Introduction
Cloning a fee agreement can be a vital tool when you need to make adjustments to an existing agreement without starting from scratch. This feature ensures continuity and accuracy in your payment cycles. When you clone a fee agreement, you have three options for applying the cloned agreement:
Future payments only
Open and future payments
Pending, open, and future payments
The system will automatically manage the start and end dates of the agreements to maintain sequential payment cycles. This article will guide you through the process of cloning a fee agreement.
Why Clone a Fee Agreement?
Cloning a fee agreement is beneficial when you need to:
Adjust the terms or conditions of an existing agreement.
Extend the duration of the agreement.
Apply new rates or fees while maintaining historical records.
How to Clone a Fee Agreement
Follow these steps to clone a fee agreement:
Navigate to a Location
Select the Agreement to Clone
Find the agreement you wish to clone.
Click on the agreement to open its details.
Initiate the Cloning Process
Click on the three dots next to the 'Save' button and click 'Clone Agreement'
A prompt will appear with options for the cloned agreement.
Choose the Application Scope
Select one of the following options:
Future payments only: The cloned agreement will apply to all billing cycles that have not yet opened.
Open and future payments: The cloned agreement will apply to both open (current, ongoing) billing cycles and future payments.
Pending, open, and future payments: The cloned agreement will apply to pending (not yet processed), open, and future payments.
Review and Save
Review the details of the cloned agreement.
Ensure that the start and end dates are correct.
Confirm to finalize the cloning process.
Automatic Date Adjustments
To ensure seamless transitions and accurate payment cycles, the system will automatically adjust the dates as follows:
The end date of each fee within the original agreement will end in accordance with the selection you chose in the clone agreement prompt.
The start date of the fees on the cloned agreement will be set to the day after the end date of the fees on the original agreement.
The end date of the orignal agreement will be set to the end date of the fee that ends farthest in the future.
This automatic calculation prevents any gaps or overlaps in payment cycles, ensuring that the sequence remains intact.
Conclusion
Cloning a fee agreement is a straightforward process that helps you make necessary adjustments efficiently. By following the steps outlined above, you can ensure that your fee agreements are updated accurately and applied to the correct payments. This feature not only saves time but also reduces the risk of errors in your payment cycles.
* This feature is available to brand admins only