Persisting Interest Rate for Rate Type Price Items

While defining a price item, you can indicate whether the price item is available for pricing and billing or only for pricing. If the price item is available only for pricing, you can indicate the type of the price item. The valid values for the price item type are:

• Rate (i.e. Interest Rate)

• Fees

If the type of a price item is Rate, the system calculates and persist the rate for the price item. The rate is persisted only for the price item pricing which is either assigned or inherited by an account. If the account or person attributes are changed, the system allows you to recalculate and persist the interest rate for rate type price items. This process is known as Repricing.

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