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Add customer documentation for effective date
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fineract-doc/src/docs/en/chapters/documentation/effective-date.adoc
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= Introducing Effective Date into Fineract | ||
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For banks, Apache Fineract is introducing transaction idempotency, business and | ||
effective date configuration as an addition to currenty supported | ||
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* System date | ||
* Tenant date | ||
* User-provided date | ||
An effective date represents the date that the receipient of a payment sees the | ||
funds transferred and the financial institutions at either end of the transaction | ||
settle funds with one another. | ||
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As an example, usually the effective date for credit entries will be one or two | ||
days after the processing date; for debit entries the effective date is the | ||
following banking date or business date. | ||
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= Features | ||
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Customers and developers can now: | ||
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* Specify effective date from which the compounding of interest or fee amounts | ||
will be considered in recalculation on late payment. | ||
* Specify effective date from which the late or advanced payment amounts will | ||
be considered in recalculation. | ||
* Update the recommended deposit amount for a RD account as on the effective date. | ||
* Specify or update deposit account transaction effective date. | ||
* Specify or update effective date in loan schedule generation. | ||
* Testing purpose. | ||
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For Terms bearing the same effective date, loan term variations is sorted based | ||
on modified date (when available) and new inserted installment. | ||
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= How to enable effective date as a functionality | ||
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Effective date functionality can be added using Fineract job or using API. Both | ||
of which performs proper checks and outputs outcome parameter for the customers | ||
and developers. These also support timezones, daylight savings. | ||
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== Job | ||
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This depends on defining closing of business day (CoB) operations. Customers and | ||
developers can now: | ||
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* Scheduled job | ||
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As an example: | ||
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```POST /fineract-provider/api/v1/jobs/<job_id>?command=executeJob`` | ||
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== API | ||
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Customers and developers can now manage effective date using API calls. | ||
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= Effective date use case scenarios | ||
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== Apply for loan | ||
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* Tenant date | ||
* Effective date | ||
* Submitted on date | ||
* Outcome: SUCESS/FAILURE | ||
* Message | ||
* Reason | ||
* Loan application details | ||
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== Repayment for a loan | ||
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* Tenant date | ||
* Effective date | ||
* Transaction date | ||
* Outcome: SUCCESS/FAILURE | ||
* Loan transaction details | ||
* Submitted on date | ||
* Transaction date | ||
* Created on date | ||
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= Effective date code examples | ||
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== Increase Effective date by 1 day | ||
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``` | ||
``` | ||
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== API: | ||
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Fetch effective date using: | ||
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`GET /fineract-provider/api/v1/businessdates/BUSINESS` | ||
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```json | ||
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Response | ||
{ | ||
"type": "BUSINESS", | ||
"date": [2022, 5, 13] | ||
} | ||
``` | ||
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= Effective date specifics | ||
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== Effective date type name | ||
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* Type | ||
* Locale | ||
* DateFormat | ||
* DateValue | ||
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== Effective date configuration domain service | ||
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* isBusinessDateEnabled() | ||
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== Effective date errors and exceptions | ||
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