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IMP::Interest calculation in Mifos

Hi Team,

Can we do the following accounting setup in Mifos as given below? I have
tried with Interest recalculation feature and It's not worked out. Need
help on this.

1. Have daily interest accruals at the back end 2. Debit the sum total of
the accruals to the loan account at month end and credit to interest
received GL a/c. 3. This amount of interest should reflect in the loan a/c
under transactions. 4. When the EMI is repaid, the interest portion will be
squared off in the a/c and remaining will go to the principal in the loan
a/c. 5. Total loan balance will be the sum of principal o/s, interest o/s
and charges o/s


Technical Consultant | Habile Technologies
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