Rate Type - Rental and billing

The list of ways a rent or a service charge can be priced: per month, per square foot, or per unit consumed.

When to use it

Once, when the rental side is set up. The supplied list already covers everything the billing knows how to price, so you will rarely come back here.

You need rights to create masters.

Masters > Rental > Rate Type.

Field (on screen)	What to enter	Required
Code	Short code for this basis. A tenancy can only use PSQFT (per sq ft), PM (per month) or PU (per unit).	No
Rate Type	Name of the rate basis as it appears when picking one, such as Per Month or Per Square Foot.	No

Each entry is a short code and a name. The code is what a tenancy or a service actually stores, so once it is in use you must not change it.
The rate type decides how a bill line is worked out:
- Per Month: the agreed figure is charged once for the month. A part month is charged in proportion to the days covered.
- Per Square Foot: the rate is multiplied by the shutter's area. A part month is again charged in proportion to the days covered, and shows as a reduced area so the line still multiplies out.
- Per Unit: the rate is multiplied by the consumption the meter recorded. A metered line is never reduced for a part month, because the meter already measured only what was used.
On a Tenancy the choice is limited to those three. On a Service it is not, so you can pick something the billing cannot price.
When billing meets a rate type it does not recognise, it stops that line instead of guessing. Anything outside per month, per square foot and per unit does that, Per Annum included.

Do not rename or re-code an entry that is in use. Tenancies and services store the code, not the name, so changing it breaks their pricing.
Adding an entry does not add a new way of pricing. A new code is only a label until billing knows what to do with it, so check before you use one on a live tenancy.
If a billing run stops on one customer, check the rate type on their services first.