I’ve created a loan product with accrual and interest recalculation allowed but my question is what should the loan account have to that it will be qualified for this scheduler job? The job requires the loan account to have an “income posting” transaction but how the loan account can have it? I really need help with this for load testing. Thanks in advance.
When you create a loan product with enabling compounding interest and accrual accounting (as i gave an example in another thread). the active loans of this product will be eligible for this job to consider that loan for evaluation.
now coming to your question. when the loan is not paid on time, compounding interest calculation kicks in and calculates interest on interest, that interest will be posted as a transaction “income posting” under the transaction tab.
In transaction tab consists of transactions details like “Disbursement” , “Repayment”, “accrual”, “income posting” etc
However when I tried to create an example on staging server, Loan Repayment, accrual and income posting transactions are not getting posted. you can try out on your version on the scenario i mentioned above. meanwhile we will get the investigated on Staging server.
I considered it as a solution but one more question, how can I make the compounding to be posted as transaction to be true (1)?