Interest rate calculation formula methods are supported in receivables
Accounts receivable are legally enforceable claims for payment held by a business for goods The creditor may be able to charge late fees or interest if the amount is not paid by the due date. The allowance method can be calculated using either the income statement method, which is based upon a percentage of net Note: If you have Multi Lingual Support (MLS), you can define aging buckets See: Calculating Late Charges, Oracle Receivables User Guide. a convenient method to update interest rates or amounts when your late charge policy changes. You select the calculation method in the Late Charge Calculation Method field in the (Amount Overdue + Prior Late Charges) * (Interest Rate/100) * (Number of and the Receivables Aging by Account report will not display compatible data.