diff --git a/mifosng-provider/src/main/java/org/mifosplatform/scheduledjobs/service/ScheduledJobRunnerServiceImpl.java b/mifosng-provider/src/main/java/org/mifosplatform/scheduledjobs/service/ScheduledJobRunnerServiceImpl.java
index c9d7ff4c4..f3367d66f 100644
--- a/mifosng-provider/src/main/java/org/mifosplatform/scheduledjobs/service/ScheduledJobRunnerServiceImpl.java
+++ b/mifosng-provider/src/main/java/org/mifosplatform/scheduledjobs/service/ScheduledJobRunnerServiceImpl.java
@@ -180,19 +180,19 @@ public class ScheduledJobRunnerServiceImpl implements ScheduledJobRunnerService
             StringBuilder updateSqlBuilder = new StringBuilder(900);
 
             updateSqlBuilder.append("INSERT INTO m_loan_paid_in_advance(loan_id, principal_in_advance_derived, interest_in_advance_derived, fee_charges_in_advance_derived, penalty_charges_in_advance_derived, total_in_advance_derived)");
-            updateSqlBuilder.append("select ml.id as loanId,");
-            updateSqlBuilder.append("SUM(ifnull(mr.principal_completed_derived, 0)) as principal_in_advance_derived,");
-            updateSqlBuilder.append("SUM(ifnull(mr.interest_completed_derived, 0)) as interest_in_advance_derived,");
-            updateSqlBuilder.append("SUM(ifnull(mr.fee_charges_completed_derived, 0)) as fee_charges_in_advance_derived,");
-            updateSqlBuilder.append("SUM(ifnull(mr.penalty_charges_completed_derived, 0)) as penalty_charges_in_advance_derived,");
-            updateSqlBuilder.append("(SUM(ifnull(mr.principal_completed_derived, 0)) + SUM(ifnull(mr.interest_completed_derived, 0)) + SUM(ifnull(mr.fee_charges_completed_derived, 0)) + SUM(ifnull(mr.penalty_charges_completed_derived, 0))) as total_in_advance_derived");
-            updateSqlBuilder.append("FROM m_loan ml ");
-            updateSqlBuilder.append("INNER JOIN m_loan_repayment_schedule mr on mr.loan_id = ml.id ");
-            updateSqlBuilder.append("WHERE ml.loan_status_id = 300 ");
-            updateSqlBuilder.append("and mr.duedate >= CURDATE() ");
-            updateSqlBuilder.append("GROUP BY ml.id");
-            updateSqlBuilder.append("HAVING (SUM(ifnull(mr.principal_completed_derived, 0)) + SUM(ifnull(mr.interest_completed_derived, 0)) +");
-            updateSqlBuilder.append("SUM(ifnull(mr.fee_charges_completed_derived, 0)) + SUM(ifnull(mr.penalty_charges_completed_derived, 0))) > 0.0");
+            updateSqlBuilder.append(" select ml.id as loanId,");
+            updateSqlBuilder.append(" SUM(ifnull(mr.principal_completed_derived, 0)) as principal_in_advance_derived,");
+            updateSqlBuilder.append(" SUM(ifnull(mr.interest_completed_derived, 0)) as interest_in_advance_derived,");
+            updateSqlBuilder.append(" SUM(ifnull(mr.fee_charges_completed_derived, 0)) as fee_charges_in_advance_derived,");
+            updateSqlBuilder.append(" SUM(ifnull(mr.penalty_charges_completed_derived, 0)) as penalty_charges_in_advance_derived,");
+            updateSqlBuilder.append(" (SUM(ifnull(mr.principal_completed_derived, 0)) + SUM(ifnull(mr.interest_completed_derived, 0)) + SUM(ifnull(mr.fee_charges_completed_derived, 0)) + SUM(ifnull(mr.penalty_charges_completed_derived, 0))) as total_in_advance_derived");
+            updateSqlBuilder.append(" FROM m_loan ml ");
+            updateSqlBuilder.append(" INNER JOIN m_loan_repayment_schedule mr on mr.loan_id = ml.id ");
+            updateSqlBuilder.append(" WHERE ml.loan_status_id = 300 ");
+            updateSqlBuilder.append(" and mr.duedate >= CURDATE() ");
+            updateSqlBuilder.append(" GROUP BY ml.id");
+            updateSqlBuilder.append(" HAVING (SUM(ifnull(mr.principal_completed_derived, 0)) + SUM(ifnull(mr.interest_completed_derived, 0)) +");
+            updateSqlBuilder.append(" SUM(ifnull(mr.fee_charges_completed_derived, 0)) + SUM(ifnull(mr.penalty_charges_completed_derived, 0))) > 0.0");
             
