Follow

Dues Cycle: Entity Definition

Note that due to form customization options and different versions of the Cobalt Product, you may not have all the fields/options listed below.

Dues Cycle: Entity DefinitionMEMBERSHIP --- DUES CYCLES

 

 

 

GENERAL

  • Name - Name of the cycle.
  • Billing Year - Specifies the billing year for the dues cycle. 
  • Status - Status of the dues cycle. When creating a new dues cycle, this will auto-populate to Active
  • Default - One dues cycle must be the default for the system to evaluate dues properly.
  • Hide Orders on Portal - If set to yes, this dues cycle will not be displayed on the portal. This is the same as setting Publish to Portal = No on other records.

DEFAULT DURATION

These fields determine the duration of the membership that is updated as part of the membership renewal process.

  • Duration Type - This can either be dated or termed. Dated indicates that the expiration is fixed (e.g. December 31st of each year). Termed indicates that the expiration date will be set X years/months/weeks/days from the creation of the membership.
    • Dated
      • Begin Date - The date the cycle will begin.
      • End Date - The date the schedule will end.
    • Termed
      • Term - Numeric value for the term
      • Term Units - Length value for the term (Years, Months, Weeks, Days)
      •  For example, if you want the membership to be 12 months, you would enter 12 for term and select Months for  term unit. 

REVENUE RECOGNITION (COBALT 3.4+)

  • Schedule - Monthly or Quarterly. The number of records will vary based on the duration of the cycle.
  • Reconciliation
    • Even Split on Remaining Schedule --Split the amount paid over the remaining time in the duration. For example, if a person pays halfway through a year dues cycle, then 6 revenue recognition records will be generated for the amount due to be recognized over the next 6 months.
    • Upfront - Split the amount paid over the entire recognition duration and immediately recognize past record. For example, if a person pays halfway through a year dues cycle, then 12 revenue recognition records are generated and the first 6 months are recognized immediately as the "date recognized" will be in the past with 6 months remaining.

 

DUES SCHEDULES

  • Tool Bar to create and/or view Dues Schedules associated with the Dues Cycle. For more information about Dues Schedules click here. 
Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.
Powered by Zendesk