Details tab for Transaction Rate Sheet

Updated by Cheryl Wallace

Fields on this tab include:

Part Number

Rates are set for each part number, not each item, to ensure consistency.

Description

Displays the read-only description of the part.

Locked

If not checked, manual and mass updates are allowed for rates for this part.

Hourly

The rental rate charged for an hour. Only available for serialized and bulk part numbers.

Daily

The rental rate charged for a day. Only available for serialized and bulk part numbers.

Weekly

The rental rate charged for a week. Only available for serialized and bulk part numbers.

Monthly

The rental rate charged for a month. Only available for serialized and bulk part numbers.

Idle Hourly

The idle rental rate charged for an hour. The idle status must be toggled on and off manually either for a single item or multiple items according to criteria.

Idle Daily

The idle rental rate charged for a day. The idle status must be toggled on and off manually either for a single item or multiple items according to criteria.

Idle Weekly

The idle rental rate charged for a week. The idle status must be toggled on and off manually either for a single item or multiple items according to criteria.

Idle Monthly

The idle rental rate charged for a month. The idle status must be toggled on and off manually either for a single item or multiple items according to criteria.

Minimum Charge

Enter the minimum rental charge.

  • For Serialized part numbers is applies to the entire duration of the rental
  • For Bulk part numbers this applies to the rental period in the billing cycle

Maximum Charge

Use the Maximum Charge to cap charges.

Enter the maximum rental charge:

  • For Serialized part numbers is applies to the entire duration of the rental and is cumulative. Once the maximum is reached, no further rent will be charged.
    Example: An item is issued in September 1st, 2022 with and partial billings are run at each month end. If the Monthly rate is 50 and the Max Charge is 175, charges will be calculated as follows:
    • September 30 - $50
    • October 31 - $50
    • November 30 - $50
    • December 31 - $25 Calculated as 175-(50+50+50)
    • January 31 - $0
    • subsequent months until the item is returned - $0
  • For Bulk part numbers this applies to the rental period in the billing cycle. This is renewed and recalculated each rental period.
    Example: Three of the same part number are together on issued September 1st, 2022, two are returned on November 30th, and partial billings are run at each month end. If the Monthly rate is 10 and the Max Charge is 20, the charges will be calculated as follows:
    • September 30 - $30 Calculated as 3 x 10
    • October 31 - $30 Calculated as 3 x 10
    • November 30 - $30 Calculated as 3 x 10
    • December 31 - $10 Calculated as 1 x 10
    • January 31 - $10 Calculated as 1 x 10. Note that the Max Charge is never reached within the billing period.

Initial Charge

The amount charged separate from any time-based rental. This amount is automatically triggered as soon as the item is issued, regardless if it is returned immediately. This can be used as a setup, configuration, or other special fee unrelated to the duration of the rental. The initial charge is applied with the first charge (partial billing or return). If the first charge is 0 for the rental, the initial charge is still applied.

Selling Price

The price to charge when an item is sold. This is required to bill for consumable and non stock parts. If this value is left at 0, consumable and non stock parts can only be used for manual charges.

Average Cost

The average cost displayed on the part number's General tab. Useful as a reference when adding or editing rates manually or when using Update Rates.

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