Use the Generate Late Charges program to calculate late charges according to your organization's defined late charge policy. See: Setting Up Late Charges.
You can submit this program in Draft mode to create a batch of draft late charges that you can first review. To review each batch, use one of two methods:
Review the Late Charges report, which the Generate Late Charges program automatically creates during program submission. This report outlines the draft or final late charges that were created. See: Late Charges Report.
Review the batch of late charges online using the Late Charges Batches window.
After reviewing the batch, you can modify your late charge policy if required, and then run the program in Final mode to create permanent late charges. Or, you can use the Late Charges Batches window to modify batch details and generate the final charges. See: Reviewing Late Charge Batches.
If your late charge policy generates late charges as interest invoices or debit memos, then the Invoice API creates the late charges. If your late charge policy records late charges as adjustments, then the Adjustment API creates the late charges.
Once created, the charges are available for inclusion on statements and dunning letters. You can review final late charges in both the Late Charges Batches window, as well against each charged customer's account.
Later, when your customers send payment for late charges, AutoLockbox records such payments as overpayments and, if you are using Oracle Trade Management, creates an invoice-related claim. You can optionally implement a manual process in which your receivables department applies these overpayments or claims to late charges.
Operating Unit: Select the operating unit that you want to create late charges for. Leave this parameter empty to calculate late charges for all accessible operating units and for all customers in those operating units.
Location: If you specify a customer, then you can limit late charge calculations to a specific site.
GL Date: Receivables uses this date as the GL date for the newly created interest invoice or debit memo, or as the adjustment date for the newly created adjustment
Late Charge Date: Receivables uses this date as the "as of" date during late charge calculations.
Currency: Receivables creates late charges for any transaction whose currency matches this selection.
Mode: Select Draft if you wish to preview the charges. Otherwise, select Final.
Number of Parallel Workers: Enter the number of parallel workers you want to use to run this program. Parallel processing lets you split the program into several processes and run each process simultaneously thus decreasing the total run time of the program.