You begin to define a rate factor by selecting Menu, Rates, Rate Factor.
Description of Page
Enter a unique Rate Factor code and a Description for the rate factor.
Rate Factor Type is set to Regular.
Enter a Currency Code to define the currency in which the rate factor's charges are denominated. This field will be gray if the rate factor is referenced on a rate component.
Select the Value Type to define the kind of value maintained by this rate factor. The Value Type options are:
Charge |
The value maintained in this rate factor is a fixed amount (e.g., a flat charge). |
Percentage |
The value maintained in this rate factor is a percentage. |
Unit Rate |
The value maintained in the rate factor is a charge per rate quantity. |
This field will be gray if the rate factor is already referenced on a rate component or if the rate factor already has values.
Turn on Error If No Value if the system should create a billing error when a rate factor value doesn't exist for the characteristic value linked to the taxpayer.
Tax Exemption, Value In Contract Term and Contract Rider Applicability are not currently used by the system.
The proration information tells the system how to handle changes to rate factor values that may occur during a taxpayer's bill period. Turn on Allow Proration if changes to the rate factor's value should be prorated. If changes should not be prorated, indicate the Rate Selection Date to use when the system retrieves rate factor values; available options are:
Accounting Date |
The rate factor value effective on the bill segment's accounting date will be used. |
Bill End Date |
The rate factor value effective on the end date will be used. |
Bill Start Date |
The rate factor value effective on the bill segment's start date will be used. |
Rate Factor Tree
The right half of this page is dedicated to a tree that shows the rate factors characteristics and their respective values. You can use this tree to both view high-level information about these objects and to transfer to the respective page in which an object is maintained by using the available Go To buttons.
Where Used
Many types of Rate Components may use a Rate Factor to define the amount being charged. Refer to Rate Component - Main Information for more information.
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