We are using FINTAP transaction for calculating interest and posting the same.
Now my only concern is that when staff is taking loan on
01.04.2008, system is calculating from 02.04.2008 and when they are
refunding part amount on 01.05.2008 the system is calculating from
02.05.2008 to 31.05.2008.
1. Staff has taken loan on 01.04.2008 Rs.25000/-, system
calculates the interest from 02.04.2008, it should calculate from
2. Staff when pays the installment of Rs.1000/- on 01.05.2008
system calculates interest from 02.05.2008 on (25000 -1000 = 24000).
Please help me to resolve this issue.
Thanks and regards,