Page Comparison

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1. Overview
   

   This feature allows a loan to be disbursed directly into the savings account of a client (rather than disburse it via any Payment modes like Cash, Check etc.)

   User Stories:

   a) As a Loan Officer or Branch Staff, I wish to disburse any loan directly to a savings or current account

   b) As an administrator, I wish to allow loans to be disbursed to savings account by setting the global parameter "Allow Disbursal to Savings Account" to true (or false - to disallow the same)
   
   

2. Functional Enhancements
   

   Business Rules:

   a) Loans will be disbursed only to the client's own savings accounts and not to any other client's savings accounts.

   b) The target Savings account has to be active

   c) The Savings account should have been activated before the disbursal date

   d) The "Allow Disbursal to Savings Account" should be set to true

   e) When disbursing to a savings account, the payment type will be set to the "Default Payment Type When Disbursing to Savings Account"
   Loan Disbursal Screen to be modified to allow selection of one of the client's savings accounts during disbursal.

   Global Configurations screen to be modified to have a parameter to allow for disbursal to savings account and to capture default parameters when doing such disbursal..

   
   Journal Entry to be passed when disbursing to a savings account:

             Debit: "Loan Portfolio" Asset Account

             Credit: The selected Savings account product's "Savings Control" Liability Account

3. New Screens
   
   None
   
   
4. Changes to Existing Screens
   
   a. The loan disbursal screen will be modified as follows:
   
   
   • New Check box to be added so that user can select whether the loan is to be disbursed to a savings account
   • New Dropdown to be added so the the user can select to which savings account the disbursal has to be done
   
   These fields would be displayed only if "Allow Disbursal to Savings Account" is set to true. Both fields are nullable.
   
   b. Admin --> System --> Configurations to be modified to include one more attributes:
   
   • Allow Disbursal to Savings Account - True or False
     
     
5. Sample Screens
   
   Loan Disbursal Screen:
   
   
   
   Configuration Screen - add new parameter for "Allow Disbursal to Savings Account":
   
   
   
   
6. Exception Handling
   
   All business rules mentioned above to be validated during loan disbursal and appropriate error messages to be displayed to user.
   
   
7. Reporting
   
   No Changes
   
   
8. APIs
   
   Optional field "Disburse To Account" to be added. This will have a savings account ID that belongs to the same client.
   
   
9. Notes
   
   No changes to batch jobs.
   For any existing installations, Allow Disbursal to Savings Account - should be set to False during upgrades

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