I am new to Mifos and I am reaching out for help .
We have created a new loan product with Interest Calculation as “Daily”. The expectation is that we should have Daily Interest accrued and recorded against the GL’s once we run the batch. During the month end, accrued amount should be consolidated and posted against the Interest Received GL. Once the customer repays, interest portion should be knocked off accordingly.
Currently, after running the “Add Periodic Accrual Transactions”, we don’t see any accrual entry for the day. Please advise.
If there is an existing thread which can help me in this regard, please direct me as required.