Finance Charge Calculation Is Not Using The Latest Rate For Calculation (Doc ID 781042.1)

Last updated on SEPTEMBER 23, 2012

Applies to:

Oracle Receivables - Version 11.5.10.2 and later
Information in this document applies to any platform.
Information in this document applies to any platform.
Assign finance charge Accrue Finance charge

Symptoms

The finance charge rates change every quarter and the rate for the current quarter should be used to calculate Finance Charges accrued. The system is using the rate existing on the date of establishing the Receivable. 

Finance Charges are created through the Statement and/or Dunning Letter program.  Please see <Note 1349752.1> - Statement Generation Program (ARXSGP): Overview, Setup and Troubleshooting to review the correct setups and steps to create the finance charges.

Cause

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