Currently, the order of loan payments is always the same:
1. 1st installment's: Misc Penalty, Penalty, Misc Fees, Fees, Interest, Principal
2. 2nd installment's: Misc Penalty, Penalty, Misc Fees, Fees, Interest, Principal
3. 3rd installment's...
There is a need to add configuration setting which will allow to change the default order of payments to the following one:
1. All overdue/current Interest
2. 1st installment's: Misc Penalty, Penalty, Misc Fees, Fees, Principal
3. 2nd installment's: Misc Penalty, Penalty, Misc Fees, Fees, Principal
4. 3rd installment's...
This means we need to add a single option to choose from the following repayment strategies:
the old payment order
always repay overdue interest first
Łukasz, can you check if the mentioned solution from hudsonBuild-MIFOS-5636 is working as expected? Moreover, it should be also added to the Declining Balance - Interest Recalculation type of loans. If everything is correct, please also add tests and merge everything into master.
fixed in commit: dd596765374cb817bfca57beff422301cca57dc6
Build number: head-master-commit-1200
there are two problems with 'repay overdue interest first' option.
First: if payment date is a due date of installment then current interest is not repaid as first. Applied payment is used to repay overdue fees, penalties and principals.
Second: There is a problem in Declining Balance - Interest Recalculation interest rate. Overdue interests (except first one) are not repaid to the end. See attached file.
fixed in commit a107ec75fcb324298f37b6d41788658b3be5685b
Verified on 23.08.2012
Bug has been fixed properly.
Build Date: Wed Aug 22 02:57:29 PDT 2012
Build Number: hudson-head-master-archive-1048