R12: AP: Unable to Close the AP Period due to a Paid Interest Invoice that Appears as Unaccounted on the Period Close Exception Report (Doc ID 2847783.1)

Last updated on JUNE 21, 2023

Applies to:

Symptoms

The AP period cannot be closed due to one unaccounted invoice: invoice number 'interest' reported on the Period Close Exception Report.

This invoice is an "INTEREST" invoice type and it was created as a result of late payment.

The interest invoices are automatically generated by Oracle Payables.

The actual interest expense account that gets transferred to General Ledger is derived from the Payables Options interest account setup after payment is accounted for.

Practically these interest invoices do not have any accounting entries generated in XLA tables and shouldn't be reported in the Period Close Exception Report.

The interest invoices aren't meant to be validated, accounted like a standard invoice for example.

STEPS
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The issue can be reproduced at will with the following steps:
1. Responsibility Payables Manager
2. Navigation: Menu > Accounting > Control Payables Period
3. Period Status > Change to Closed for Period Name ABC-22 > Save
4. The message appears:

5. The Period Close Exception Report shows the invoice number 'interest' under the Unaccounted Invoices section.

Changes

Cause