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Subject: Re: [Mifos-developer] Bonus/Cash back to savings account
From: "Binny Gopinath Sreevas" <binny.gopinath () gmail ! com>
Date: 2014-05-29 12:36:15
Message-ID: 083201cf7b38$ea8c4500$bfa4cf00$ () gmail ! com
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Ashok,
Workaround:
You could use a "Temporary cash back/bonus payout" asset account along with a payment \
type called "cash back/bonus payout".
So for each payout:
Debit "Temporary cash back/bonus payout" asset \
account
Credit "Savings Portfolio"
And then at the end of the day – pass one manual entry to write this temporary \
asset off as an expense:
Debit: Expense Account (with sum of all cashback/bonus payout during the day)
Credit "Temporary cash back/bonus payout" asset account
You may need a report to summarize the "cash back/bonus payout" transactions so that \
this entry can be done easily.
So ideally, at the end of the day, "Temporary cash back/bonus payout" asset account \
should not have any balance in it.
IMO, right solution would be to:
a) Allow payment type to be mapped to an Expense account
b) Allow payment types to be associated to specific products (no point in \
showing "cash back/bonus payout" as a payment type for loans)
c) Enable some way to specify certain rules – for example, "cash back/bonus \
payout" should not be used with certain txn types like withdrawals
Note: While doing enhancement for point a) - we should allow incomes (fees) to be \
mapped to liability accounts too –this is to handle pass-thru incomes like \
insurance fees which are not real incomes, but are money that is to be paid to the \
insurance company eventually.
Thanks
Binny
From: Ashok [mailto:ashok@confluxtechnologies.com]
Sent: 28 May 2014 19:05
To: Mifos software development
Subject: Re: [Mifos-developer] Bonus/Cash back to savings account
Hi Nayan,
The negative charge amount cannot be used for cash back/Bonus pay out because this is \
an expense to the organization which should be mapped to an appropriate GL code.
The cash back/ bonus could be for each transaction or a separate transaction (not \
related to deposit/withdrawal). The system should allow to payout the cash back/bonus \
to savings account and perform appropriate accounting entries against this \
transaction.
I think using payment type as a possible solution to define a deposit is of cash back \
/ bonus but right now only fund sources are allowed to map for payment types in \
savings product's advance accounting rules section.
Thanks
Ashok
On Wed, May 28, 2014 at 5:34 PM, Nayan Ambali <nayan.ambali@gmail.com> wrote:
Ashok,
Is this similar to cash back on credit card/debit card usage for purchase? I mean is \
this against a transaction?
If this is the case, we can add negative transaction charge to a saving product. Out \
of box we can support this :)
I am serious, we can introduce some thing similar to charges, say discounts.
one question, what happens if i define negative charge in the system, how does trx \
and acct entries look like, if it is supported.
Thanks
Nayan Ambali
Thanks and Regards,
Nayan Ambali
+91 9591996042
skype: nayangambali
On Wed, May 28, 2014 at 5:18 PM, Ashok <ashok@confluxtechnologies.com> wrote:
Hi All,
We have a requirement where in organization wants to pay the bonus/cash back to the \
customer's savings account and want to track against an expense account to the \
organization.
Any idea on how to handle this requirement in savings module?
Thanks
Ashok
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class=WordSection1><p class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Ashok,<o:p></o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Workaround:<o:p></o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal style='text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>You could \
use a "Temporary cash back/bonus payout" asset account along with a payment type \
called "cash back/bonus payout".<o:p></o:p></span></p><p class=MsoNormal \
style='text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>So for each \
payout:<o:p></o:p></span></p><p class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'> \
Debit "Temporary cash back/bonus payout" asset account <o:p></o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'> \
Credit "Savings Portfolio"<o:p></o:p></span></p><p class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal style='text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>And then at \
the end of the day – pass one manual entry to write this temporary asset off as an \
expense:<o:p></o:p></span></p><p class=MsoNormal \
style='margin-left:36.0pt;text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Debit: \
Expense Account (with sum of all cashback/bonus payout during the \
day)<o:p></o:p></span></p><p class=MsoNormal \
style='margin-left:36.0pt;text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Credit \
"Temporary cash back/bonus payout" asset account<o:p></o:p></span></p><p \
class=MsoNormal style='text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal style='text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>You may \
need a report to summarize the "cash back/bonus payout" transactions so that this \
entry can be done easily.<o:p></o:p></span></p><p class=MsoNormal \
style='text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal style='text-indent:36.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>So ideally, \
at the end of the day, "Temporary cash back/bonus payout" asset account should not \
have any balance in it.<o:p></o:p></span></p><p class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>IMO, right \
solution would be to:<o:p></o:p></span></p><p class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoListParagraph style='text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if \
!supportLists]><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><span \
style='mso-list:Ignore'>a)<span style='font:7.0pt "Times New \
Roman"'> </span></span></span><![endif]><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Allow \
payment type to be mapped to an Expense account<o:p></o:p></span></p><p \
