Rates Management is a system used to categorise and maintain monetary rates for chargeable production actuals. It further allows custom definition of queries to retrieve and break-down those actuals, record-by-record to determine the correct monetary rate for each. It processes and stores this information for reporting purposes.
Different rates can be applied by definable lower and upper actual-value thresholds and date range periods. The Rates Process calculation engine ensures the correct rate is applied to individual records.
Different types of rates can be used, such as variable, fixed and manual.
There are four parts to the rates management process, which are:
The setting up of the rates within the MiiNT interface.
Note: Rates can only be setup by a MiiNT Administrator or users who have been granted access to Rates Management and Configuration on the Navigation Menu. When a user creates a new rates category their user group is automatically assigned to that rates category.
The process of assigning rates to production data.
Note: A user will only be able to assign rates for categories that they have been granted access to.
The process for managing manual rates.
The process for managing manual costs.