The Rate Code Extensions screen displays, as shown below.
From the Rate Code Extensions screen, you can perform the following:
· Define membership product length, grace months, and pay frequency (see below)
· Define membership product renewal options
· Adding a subscription benefit to a membership product
To define a membership product length, grace months, and pay frequency:
1. On the Rate and Pricing screen, click Rate Code Extensions.
The Rate Code Extensions screen displays, as shown below.
2. From the Membership section, perform the following:
a. Enter the membership Length in Months.
This number defines the end date of the term. For example, if you enter “12” here, this is a 12-month membership. The end date of the term is automatically calculated. Revenue Recognition will override the time entered here. Defaults to 12 months.
b. Enter the membership Grace Months.
This is the number of months that is typical for continuing member benefits prior to cancelling a membership for non-renewal. This value defaults based on the membership structure, but can be overridden.
c. Select the Pay Frequency from the drop-down.
This is the time frame the customer must pay for the membership. For example, "Invoice" indicates the customer must pay immediately and "Monthly" indicates the customer can pay on a monthly schedule. If "Monthly" is selected, the order is automatically created with a monthly payment schedule but can be overridden on the Order Entry screen. Values in this drop-down are populated based on the fixed codes defined for the MBR "PAY_FREQUENCY" system type.
For more information on payment schedules, please see Working with Payment Schedules.
3. Click Save.
4. For more information on the Renewal Control section, please see Defining Membership Product Renewal Options.
5. For more information on the Subscription Benefits section, please see Adding a Subscription Benefit to a Membership Product.