Need to Be Able to Charge Late Charges OR Penalty Charges - The Greater Amount of One or the Other (Doc ID 2179266.1)

Last updated on MARCH 08, 2017

Applies to:

Oracle Receivables - Version 12.1.3 and later
Information in this document applies to any platform.

Symptoms

Is it possible, through Late Charges set ups, you can charge the greater of interest or penalty charge.

For Example:
Unpaid invoice amount = $1,000
Interest charges of 6.9% = $69
Penalty charge fixed amount = $75

Instead of charging both interest and penalty, you would like to charge the greater amount. In this case, $75 charge, but not both $75 & $69. 

Cause

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