Defining Rate Versions
After defining general information about a rate on Rate Schedule Maintenance, you must link to it a rate version. The rate version defines the effective date of the calculation rules defined in its rate components. A rate schedule will have multiple rate versions if its calculation rules (i.e., its rate components) change over time.
A switch on the rate schedules controls what happens if multiple rate versions are effective during a bill period. When the system creates a bill segment for a service agreement, it checks if multiple rate versions are in effect during the bill period. If so, it uses the rate schedule's Allow RVs Proration switch and RV Selection Date flag to determine if it should prorate the various rate versions or if it should pick one of the rate versions effective during the bill period.
After a rate version exists, you add rate components to it using Rate Component Maintenance and/or Rate Version Merge. After you have added all necessary rate components, don't forget to return to Rate Version - Main and change the state of the rate version to Finished (otherwise, it cannot be used by billing).
The topics in this section describe how to setup a rate version.