Configuring Rate Code Financial Details

Editing Rate Code Financial Details

From the Administration menu, select Financial, select Rate Management, and then select Rate Codes.
Enter search criteria and click Search.
From search results, select the rate code and click vertical ellipsis, select Edit.
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 check box to 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 Ability to Quote Rates in Foreign Currencies 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 Translation: Click link to configure localized descriptions. For more information, see Configuring Localized Code Descriptions. (Available when the Multi-language OPERA Control is active.).
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 check box to default the Print Rate checkbox in reservations Stay Details and Block Details. The Print Rate check box in Stay Details determines if the price (rate amount) is output on stationery such as the registration card and confirmation.
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. Only users with the View Suppressed Rate Details task assigned are able to view the rate amount details. (Available when the Suppress Rate OPERA Control is active).
10. Discount: Select check box to allow the reservation price (rate amount) to be discounted on ad-hoc basis. Discount Amount, Discount Percentage and Discount Reason fields are enabled in reservation stay details when this rate code is selected. (Available when the Reservation Discount OPERA Control is active).
11. Day Use: Select check box to indicate the rate code is for 0 night stays.
12. Complimentary: Select check box 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 check box 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. Owner Rate: Available when the Identify Owner Rate OPERA Control is active. Select check box to identify the rate code as an Owner Rate Code. No Show reservations with an owner rate code are not updated to No Show status during End of Day; instead, the arrival date is automatically updated to the next day. The Rolling No Show Preference OPERA Control determines whether the Arrival Date is updated until the departure day (default) or updated to the day prior to the departure day.
16. Point (Award) Redemption: Select check box to indicate the rate code is eligible for selection in awards. For more information, see Configuring Membership Type Awards.
17. Membership: Select check box to indicate this rate code is considered a qualified rate for reference in membership point calculation rules.
18. Day Type: Select check box to enable the day type pricing schedule adjustments. (Available when the Day Types OPERA Control is active). For more information, see Configuring Day Types.
Click Save.

Rate Code Posting Rhythms

Select the Posting Rhythms tab to setup a "Free nights based on length of stay" promotional rate code. FOr more information, see About Rate Code Posting Rhythms.
1. Posting Rhythm: Select Do Not Post Every X Night from the list.
  1. Nights: Enter a number for the specific posting rhythm which will define how many days a guest must stay before the rate amount will post as 0.00.
  2. Post Packages: Select to post package charges and allowances on the 'free nights' .

Advanced Rate Code Posting Rhythms

Select the Posting Rhythm tab to setup "Buy X Nights, Get Y Nights Free" promotional rate code when the Advanced Rate Code Posting Rhythm OPERA Control is active. For more information, see Configuring Advanced Rate Code Posting Rhythms.
Click Save.

Parent topic: Configuring Rate Codes