Late Charges Are Incorrectly Calculated In-Between Monthly Runs when Payment is Applied and Un-Applied
Last updated on JUNE 20, 2016
Applies to:Oracle Receivables - Version 12.1.3 and later
Information in this document applies to any platform.
When a payment is applied and un-applied, in-between monthly executions of the Late Charges Process, the principal amount used for interest is incorrect. This causes the late charges to be incorrect.
Even though a payment is un-applied, it still remains on-account and should reduce the principal amount remaining due. However, when Late Charges are calculated, the principal amount remaining due is not reduced by the unapplied/on-account payment, and thus generates incorrect Late Charges.
Upgrade to R12.
Sign In with your My Oracle Support account
Don't have a My Oracle Support account? Click to get started
My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms