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Manually Calculating Interest for a Receipt

To manually calculate interest for a receipt:

1. Navigate to the Receipts window (Brazilian Oracle Receivables: Receipts > Receipts).

2. Query or enter the receipt to apply.

3. Enter the name or number of the customer who owns this receipt in the Customer Name or Number field if the receipt is unidentified.

4. Press the Applications button.

5. Enter the transaction to apply this receipt to in the Transaction Number field. The Amount Applied field displays the balance due for the transaction.

6. Navigate to the globalization flexfield. For instructions, see Using Globalization Flexfields.

7. The Main Amount Received field displays the amount displayed in the Amount Applied field. Change this amount to a partial amount if you want to calculate interest on a partial amount only.

8. Enter Total in the Base Interest Calculation field if you want to calculate interest based on the total invoice amount. Enter Partial if you want to calculate interest based on the amount entered in the Main Amount Received field, if this amount is less than the total invoice amount.

If you enter Partial, press the OK button to generate the interest calculation. The flexfield reopens automatically.

9. The Calculated Interest field displays the total interest due for the invoice. The Received Interest field displays the amount of interest received for this transaction. You can change the amount of interest received for this transaction.

10. If the received interest amount is less than the calculated interest amount, use the Interest Difference Action field to decide whether to write off the difference or generate an Interest Debit Memo.

11. If you enter Write-off, enter an explanation in the Write Off Reason field. If you enter Generate_IDM, Oracle Receivables automatically generates an Interest Debit Memo for the interest due.

12. Press the OK button.

13. If you press the Adjustments button, Oracle Receivables shows the adjustment with the calculated and received interest. The adjustment reflects if the customer paid more than the interest that is due.

14. Save your work.

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