Set up the Application FastTab
You can use the fields on the Application FastTab to specify the following settings:
Currency rounding tolerance
How payments are applied to outstanding amounts, including payments from customers and payments to vendors.
The Application FastTab contains the following fields:
Appln. Rounding Precision - Specifies the size of the interval for rounding differences for the local currency (LCY). This parameter takes effect when you apply the LCY entries to entries in a different currency.
Payment Disc. Tolerance Warning, Payment Disc. Tolerance Posting, and Payment Discount Grace Period - Complete these fields to allow tolerances on payment discount terms.
Payment Tolerance Warning and Payment Tolerance Posting - Complete these fields to close outstanding receivables and payables with payment amounts that differ from what is owed.
Payment Tolerance % - Enter the percentage that the payment or refund can differ from the amount on the invoice or credit memo.
Max. Payment Tolerance Amount - Enter the maximum amount that the payment or refund can differ from the amount on the invoice or credit memo.
To change the payment tolerance, follow these steps:
On the General Ledger Setup page, select Actions > Functions > Change Payment Tolerance.
Select the All Currencies checkbox if you want to use the same payment tolerance settings for local and foreign currencies.
Leave the Currency Code field blank if you want to set up payment tolerances for the local currency. In this case, you can set up tolerance settings for foreign currencies on the Currency Card page.
Enter a percentage in the Payment Tolerance % field.
Enter an amount in the Max. Payment Tolerance field.
Select OK to run the Change Payment Tolerance batch job.