Exchange rates allow the handling of multiple currencies and the automation of converting from one currency to another when generating rating usage data and generating invoices. This is used when rating usage and generating invoices for accounts where the Allow Pricing in Different Currency attribute is enabled and the Pricing Currency grid is populated with currencies other than the Invoice Currency attribute such as the screenshot below:
Default Prices - Last line of rates used by the system if no pricing plans or rate classes are in effect.
Rate Classes - A collection of revised rates of products that can be used to later create pricing plans for customers. All pricing plans can be based upon rate classes. This can save a lot of time if a lot of customers use similar pricing, and only a few need variations. Please follow the link for more information.
Contract Rates - Contracts allow you to refine the pricing of existing products in the system relative to what you want to take effect to the customer.
How BillingPlatform Determines Price - Illustrates and explains the rating flow and expands on the hierarchy described above.