You can configure annual escalations to compensate for, among other things, annual inflation and service or technology cost increases.
Billdozer allows you to configure one of two types of annual escalations, i.e. to fall on:
- a Specific Month – January to December
- the Charge Anniversary – same date on which the charge/contract first started
Note: You can add multiple escalations, but only one can be assigned to a repeating invoice at a time. Configured escalations can be applied manually to repeating invoices (see About Repeating Invoices and How to Create a Repeating Invoice). You can also apply bulk escalation to existing contracts that currently do not make use of the escalation option (see Actions column below for more details).
By default, choosing the Escalations option displays the existing escalation (if configured) under the following headings:
- Actions – Click the Actions drop-down and choose Bulk update Repeating invoices if you want to apply this escalation to all contracts that currently do not make use of the escalation option.
- Interval – ANNUALLY
- Description – to describe the escalation, for example Annual Escalation Fee
- Percentage – the escalation percentage
- Escalate on – MONTH or ANNIVERSARY
- Escalation month – 1 – 12 (January to December)
- Click Accounting > Escalations to view the Contract Escalations screen.
- Enter a description in the Description field to describe the Escalation.
- Enter the percentage of the escalation fee in the Percentage field, for example 8.
- Choose either the Specific Month or Charge Anniversary option.
- Choose the month from the Month drop-down list if the Specific Month option was selected (see above).
- Click Save when complete to save the entered escalation information.
- Click Select > Edit Escalation in the Actions column next to the Escalation you want to edit.
- Click Edit, and edit the fields (see above).
- Click Save when complete to save the updated contract escalation information.
- Click the Delete Contract Escalation (trashcan) icon next to the escalation that you want to delete. The Delete Contract Escalation dialogue box is displayed.
- Click Yes to delete the selected escalation or No to abort the process.