class=MsoListParagraph style='text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if \
!supportLists]><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><span \
style='mso-list:Ignore'>b)<span style='font:7.0pt "Times New \
Roman"'> </span></span></span><![endif]><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Allow \
payment types to be associated to specific products (no point in showing "cash \
back/bonus payout" as a payment type for loans)<o:p></o:p></span></p><p \
class=MsoListParagraph style='text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if \
!supportLists]><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><span \
style='mso-list:Ignore'>c)<span style='font:7.0pt "Times New \
Roman"'> </span></span></span><![endif]><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Enable some \
way to specify certain rules – for example, "cash back/bonus payout" should not be \
used with certain txn types like withdrawals<o:p></o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal style='text-indent:18.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Note: While \
doing enhancement for point a) - we should allow incomes (fees) to be mapped to \
liability accounts too –this is to handle pass-thru incomes like insurance fees \
which are not real incomes, but are money that is to be paid to the insurance company \
eventually.<o:p></o:p></span></p><p class=MsoNormal style='text-indent:18.0pt'><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Thanks<br>Binny<o:p></o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal><span \
style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p \
class=MsoNormal><b><span lang=EN-US \
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span \
lang=EN-US style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> Ashok \
[mailto:ashok@confluxtechnologies.com] <br><b>Sent:</b> 28 May 2014 \
19:05<br><b>To:</b> Mifos software development<br><b>Subject:</b> Re: \
[Mifos-developer] Bonus/Cash back to savings account<o:p></o:p></span></p><p \
class=MsoNormal><o:p> </o:p></p><div><div><div><div><div><p class=MsoNormal \
style='margin-bottom:12.0pt'>Hi Nayan,<o:p></o:p></p></div><p class=MsoNormal \
style='margin-bottom:12.0pt'>The negative charge amount cannot be used for cash \
back/Bonus pay out because this is an expense to the organization which should be \
mapped to an appropriate GL code.<o:p></o:p></p></div><p class=MsoNormal \
style='margin-bottom:12.0pt'>The cash back/ bonus could be for each transaction or a \
separate transaction (not related to deposit/withdrawal). The system should allow to \
payout the cash back/bonus to savings account and perform appropriate accounting \
entries against this transaction.<o:p></o:p></p></div><div><p class=MsoNormal \
style='margin-bottom:12.0pt'>I think using payment type as a possible solution to \
define a deposit is of cash back / bonus but right now only fund sources are allowed \
to map for payment types in savings product's advance accounting rules \
section.<o:p></o:p></p></div><div><p \
class=MsoNormal><o:p> </o:p></p></div><div><p \
class=MsoNormal><o:p> </o:p></p></div><p \
class=MsoNormal>Thanks<o:p></o:p></p></div><p \
class=MsoNormal>Ashok<o:p></o:p></p></div><div><p class=MsoNormal \
style='margin-bottom:12.0pt'><o:p> </o:p></p><div><p class=MsoNormal>On Wed, May \
28, 2014 at 5:34 PM, Nayan Ambali <<a href="mailto:nayan.ambali@gmail.com" \
target="_blank">nayan.ambali@gmail.com</a>> \
wrote:<o:p></o:p></p><div><div><div><div><div><div><p class=MsoNormal \
style='margin-bottom:12.0pt'>Ashok,<o:p></o:p></p></div><p class=MsoNormal \
style='margin-bottom:12.0pt'>Is this similar to cash back on credit card/debit card \
usage for purchase? I mean is this against a transaction?<o:p></o:p></p></div><p \
class=MsoNormal style='margin-bottom:12.0pt'>If this is the case, we can add \
<b>negative</b> transaction charge to a saving product. Out of box we can support \
this :)<o:p></o:p></p></div><p class=MsoNormal style='margin-bottom:12.0pt'>I am \
serious, we can introduce some thing similar to charges, say \
discounts.<o:p></o:p></p></div><div><p class=MsoNormal>one question, what happens if \
i define negative charge in the system, how does trx and acct entries look like, if \
it is supported.<o:p></o:p></p></div><div><p \
class=MsoNormal><o:p> </o:p></p></div><p \
class=MsoNormal>Thanks<o:p></o:p></p></div><p class=MsoNormal>Nayan \
Ambali<o:p></o:p></p><div><div><p class=MsoNormal> \
<o:p></o:p></p></div></div></div><div><p class=MsoNormal><br \
clear=all><o:p></o:p></p><div><div><div><p class=MsoNormal><span \
style='font-family:"Verdana","sans-serif";color:#333333'><br>Thanks and \
Regards,<br></span><span style='font-family:"Verdana","sans-serif"'>Nayan \
Ambali</span><o:p></o:p></p></div><div><p class=MsoNormal><span \
style='font-family:"Verdana","sans-serif"'>+91 \
9591996042</span><o:p></o:p></p></div><p class=MsoNormal><span \
style='font-family:"Verdana","sans-serif"'>skype: \
nayangambali</span><o:p></o:p></p></div></div><p class=MsoNormal \
style='margin-bottom:12.0pt'><o:p> </o:p></p><div><div><div><p \
class=MsoNormal>On Wed, May 28, 2014 at 5:18 PM, Ashok <<a \
href="mailto:ashok@confluxtechnologies.com" \
target="_blank">ashok@confluxtechnologies.com</a>> \
wrote:<o:p></o:p></p></div></div><blockquote style='border:none;border-left:solid \
#CCCCCC 1.0pt;padding:0cm 0cm 0cm \
6.0pt;margin-left:4.8pt;margin-right:0cm'><div><div><div><div><div><div><p \
class=MsoNormal style='margin-bottom:12.0pt'>Hi All,<o:p></o:p></p></div><p \
class=MsoNormal style='margin-bottom:12.0pt'>We have a requirement where in \
organization wants to pay the bonus/cash back to the customer's savings account and \
want to track against an expense account to the organization.<o:p></o:p></p></div><p \
class=MsoNormal style='margin-bottom:12.0pt'>Any idea on how to handle this \
requirement in savings module?<o:p></o:p></p></div><p class=MsoNormal>Thanks<span \
style='color:#888888'><br>Ashok</span><o:p></o:p></p></div><p \
class=MsoNormal><o:p> </o:p></p></div></div><p \
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