Before setting up proration schedule templates, an institution must first have charge schedule templates, transaction codes, and asset types configured.
Multiple proration schedules can be linked to the same charge schedule. This allows institutions to set up schedules for different purposes. For example: An institution may want to use one schedule during the first 10 days of a term and another schedule for the remaining days of the term.
A proration schedule’s Start and End dates control when the schedule is available for use. To allow proration to be calculated for an early start or late end, the proration schedule’s date range should include the earliest start date and the latest end date.
ResCenter automatically calculates prorated charges or credits when a contract is manually created or modified. Users can control whether these charges/credits are generated immediately or later. If the Prorate Automatically institution setting is enabled in Odyssey HMS (Tools > Institution Settings > Contracts tab), the prorated charges/credits will be generated automatically through the Process Contract Items batch function or task.