11i interest need to equal R12 Late charges

In 11i we used to generate statements monthly with interests for some customers and for others we were generated statements twice a month, each time interest where calculated.

In R12, the generation of late charges is separated from the issue of statements and we do not have any parameters where we could generate the interest for different customers profiles (statement cycles) so we have to calculated late charges for all our customers twice a month.

Here is an example of one customer interest calculation in 11i and R12.

The invoice of 1,000 is due by May 31, 2012. The payment is done June 18