There are several methods of increasing RMR covered in detail in the Knowledge Owl found here: https://sedonaoffice.knowledgeowl.com/help/company-rate-change. While the articles are in-depth, here are some cliff notes while on the call:
- Company Rate Changes cannot be undone, either in the program or by data.
- It is our strongest recommendation that they test rate changes in their Sandbox before completing them in the Production environment.
- It is our strongest recommendation that they complete a backup of their database before they do the rate change.
Common Pitfalls of the Rate Change Process
When completing a rate change, two common issues arise.
- The first is misunderstanding the difference between Percentage, Flat, and Fixed increases.
- Percentage – This will adjust the RMR by a percentage. If you input 10%, this will increase or decrease the selected RMR lines by 10%.
- Flat – This will increase or decrease the RMR lines by the amount listed. If you input 1.00$, it will increase or decrease the RMR by 1.00$ from its current value.
- Fixed – This will adjust all RMR lines that are beneath the threshold to the selected value. If you input 10$ as an increase, this will bring any account under 10$ to the 10$ value. If you do the same as a decrease, this will reduce any line over 10$ to the 10$ value.
- The other common pitfall is not including a lock-out date. If you do not specify a time frame for exclusion, then when you do a rate increase, someone who’s already been increased will be increased again. This is not strictly speaking required, but it’s a protection against mistakes and should be considered by the user when being completed.
