Companies are able to perform rate changes to active RMR. RMR may be increase by a dollar amount or by a percentage. Using the Rate Change program provides the ability to perform what-if scenarios before making any final changes to the current RMR rate.
To perform or test an RMR Rate Change, from the main menu, arrive at the Rate Change page with this path: Accounts Receivable> RMR.
The RMR page will be displayed. Click on the New Rate Change button at the upper right of the page.
The New RMR Rate Change page will be displayed. The items listed in the grid are all active RMR records. On this page you will select which RMR records you want to rate increase. Using the column filters will help narrow down the list of which RMR’s you want to rate change.
In our example below, we filtered on the Item Code column and selected just the Monitoring item. We also filtered on the Monthly column and selected where the amount equals $30.00. At the bottom of the page will be a count of RMR’s which met the filter criteria. You may filter on multiple columns to arrive at the desired list of potential RMR’s to increase.
If you want to rate increase all records in the grid, check the Select All checkbox at the upper left of the page. If only certain records are to be increased, check the box to the left of each RMR to be included, and then click the Next Step: Set Rate Change button at the bottom of the page.
The Set Rate Change page will be displayed. At the upper left of the page are three fields that require user input.
- Amount or Percent? – Select the Percent method. Percent means you are increasing the RMR by a percentage rate.
- Rate Change – Enter the percentage for the rate change.
- Reason – Select the appropriate Recurring Reason code for the rate change.
Once the information is filled in, the grid will populate with the Old amount, the New amount, and the Change amount.
If there is a very long list of RMRs eligible for the rate change and you want to review this prior to applying the new rates, click on the Export to Excel button. If you find that there are some RMRs on the list you want to exclude from the rate change, click on the Previous Step button, and deselect the checkbox of the RMRs to remove from the list. After changes have been made, click on the Next Step: Set Rate Change button at the bottom of the page.
You will need to once again fill in the Set Rate Change fields. If you are satisfied with the RMRs to rate change, click the Apply Rate Change button at the bottom of the page. When the process finishes, the RMRs selected will display the new rate.
