Need to Be Able to Charge Late Charges OR Penalty Charges - The Greater Amount of One or the Other
Last updated on MARCH 08, 2017
Applies to:Oracle Receivables - Version 12.1.3 and later
Information in this document applies to any platform.
Is it possible, through Late Charges set ups, you can charge the greater of interest or penalty charge.
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.
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