Rates

When you set up a customer in the system, you create a contract for every service that you sell to the customer. The most important information specified on a contract is the rate. The rate controls:

How the service's charges are calculated.
How the charges appear aesthetically on the customer's bills.
How the general ledger is affected by the charges.

In this section, we explain how to set up your organization's rates.

Fastpath: Refer to How Rates Affect The Information On A Bill for how billing uses the information in a rate to calculate a bill segment.

Note: Not all contracts reference a rate. It's important to understand that you may have contracts that don't use a rate to calculate their charges. For example, you may have billable charge contracts that exist to bill a customer for charges that have been calculated in a foreign system. Whether or not a contract uses a rate and the list of rates that can be specified on a contract are controlled by the contract's contract type.