Late Charge, Incorrect Interest Days Calculated Invoice Due Date Falls In Middle Of The Month
Last updated on MARCH 08, 2017
Applies to:Oracle Receivables - Version 12.1.3 and later
Information in this document applies to any platform.
The Late Charges calculates incorrect interest days when the Invoice Due Date falls in middle of the month.
If the Invoice Due Date is in middle of the month, such as 15th June, and the Late Charge Generation is run on 30th June (last day of the month), the interest days shows as 29 days, instead of 30 days. Due to this, there is an incorrect charge calculated.
You need to calculate interest on period basis i.e Monthly.
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