To create an Interest Invoice in Oracle Fusion:

To create an Interest Invoice in Oracle Fusion:

• Created automatically by payables, for the amount of interest calculated on the overdue amount of an original invoice, for the overdue period.
• These types of invoices cannot be created manually.

Steps to Create Interest Invoice

1. Enable “Create Interest Invoice” at invoice options
2. Set “Create Interest Invoice” at Supplier site level
3. Define interest rates
4. Create an invoice with the past date and payment terms as immediate
5. Payment with today’s date
6. The system creates an interest invoice

Step 1:

Enable “Create Interest Invoice” at invoice options

Navigation: Setup and Maintenance –> Financials –> Payables –> Manage Invoice Options

Step 2:

Set “Create Interest Invoice” at Supplier site level

Step 3:

Define interest rates

Navigation: Setup and Maintenance –> Financials –> Payables –> Manage Interest Rates

Step 4:

Create an invoice with the past date and payment terms as immediate

Step 5:

Payment with today’s date

Navigation: Navigator–> Payables –> Payments –> Create payment

Step 6:

The system creates an interest invoice