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Suspend Late Charges for Several Months due to current Economic Situation

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edited Jun 8, 2020 7:43PM in Receivables & Collections 3 comments

Summary

Goal – Suspend late charges for all customer accounts for a defined number of months. When processing resumes, the charges should only be for the current period.

Content

E.g. – Suspend late charges from 03-01-20 through 09-30-20.   Process late charges 10-31-20 – Maximum number of days charged would be 31 if a customer has not paid anything during October.

I am thinking we are not the only organization that is looking at this scenario.  I wanted to start a discussion and share what I have tried so far.  Looking for guidance from Oracle on how to accomplish our goal.

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