To define the rate attributes of a PSL element

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<This topic is in draft form only - it has been constructed solely from the corresponding requirements documentation and supporting use cases>


The procedure to define the rate attributes of a PSL element is as follows:

  1. Navigate to Quick Menu > Rents > Configuration > Rent Element. The Element Details window is displayed.
  2. Expand a classification heading from the alphabetical list and select an associated PSL rate element, or type its name into the Search Elements field. By default the list is filtered to show Current elements. An alternative filter can be applied using the Select view drop-down field: Expired, Future or All combinations 1.
  3. Click on Rates. The Rates tab is activated.
  4. Click on New Rate. The Element Rate window is displayed.
  5. Enter a Value for the element rate into the field provided i.e. the fee that will be levied for the PSL rate element. The Up and Down arrows are available to increment or decrement the value, as required.
  6. Using the Frequency drop-down field, select a parameter value appropriate for the element rate e.g. Daily, Weekly, Fortnightly, Calendar Monthly, etc.
  7. Enter the Last review date for this element rate i.e. the date on which a review of the lease fee was last conducted.
  8. Enter the Next review date for this element rate i.e. the date on which the next review of the lease fee is scheduled.
  9. Choose an Effective from date for this element rate i.e. the date on which it came into effect 2.
  10. Choose an Effective to date for this element rate, as required i.e. the date on which it expires, or to capture a change of circumstances; a blank field means the lease fee will be continually valid.
  11. Click on Confirm 3. The element rate is displayed in the Rates summary table 4.
  12. Click on Save 5.


Note

1 The Search Elements field will match against any component of the PSL rate element description.

2 The Effective from date defaults to the current system date and cannot be left blank.

3 The Updated by and Updated date fields are automatically populated with the end user account creating the new record and current system date respectively.

4 Only one element rate can exist for the same payment frequency at any one time; where overlapping Effective from and Effective to dates are detected, the user will be asked to affirm expiration of the previous record.

5 To amend the rate attributes of an existing PSL element, double-click on the desired row in the Rates summary table and repeat steps 5 through 12.


See related topics...

PSL rate element maintenance overview

To create a new PSL rate element

To clone a PSL rate element