             int result = jdbcTemplate.update(updateSqlBuilder.toString());
 
diff --git a/mifosng-provider/src/main/resources/META-INF/spring/scheduler.xml b/mifosng-provider/src/main/resources/META-INF/spring/scheduler.xml
index 03411a951..744fb9447 100644
--- a/mifosng-provider/src/main/resources/META-INF/spring/scheduler.xml
+++ b/mifosng-provider/src/main/resources/META-INF/spring/scheduler.xml
@@ -6,11 +6,6 @@
     You can obtain one at http://mozilla.org/MPL/2.0/.
 
 -->
-<!--
-    This Source Code Form is subject to the terms of the Mozilla Public
-    License, v. 2.0. If a copy of the MPL was not distributed with this file,
-    You can obtain one at http://mozilla.org/MPL/2.0/.
--->
 <beans xmlns="http://www.springframework.org/schema/beans"
 	xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
 	xsi:schemaLocation="http://www.springframework.org/schema/beans http://www.springframework.org/schema/beans/spring-beans.xsd">
@@ -23,6 +18,10 @@
 		class="org.mifosplatform.scheduledjobs.UpdateLoanArrearsAgeingScheduledJob">
 		<constructor-arg ref="scheduledJobRunnerService" />
 	</bean>
+	<bean id="updateLoanPaidInAdvanceScheduledJob"
+		class="org.mifosplatform.scheduledjobs.UpdateLoanPaidInAdvanceScheduledJob">
+		<constructor-arg ref="scheduledJobRunnerService" />
+	</bean>
 	<bean id="applyAnnualFeeForSavingsScheduledJob"
 		class="org.mifosplatform.scheduledjobs.ApplyAnnualFeeForSavingsScheduledJob">
 		<constructor-arg ref="scheduledJobRunnerService" />
@@ -43,6 +42,14 @@
 		<property name="targetMethod" value="execute" />
 		<property name="concurrent" value="false" />
 	</bean>
+	
+	<bean id="updateLoanPaidInAdvanceJobDetail"
+		class="org.springframework.scheduling.quartz.MethodInvokingJobDetailFactoryBean">
+		<property name="group" value="mifosJobs" />
+		<property name="targetObject" ref="updateLoanPaidInAdvanceScheduledJob" />
+		<property name="targetMethod" value="execute" />
+		<property name="concurrent" value="false" />
+	</bean>
 
 	<bean id="applyAnnualFeeForSavingsJobDetail"
 		class="org.springframework.scheduling.quartz.MethodInvokingJobDetailFactoryBean">
@@ -61,7 +68,13 @@
 	<bean id="updateLoanArrearsAgeingJobDetailCronTrigger"
 		class="org.springframework.scheduling.quartz.CronTriggerFactoryBean">
 		<property name="jobDetail" ref="updateLoanArrearsAgeingJobDetail" />
-		<property name="cronExpression" value="0 10 22 1/1 * ? *" />
+		<property name="cronExpression" value="0 1 0 1/1 * ? *" />
+	</bean>
+	
+	<bean id="updateLoanPaidInAdvanceJobDetailCronTrigger"
+		class="org.springframework.scheduling.quartz.CronTriggerFactoryBean">
+		<property name="jobDetail" ref="updateLoanPaidInAdvanceJobDetail" />
+		<property name="cronExpression" value="0 5 0 1/1 * ? *" />
 	</bean>
 
 	<bean id="applyAnnualFeeForSavingsJobDetailCronTrigger"
@@ -76,6 +89,7 @@
 			<list>
 				<ref bean="updateLoanSummariesJobCronTrigger" />
 				<ref bean="updateLoanArrearsAgeingJobDetailCronTrigger" />
+				<ref bean="updateLoanPaidInAdvanceJobDetailCronTrigger" />
 				<ref bean="applyAnnualFeeForSavingsJobDetailCronTrigger" />
 			</list>
 		</property>