This is Article 4 of 4 in the "Rate" Series

1. Rates: Overview
2. Rates: Rate Table Formats
3. Rates: Rate Hierarchy
4. Rates: Initial Rate Setup

Overview

Reviewing the fee structure used for rates at the property before completing the initial rate setup in RMS helps determine which rate setup features are most applicable and simplifies the setup process.

The following instructions can be used to create a simple standalone rate or the Best Available Rate in RMS.

For an introduction to rate concepts, components, and structures, see Rates: Overview.

Please Note! RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels, and Functions used in these articles may differ from your setup. CLICK HERE to find out more.

Before You Begin

Before setting up your first rate, ensure you have the following information ready:

• The rate name and charge description that will appear on the guest's invoice.
• The date range during which the rate will be available.
• The fee structure and pricing amounts.
• The categories or areas to which the rate will apply.

Step 1: Set Up a Rate Type

Go to Charts > Rate Manager in the side menu of RMS. 

1. Select the Rates and Rate Types.
2. Select Add.
   
    
3. Complete the Rate Type details:
   1. Optional: Enter a Rate Type Code.
   2. Select a Rate Structure.
   3. Enter a Rate Type Description.
   4. Enter a Rate Charge Description.
   5. Optional: Select a General Ledger Account Code.
   6. Enter a Long Description.
   7. Optional: Select a Rate Type Grouping.
   8. Optional: Select the checkbox for the required Rate Type options.
   9. Select Save/Exit.
      
       
4. Select the Rate Type Access and Apply/Exit. 
   
    

Step 2: Set Up a Rate Period

1. Select Rates and Rate Periods.
2. Select Add.
   
    
3. Complete the Rate Period details:
   1. Enter a Rate Period Description.
   2. Select a Date Range.
   3. Optional: Select a colour.
4. Select Save/Exit.
   
    

Step 3: Set Up a Rate Table

1. Select Rates and Rate Tables.
2. Select Add.
   
    
3. Complete the Rate Table details:
   1. Enter a Rate Table Description.
   2. Select a Rate Structure.
   3. Select a Format.
   4. Select a Based On.
   5. Enter the Person Base.
   6. Enter the Rate Amounts.
4. Select Save/Exit.
   
    

Step 4: Set Up a Rate Lookup

1. Select Rates and Rate Lookups.
2. Select Add.
   
    
3. Complete the Rate Lookup details:
   1. Select a Rate Structure.
   2. Select a Rate Type.
   3. Select a Category.
   4. Select a Rate Table.
   5. Select a Rate Period.
4. Select Save/Exit.
   
    

Additional Information

• The First Rate Type in RMS must be set up as the Best Available Rate.
• Selecting a General Ledger Account Code on the Rate Type will allocate all revenue for that rate to the selected account code instead of using the account code set on the category.
• The Rate Structure selected on the Rate Table will determine the available formats, and the selected Format will determine if a Based On selection is required.
• The Rate Lookup can only connect a Rate Type and Rate Table set up with the same Rate Structure.

Related Articles

This article is part of the Rates series:

• Rates: Overview - Rate concepts, components, structures, and Best Available Rate.
• Rates: Rate Table Formats - Daily, Extended Stay, Hourly, Nightly, and Per Guest formats.
• Rates: Rate Hierarchy - How RMS determines which rules apply.

Previous article: Rates: Rate Hierarchy