1. Create overdue charge -Flat-100-Regular-Active-Penalty.
2. Create a loan product with following data sets,
Principal:10,000,Number of Repayments:12,
Repay Every:1 Months
Nominal Interest Rate:1Per month
Interest Methodeclining Balance
Interest Calculation Periodaily
Repayment Strategy:Overdue/Due Fee/Int,Principal
Days in year:Actual
Days in month:Actual
Advance payments adjustment type:Reduce number of installments
Pre-closure interest calculation rule:Calculate till pre closure date
Interest recalculation compounding on:None
Frequency for recalculate Outstanding Principalaily
Frequency Interval for recalculation:1
Frequency Date for recalculation:01 October 2015
Add above created overdue charge to that loan product.
3. Create a client and submit new loan application on 01 December 2015 approve and disburse on same date.
4. Execute scheduler job apply penalty for overdue loans
5. Penalty got applied on 01 January 2015.
6. Click on Make repayment and mention date as exact due date ie 01 January 2015.
Since repayment is done on exact due date penalty should not get collected. But it is displaying the message in make repayment page as "Penalty charge will be paid along with this repayment".