Introduction
When you need to end a fee agreement, you have two options:
Terminate the agreement immediately (EOD today's date),
End agreement on a custom date (date of your choice)
In the latter choice, the system will help you determine the end date(s) that make sense for each fee within the agreement to ensure a smooth termination process.
How to End a Fee Agreement
Follow these steps to clone a fee agreement:
Navigate to a Location
Select the Agreement to End
Find the agreement you wish to End.
Click on the agreement to open its details.
End the Agreement
Click on the three dots next to the 'Save' button and click 'Modify Agreement End Date'
A prompt will appear with options to end the agreement.
Choose a Method to End the Agreement
Select one of the following options:
Terminate Agreement Immediately
The agreement will end today at 11:59pm local time. Current open payments will schedule and process in accordance with the fee agreement unless otherwise held on the payment details page. Please note, flat fees will not be prorated if the end date occurs mid-billing cycle.
Terminate Agreement on a Custom Date
On the next screen, you will be prompted to choose the end date for each of the fees in your agreement. The end date of the overall agreement will automatically end on the date of the latest fee’s end date.
If 'Terminate Agreement on a Custom Date' is the option selected, the next screens will allow you to chose the end date for each fee within the agreement independently. This is especially useful if the fees within your agreement have different cadences (i.e. weekly / monthly) and a single end date for all fees in the agreement may not be ideal.
Note: The dates circled in purple indicate days that coincide with the end of the fee's billing cycle. In the example below, the fee is a weekly recurring revenue fee that beins on Mondays and ends on Sundays. Therefore, each Sunday is highlighted should you want to choose to end the fee in alignment with the fee cadence.
Review and Save
Review the details of the fees ending within the agreement.
Click 'Continue' to save the revised end date on your agreement.
Conclusion
Ending 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 agreement is 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