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Creating a Proration Policy
To create a proration policy:
- Click the Proration Policies tab.
- Click New or New Proration Policy.
- Enter a proration policy name.
- Select the Automatically Assign to New Contracts checkbox if you want this proration policy to be assigned to new contracts by default. See Using a Default Proration Policy for more information. You cannot select this checkbox for more than one proration policy.
- Choose the calculation method for the proration policy.
- Select Set Final Period to Remainder from First if you want Billing Central to adjust a contract line item's final period value to be the residual amount from the first period. See Adjusting Final Period Value to Remainder from First Period for more information.
- Click Save.
For information about how to assign a proration policy to a contract, see Assigning a Proration Policy to a Contract and Assigning a Proration Policy to Multiple Contracts.
Using a Default Proration Policy
Selecting the Automatically Assign to New Contracts checkbox on a proration policy makes that the default policy. If you do set a proration policy as the default, note that:
- When creating a new contract, the default proration policy is assigned unless you select an alternative.
- If a new contract is created automatically from an opportunity and there is no field mapping for the Proration Policy field, or there is a field mapping but it is left blank on the opportunity, the default policy is assigned.
- When creating a renewal or change request, the proration policy on the existing contract is copied to the new contract. The default is not assigned.
- When editing a contract, if you change or delete the value in the contract's Proration Policy field your edit persists. The default is not assigned.
If you do not set a default proration policy, the Proration Policy field is not completed automatically for new contracts.
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