Create appropriate rate schedules and their components to calculate the charges appropriately.
If you are defining P&I rules using the base BO C1-MonthlyChargePIRule, you need a rate schedule with rate components that calculate the charge by applying an appropriate percentage to the calculation basis passed in using the RQI defined above. If a Not to Exceed amount is applicable, there should also be a maximum rate component that adjusts the calculated charge based on the Not to Exceed amount.
The following are some additional notes related to the setup of this rate:
The charges are not expected to prorate for short or long periods. To accomplish this, an appropriate frequency must be configured for the rate schedule. Because the P&I rule is expecting to apply monthly charges, the frequency may be set to have 1 period annually and 365 days for the minimum and maximum offset. Refer to the demonstration data for an example.
The individual rate components should all be set as follows:
FCPO is checked
The Result Type is Charge
Rounding Precision is set to the maximum allowed to ensure that the maximum calculation precision is returned.
Create Bill Line is checked
FCPO Retention Rule is set to Retain amount on bill line
To support calculation details , appropriate description on bill values should be populated and the Print flag checked.
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