1.2.4.2 Specifying the Basis Amount and the Charge Currencies

The Charge Currency is the currency in which the flat amount charge in a contract is to be reckoned.

When building a charge rule, if the Rate Type is a Flat Amount, you have to indicate the currency of the charge or fee. The charge or fee when applied on a transaction is collected in this currency. The input to this field can either be the local currency or the contract currency. By default, the Charge Currency is the Transaction Currency. You can change it to the local currency.

The amount itself is specified subsequently through this screen. This amount can be changed during contract processing.

Example

If the Charge Currency is specified as the local currency and the flat amount is 500, for all contracts involving this Rule ID, an amount of LCY 500 is applied.

If the Charge Currency is specified as the contract currency and the flat amount is 1000; for a bill in US Dollar involving this Rule ID, an amount of USD 1000 is applied, for a contract in Great British Pound involving this Rule ID, an amount of GBP 1000 is applied, and so on.

Charges or fees can be calculated for a transaction on the basis of tiers or slabs. When building a charge rule, you should also indicate the currency of the tiers or slabs based on which you levy the charge. This is the Basis Amount Currency. If the transaction is in a different currency, then the charge is calculated after converting it to the currency of the tiers and slabs.