Mifos should have support for basing transactions on financial year instead of calendar year.
For accounting purposes, should be able to close on financial year (i.e. Apr 1 to Mar 31).
from Amit Jain via mailing list:
What will be the benefits?
As we all knows that HUGO is developing the accounting module for Mifos, that will be add soon in Mifos X or earlier Might be it is usefull because it is a basic accounting principle.
1.The transaction will have a restriction of financial year.
2.Reports like active loan summary will be based on financial year.
3.You can analyses the data based on years.
A pre step towards accounting in Mifos.
4.Once the financial year closed no back dated entries are allowed to disturb the book of any MFI.
Presently I feel this is the lacking in MIfos.
The community will tell more on this.I any one have question in mind please let me know.
This needs an estimate.