Bills Maturity and Risk Program Not Considering Collection Days for Receipt
(Doc ID 1496578.1)
Last updated on FEBRUARY 20, 2018
Applies to:Oracle Receivables - Version 12.1.3 and later
Information in this document applies to any platform.
Running the Bill Receivables Maturity and Risk Program. The receipt is created with a RECEIPT_DATE matching MATURITY_DATE.
Receipt should be created with a receipt_date of maturity_date + collection days as setup in Remittance Class Bank Account.
The issue can be reproduced at will with the following steps:
1. Create a Signed Type of Bill with Issue date of 21-Jun-12 and maturity date of 23-Jun-12
2. Accept the Bill on 22-Jun-2012
3. Create Remittance on 22-Jun-2012 (Same as Acceptance Date) - The Remittance Class has a bank attached where the collection days is set as 2 days.
4. Run the Bills Maturity and Risk Program with 'Effective Date', 'GL Date' and 'To Maturity Date' as 23-Jun-2012.
A receipt is created with the receipt_date matching the maturity_date.
The BR cannot be collected before the maturity date and at the same time bank need some amount of time i.e., collection days to collect the money from the date of remittance. We need to take into account these two factors for arriving at the receipt date. The logic for the receipt date should be as follows:
If the Remittance Date plus Collection Days is less then or equal to the maturity date then the receipt date will be equal to the maturity date. The reason being that BR cannot be collected before the maturity date. If the Remittance Date plus Collection Days is greater then the maturity date then the receipt date will be equal to the Remittance Date plus Collection Days. Reason being that money can only be collected in Remittance Date plus Collection Days even though the maturity date has passed.
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!