Penalties

Penalties holds the late-payment charges raised against overdue loans, calculated per the product's penalty rule (flat or percentage on overdue principal or instalment). It documents each penalty's basis and posting so charges are transparent and consistently applied.

Workflow

Review penalties auto-raised on overdue instalments.
Open a penalty to verify its calculation basis and amount.
Raise a manual penalty where the product rule permits.
Waive or reverse a penalty with proper authorisation.
Confirm penalty postings reflect on the loan balance.

Fields reference

Every field on this screen, drawn from the live data model.

Field	Type	Required	Description
Auto-Generated `is_auto`	Yes/No	—	Generated by automated cron job
Loan `loan_id`	Link → mfi.loan	Yes	Loan
Penalty Date `date`	Date	Yes	Penalty Date
Amount `amount`	Money	Yes	Amount
Type `penalty_type`	Choice: Late Payment, Early Repayment, Default, Other	Yes	Type
Status `state`	Choice: Pending, Paid, Waived	Yes	Status
Member `member_id`	Link → mfi.member	—	Member
Branch `branch_id`	Link → mfi.branch	—	Branch
Currency `currency_id`	Link → res.currency	—	Currency
Related Installment `schedule_id`	Link → mfi.loan.schedule	—	Related Installment
Paid `paid_amount`	Money	—	Paid
Balance `balance`	Money	—	Balance
Days Overdue `days_overdue`	Number	—	Days Overdue
Description `description`	Long text	—	Description
Waived By `waived_by`	Link → res.users	—	Waived By
Waiver Date `waiver_date`	Date	—	Waiver Date
Waiver Reason `waiver_reason`	Long text	—	Waiver Reason
Company `company_id`	Link → res.company	—	Company
Journal Entry `move_id`	Link → account.move	—	Journal Entry

Actions & buttons

Buttons available on this screen and what they do:

Waive

Status lifecycle

Records on this screen move through these statuses:

Pending → Paid → Waived

Notes & rules

Model: mfi.loan.penalty.
Basis: flat fee or % of overdue amount per product config.
Allocated ahead of interest and principal on repayment.
Waivers require authorisation and leave an audit trail.

Technical model: mfi.loan.penalty · Record: Loan Penalty