Late Fees Set to "Charge By Invoice" are Charging by Balance When Using Interest Tier
Last updated on AUGUST 27, 2014
Applies to:Oracle Receivables - Version 12.1.3 and later
Information in this document applies to any platform.
Attempting to generate Late Fees and the system is calculating the overdue balance incorrectly.
This is calculating Late Fees on an incorrect amount.
The Charge Schedule is based on a defined Interest Tier.
Steps to Reproduce:
1. Invoice is created for May 1st and not paid.
You run Late Charges on May 16th -- this works fine 5% charged
2. Invoice gets a partial payment after May 16th - ie. on May 20th
You run Late Charges on May 31st -- this works 1.5 % is charged
3. A NEW Invoice is created June 1 and no payment is made.
You run Late Charges on June 16th -- the overdue amount is not correct for this ONE invoice
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