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.

Penalties
Penalties — live screen from the BridgeERP MFI Suite.

Workflow

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

Fields reference

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

FieldTypeRequiredDescription
Auto-Generated
is_auto
Yes/No—Generated by automated cron job
Loan
loan_id
Link → mfi.loanYesLoan
Penalty Date
date
DateYesPenalty Date
Amount
amount
MoneyYesAmount
Type
penalty_type
Choice: Late Payment, Early Repayment, Default, OtherYesType
Status
state
Choice: Pending, Paid, WaivedYesStatus
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

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