Defining Frequency Codes

When you create a rate schedule, you must enter a code defining the frequency in which the charges are expressed, e.g., monthly, quarterly, biannual, etc. To set up frequency codes, open Admin > Frequency.

Description of Page

Enter a unique Frequency ID and Description for each frequency.

The remaining fields impact proration in your rates.

If the current period is outside of the calculated range, then the value is prorated.

Note: Overriding the system's standard proration logic. If the standard proration logic does not satisfy your requirements, you may plug in an override proration algorithm to calculate the proration factors as required by your implementation. For example, a company may treat a year as having 360 days rather than 365 days. Such a company would need to develop an override proration algorithm and plug it on the Installation record.

Where Used

Every Rate Schedule must have a frequency. Refer to Rate Schedule - Main for more information.