Re: [Mifos-users] PCG Partners Issue

[Sangamesh N. <san...@co...>]

Alright Sam, Please come on skype will have discussion on this.

Thanks,
Sangamesh

On Mon, May 25, 2015 at 10:09 PM, Sam Art Nut <sam...@pr...> wrote:

> Dear Sangamesh,
>
> First, I noticed that the loan is actually paid when I made loan
> prepayment in demo. However It's not the case that I meet in the system I
> currently use. So I would like to request you to take time so that I can
> show you in my system.
>
> Second, please observe the loan I just added under your name (client). I
> made repayment for next payment. Please click view on journal entries of
> the transaction, you will see what I mentioned in previous mail. Moreover,
> please view Balance Sheet report and observe account name PCG accrued
> interest, you will see the negative number which is the affect the
> repayment transaction.
>
> Best regards,
>
> Sam
>
> On Sun, May 24, 2015 at 1:12 AM, Sangamesh Nadagoudar <
> san...@co...> wrote:
>
>> Hello Sam,
>>
>> Sorry I dint get a chance to reply you earlier.
>>
>> With respect to the prepay loan, I tried to reproduce on demo instance
>> and was able to prepay the loan. Here are the details: *https://demo.openmf.org
>> <https://demo.openmf.org>,* Loan id: 000000245 & client name:sangamesh
>> nadagoudar.
>>
>> Regarding the accounting entries, would you be able to reproduce the same
>> in Mifos X - demo and provide indetail explanation of your expectation.
>>
>> Thanks,
>> Sangamesh
>>
>>
>>
>>
>> On Fri, May 22, 2015 at 5:44 PM, Dayna Harp <dh...@mi...> wrote:
>>
>>> Can anyone in the community help Sam out with this one?
>>>
>>> Begin forwarded message:
>>>
>>> *From: *Sam Art Nut <sam...@pr...>
>>> *Subject: **Issue on Mifos X*
>>> *Date: *May 21, 2015 at 11:15:29 AM CST
>>> *To: *Sangamesh N <san...@co...>, Ed Cable <
>>> ed...@mi...>, Dayna Harp <dh...@mi...>
>>>
>>> Dear All,
>>>
>>> I just find out an issue relate to loan prepayment and repayment.
>>>
>>> First when I made a loan prepayment, the prepaid loan still has balance.
>>> The system captured amount for prepayment incorrectly. I noticed that
>>> system incorrectly allocated amount between loan outstanding and accrued
>>> interest. It tends to overstate accrued interest and understate loan
>>> outstanding in the following entries:
>>>
>>> Dr. Cash
>>> Cr. Loan outstanding
>>> Cr. Accrued Interest
>>>
>>> Second, when we make loan repayment before due date, the transaction was
>>> recorded incorrectly as below:
>>>
>>> Dr. Cash
>>> Cr. Loan outstanding
>>> Cr. Accrued Interest
>>>
>>> The correct entries should be
>>> Dr. Cash
>>> Cr. Customer deposit (liability)
>>>
>>> and on the due date, the entries should be recorded as
>>> Dr. Customer deposit
>>> Cr. Loan outstanding
>>> Cr. Accrued interest.
>>>
>>> These errors seriously affect the quality financial report. I suggest
>>> you consider it as urgent priority and I would like to request any person
>>> from your team to discus in detail.
>>>
>>> Best regards,
>>>
>>> --
>>>
>>>
>>> ****************************************NUT SAM ART, ACCA, CPA (KH)*Director,
>>> Business and Financial Management Consulting
>>>
>>>
>>> *PCG & Partners Co., Ltd*
>>> #113 (Parkway Square 1st floor) Room 1-21, Mao Tse Toung Blvd, Khan
>>> Chamkamorn, Phnom Penh, Cambodia
>>> Mobile: (855) 12 403 239 mail: sam...@pr... <ro...@pr...> S
>>> kype: samart.nut Website: www.pro-cg.com
>>>
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>>
>
>
> --
>
>
> ****************************************NUT SAM ART, ACCA, CPA (KH)*Director,
> Business and Financial Management Consulting
>
>
> *PCG & Partners Co., Ltd*
> #113 (Parkway Square 1st floor) Room 1-21, Mao Tse Toung Blvd, Khan
> Chamkamorn, Phnom Penh, Cambodia
> Mobile: (855) 12 403 239 mail: sam...@pr... <ro...@pr...> S
> kype: samart.nut Website: www.pro-cg.com
>
> *Disclaimer**:*
> *This email is confidential and may also be legally privileged. It is
> intended only for the stated addressee(s) and access to it by any other
> person is unauthorized. If you are not an intended addressee, you must not
> disclose, copy, circulate or in any other way use or rely on the
> information contained in this email. If you have received it in error,
> please inform us immediately and delete all copies. This email is not
> intended to create an offer to sell or purchase securities nor as a legally
> binding agreement of any kind.*
>