Configuring Rate Code Financial Details

Editing Rate Code Financial Details

1. From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.

2. Enter search criteria and click Search.

3. From search results, select the rate code and click vertical ellipsis, select Edit.

4. Click Financial Details and complete the following

   1. Transaction Code. Select the accommodation revenue transaction code.

      1. When the Revenue Posting by Room Type/Room Class OPERA Control is active select an accommodation transaction code per room type. See Configuring Multi Transaction Code Rate Codes.

      2. Tax (Generate) Inclusive. Click the indicate that the pricing schedule rate amounts are inclusive of taxes. If unchecked taxes are posted additional to the price.

   2. Package Transaction Code. Select the package wrapper transaction code ; if configuring a package rate code (inclusive of package items)

   3. Commission Code. Select a commission code from the list. This commission code overrides the commission code selected in a Travel Agent profile. 

   4. Commission %. Enter a commission percentage (up to 99.99) which is used by GDS systems to determine the commission that is applicable when booking this rate code. (This value has no effect on the calculation of commissions in OPERA Cloud)

   5. Currency Code. Select a currency code from the list. Pricing schedules will be loaded in this currency. (Available when the Multi-currency OPERA Control is active)

      1. Exchange Type. Select an exchange type from the list (Available when alternate currency code is selected) to determine what exchange rate should be used for accommodation charges

         1. Fixed at Check In. Exchange rate fixed at check in date

         2. Fixed at Reservation. Exchange rate fixed at reservation creation date

         3. Current Date. Exchange rate for current business date / posting date 

         4. Fixed at Block. Exchange rate fixed at date when block is opened for pickup.

   6. Folio Text. Enter text to display on guest folio for rate code posting. Text entered here overrides the accommodation transaction code description.

      1. Manage Translations. Click to add translation for folio text for when generating folio in the profile language.

   7. Deposit Maturity. Select a value from the list to indicate when any deposit payment should transfer to guest ledger. (Available when the Advance Deposit Maturity and Allocation OPERA Control is active)

   8. Print Rate. Select to default the Print Rate checkbox in reservations Stay Details. The reservation Print Rate flag controls the output of the rate amount on stationery such as confirmations and registration card.

   9. Suppress Rate. Select to have the rate amount displayed with strike-through formatting in OPERA Cloud, for example . Used for confidential rates that must not be quoted to a caller. Available when the Suppress Rate OPERA Control is active.

   10. Discount. Select to allow the rate amount to be discounted on a reservation on ad-hoc basis. Discount Amount, Discount Percentage and Discount Reason fields are enabled in reservation stay details when this rate code is selected.

   11. Day Use. Select to indicate the rate code is for 0 night stays.

   12. Complimentary. Select to indicate the rate code is for complimentary stays. OPERA Cloud will track reservations booked with a complimentary rate for statistical purposes.

   13. House Use. Select to indicate the rate code is for internal/administration stays. OPERA Cloud will track reservations booked with a house use rate for statistical purposes.

   14. Negotiated. Select checkbox to indicate that this rate code is only available as a negotiated rate that must be associated with a guest, company, source or travel agent profile. Available when the Negotiated Rates OPERA Control is active. For more information, see Managing Profile Negotiated Rates

   15. Tax Inclusive: Select check box to indicate the rate amounts (pricing schedule) setup for this rate is inclusive of taxes.

   16. Membership: Select check box to indicate this rate code can be selected in Membership Rate Groups for reference in membership point calculation rules 

   17. Day Type. Select to enable the day type pricing schedule adjustments. (Available when the Day Types OPERA Control is active). See Configuring Day Types

5. Click Save.