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
.Description of Page
Enter a unique Frequency ID and Description for each frequency.
The remaining fields impact proration in your rates.
Periods Per Year indicates how often the charge on the rate is calculated. This information is used to calculate the number of days in a given period by dividing the standard number of days in a year (365) by this number.
Offset for Minimum Days indicates the number of days to subtract from the standard number of days to determine a low end of the proration range.
Offset for Maximum Days indicates the number of days to add to the standard number of days to determine a high end of the proration range.
If the current period is outside of the calculated range, then the value is prorated.
Where Used
Every Rate Schedule must have a frequency. Refer to Rate Schedule - Main for more information.
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