How to calculate finance charges daily (Doc ID 93726.1)

Last updated on APRIL 17, 2017

Applies to:

Oracle Receivables - Version 11.5.9 to 11.5.10.3 [Release 11.5.9 to 11.5.10]
Information in this document applies to any platform.

Symptoms

In Oracle Accounts Receivables, how do finance charges get calculated?

Finance charges need to calculated daily for business purposes. Dunning letters were planned to be run everyday just to calculate finance charges.
For 100,000 customers this is a very time consuming job.

In Users Guide Release 11 page 5-57 states: 

You can calculate finance charges WITHOUT actually GENERATNG STATEMENTS by using statement sites.

To do this assign an appropriate statement cycle to your customer level profile, but set the send statements option to 'No' and the, calculate finance charges to 'Yes' for the customer sites".


In doing the above setup how does the finance charge gets calculated?
Do statements still have to run?

Cause

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