo.openmf.org/#/editloanproduct/144
>>
>> On Tue, Feb 14, 2017 at 3:36 PM, Mexina Daniel 
>> wrote:
>>
>> Hi dev!
>>>
>>> When you apply a loan and configure loan term 12 weeks, number of
>>> repayment 12 and repaid every 1 week, the system wrongly calculate
>>> interest
>>>
>>> I reproduced this in https://demo.openmf.org/#/viewloanaccount/624
>>>
>>> Am i setting it wrong somewhere?
>>>
>>> Thank in advance
>>>
>>> --
>>> Mexina M Daniel
>>> Lead Software Developer
>>> Research & Development
>>>
>>> Tel:+255 222 618 511 | Mob: +255 712 110 791
>>>
>>> Singo Africa Limited
>>> Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es
>>> Salaam
>>>
>>> singo.co.tz
>>>
>>> Lets grow together
>>>
>>>
>>>
>>
> --
> Mexina M Daniel
> Lead Software Developer
> Research & Development
>
> Tel:+255 222 618 511 | Mob: +255 712 110 791
>
> Singo Africa Limited
> Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam
>
> singo.co.tz
>
> Lets grow together
>
>

Re: Wrong Interest calculation

2017-02-14 Thread Mexina Daniel 

Hi Santosh

I did check it with "Currency multiple of" 1, it still gives wrong interest

https://demo.openmf.org/#/viewloanaccount/625


When you configure loan term in months and repaid every 1 month it give 
correct interest with both "Currency multiple of" 1 and "Currency 
multiple of" 100.


Regards

On 02/14/2017 01:40 PM, Santosh Math wrote:

Hi Mexina,

I think  you set 'Currency in Multiple of ' 100 and it is rounding off to
nearest 100th value. Check it again with 'Currency in Multiple of' as 1.

https://demo.openmf.org/#/editloanproduct/144

On Tue, Feb 14, 2017 at 3:36 PM, Mexina Daniel  wrote:


Hi dev!

When you apply a loan and configure loan term 12 weeks, number of
repayment 12 and repaid every 1 week, the system wrongly calculate interest

I reproduced this in https://demo.openmf.org/#/viewloanaccount/624

Am i setting it wrong somewhere?

Thank in advance

--
Mexina M Daniel
Lead Software Developer
Research & Development

Tel:+255 222 618 511 | Mob: +255 712 110 791

Singo Africa Limited
Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam

singo.co.tz

Lets grow together






--
Mexina M Daniel
Lead Software Developer
Research & Development

Tel:+255 222 618 511 | Mob: +255 712 110 791

Singo Africa Limited
Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam

singo.co.tz

Lets grow together

Re: Wrong Interest calculation

2017-02-14 Thread Santosh Math 
Hi Mexina,

I think  you set 'Currency in Multiple of ' 100 and it is rounding off to
nearest 100th value. Check it again with 'Currency in Multiple of' as 1.

https://demo.openmf.org/#/editloanproduct/144

On Tue, Feb 14, 2017 at 3:36 PM, Mexina Daniel  wrote:

> Hi dev!
>
> When you apply a loan and configure loan term 12 weeks, number of
> repayment 12 and repaid every 1 week, the system wrongly calculate interest
>
> I reproduced this in https://demo.openmf.org/#/viewloanaccount/624
>
> Am i setting it wrong somewhere?
>
> Thank in advance
>
> --
> Mexina M Daniel
> Lead Software Developer
> Research & Development
>
> Tel:+255 222 618 511 | Mob: +255 712 110 791
>
> Singo Africa Limited
> Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam
>
> singo.co.tz
>
> Lets grow together
>
>


-- 
Thanks  and Regards
Santosh
QA Team
Conflux Technologies Pvt Ltd, Bengaluru
Skype:santoshmath99

Wrong Interest calculation

2017-02-14 Thread Mexina Daniel 

Hi dev!

When you apply a loan and configure loan term 12 weeks, number of 
repayment 12 and repaid every 1 week, the system wrongly calculate interest


I reproduced this in https://demo.openmf.org/#/viewloanaccount/624

Am i setting it wrong somewhere?

Thank in advance

--
Mexina M Daniel
Lead Software Developer
Research & Development

Tel:+255 222 618 511 | Mob: +255 712 110 791

Singo Africa Limited
Block G,Mbezi Beach B| 7 Nakawale Road| P.O.Box 78908| 14121 Dar es Salaam

singo.co.tz

Lets grow together