See also https://mifos.dev.java.net/issues/show_bug.cgi?id=1551
> 1. I could not find anywhere to configure the fiscal year.
> However I see that the code uses gregorian calendar.
I'll make sure that we clarify in the functional spec that the fiscal year can't be configured in Mifos-- and that it is assumed to be Jan 1st.
> 2. When I created a savings product (today 04-Dec-07) with 30 days for
> interest calculation on min balance and 6 months for posting, in the
> database it recorded the LAST_INT_CALC_DATE = NULL NEXT_INT_CALC_DATE
> = 2007-12-22 NEXT_INT_POST_DATE = 2008-01-31
So from your note below, it sounds like Mifos starts counting the interest calculation date from the first of the fiscal year-- hence Dec 22nd.
In terms of the interest posting date-- im not sure why mifos calculates this date as the end of January. Seems like it should be the End of December as per the FS.
> When I changed the system date so that it would calculate the
> interest, the dates were changed to LAST_INT_CALC_DATE =
> 2007-12-22 NEXT_INT_CALC_DATE = 2007-01-21 NEXT_INT_POST_DATE =
> 2008-01-31
>
>From the functional spec for savings product
> tion#savings
> I see that the "Time period for interest rate calculation"
> has a note "Reference for time period is the start of fiscal year for
> all product instances."
I'll make sure the functional spec clarifies that the fiscal year is assumed to be Jan 1st.
> And for "Frequency of interest posting to accounts" has a note
> "Interest should be posted on the last day of the month for all the
> accounts."
Yep, I remember this. I believe I'm to blame for this requirement :-) . I didn't think there would ever be a need to post interest mid-month and I wanted to keep the requirements simple for our first release.
> What this means is that my months are based on number of days so if I
> say 30 days, then in december (based on the Jan 1st fiscal year), my
> interest calculation date becomes 2007-12-22, however the posting will
> only happen at the end of the gregorian month (which in my example,
> even when I had selected 6 months, the date became the end of the next
> month).
Yeah, this seems like a bug. Should be Dec 31st.
