OverDue Fee are being added for every installment which is late

Description

Overdue Fees are currently added for every installment which is late, instead of the total late days.
For example: (assume: overdue fee of $5.00 per day the loan is late)

Currently
1st installment is 10days overdue ($5.00 X 10Days)=$50.00 Overdue Fee
2nd installment is 4days Overdue ($5.00 X 4 Days)= $20.00 Overdue Fee
TOTAL = $70.00
**However the loan is only 10 days late
Therefore overdue fees should only be $50.00.

Possible Resolution
Overdue fees should be extended to support adding overdue fees on total days late of a loan, not individual installments. A option to decide weather
to add overdue fees per installment or per overall loan is required.

Environment

None

Activity

Show:
DaynaH
October 8, 2015, 4:26 PM

Reported as bugs

Vishwas Babu A J
October 21, 2014, 12:38 AM

Looping you on these items, they were originally raised as Bugs, have moved them to improvements as the original design for overdue fees did not include these scenarios

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Assignee

Unassigned

Reporter

johnny

Team

Core