The following configuration settings can be set for each Rental Class:
This is set by product or by Group in the expanded rate
structure detail of Rental Inventory and
in Equipment Groups, where an hourly rate
to be expensed for maintenance can be entered in the Maintenance
Provision field for each rate code.
When invoices for this equipment at this rate are posted in the Daily Close, a Debit is then posted to the Maintenance Expense account and a Credit is posted to the Maintenance Provision Liability account as setup in the Product Class.
Note: If your firm does not use maintenance provision postings a "Suspense" account can be assigned to both these fields as the debit and credit postings will net zero.
Maintenance Provision Overview explains the utilities to enter and to post manual maintenance provision postings, by product, division, and date. Reports and inquiries are also provided to review existing and unbilled maintenance provision amounts.
The Invoice Rate Window for Rentals flag in the Divisional Rate Parameters can be set so that the
rate window for rental charges opens automatically on Miscellaneous Invoices and Quotations.
The rental period information provided in this window is necessary
in order to generate maintenance provision postings by the hourly
rate.
Selling Price Table =================== Age Cost Factor --- ----------- 0 1.50 12 1.00 18 .50 24 .25e.g. A Rental product that was under 12 months old would be sold for a Selling Price of the Average Cost * the Cost Factor of 1.5
Note: The Selling Price formula for used equipment by Product Class, only applies to Non-Bulk Rental Equipment with an Average Cost and with a Date Acquired on the Fixed Asset Tag.
Alternatively, window to enter a desired Margin Amount to be used to calculate the Markup %, as outlined in Markup Based on Margin Calculator.
Uncheck this box if this product class does not represent re-rent products.
Note: Availability checking for Rental equipment in a Re-rent Product Class does not apply even if that equipment belongs to a Group flagged to require availability checking, and the availability column in the results of an Inventory Search show as AVAIL.
Non-bulk products in a Re-rent Class cannot be assigned a 'Resource URL' in the Maintain External Resource URL utility.
For more information on this discount feature refer to the Trade Discounts.
Uncheck this box to prevent Rental Discounts from being given on
any products in this Product Class.
This causes Customer discounts to be ignored and prevents manual
discounts to be given on a document.
Rental products included as part of a Kit
will always be given any discount defined in the kit to allow
"bundled" pricing by kit, but will not be given any customer
discount.
Note: This flag does NOT apply when a product is given a Time Based Discount, or when a split billing invoice is generated.
The ability to disallow discounts can also be set for specific rate levels in Special Rate Codes.
For more information on this feature refer to the Reward Program Maintenance.
Check this box if products in this class that have a replacement cost, should be included in the value total sum at Contract entry, that is compared to the customer's Rental Value Limit.
Uncheck this box if equipment in this class should not be included in the Rental Value Limit checking.
The Company Security Parameters control
how the Rental Value Limit is utilized on the Contract, including
whether to permit or prevent a customer from going over his
personal Rental Value Limit, and what the allowable percent should
be by which the customer can exceed his Rental Limit before he is
actually prevented from doing further rentals of value controlled
equipment.
Refer to Customer Information for details
on how the Rental Value Limit can be utilized.
Uncheck this box if there should be no restriction and both Cash and On Account customers should be allowed to rent equipment in this class.
Note: This flag is respected in rental documents and in invoices.
Uncheck this box if there should be no restriction preventing rental equipment in this class from being sold.
Uncheck this box if products in this class should not allow a
zero quantity on Counter Worksheet,
Quotations, and Reservations.
This is the default setting in rental Product Classes.
Check this box to allow non-bulk products from this class to be
entered with a zero quantity on Counter
Worksheet, Quotations, and Reservations.
If an item still has a zero quantity when the document is converted
to a contract then that line item is omitted from the new
contract.
Note: Non-bulk rental products and serialized sales parts must always have a quantity of 1 or -1, regardless of the Product Class flag.
Uncheck this box if a P.O. should not be generated when rerent products in this class are entered on a contract.
Check this box if the operator should have the ability to create
a Purchase Orders for re-rental equipment
(bulk or non-bulk) in this class from a Contract as explained in Contract/Purchase Order Link Overview.
Define the following two G/L Accounts for processing an Accrual
transaction from the P.O./Contract Accrual
Report.
This Interest Expense account defaults from the Class Defaults when a class is created, and can be
over-typed as required for each class.
Refer to Asset Financing for information on the Debit and Credit postings that are generated.
The "Texada Web Auto Close" flag for Work Orders in the Status Code Actions By Group window controls the ability to automatically close a Work Order for non-bulk rental equipment to an Internal repair when the Work Order is completed on a Texada Web Mobile device, if the product has a Status that is configured to auto-close and if there is a valid Repair Charge code defined for the Product Class.
Enter a Repair Charge code if products in this class should be
eligible for this "auto-close to a repair" processing, or select
one from the drop-down box, as setup in Repair
Charge Code.
This Repair Charge code also becomes the default code when repairs
are processed manually in Close Internal Work
Orders.
Note: If this field is left blank, and there is a blank code in Repair Charge Code then products in the class become eligible for this processing.
Hours rented is always determined by hours billed on each contract when the invoice is posted through Daily Close 2, but for scheduling maintenance by the number of days rented, the conversion from Hours to Days can be based on 12 or 24 hours of actual usage.
This parameter controls the maintenance schedule default that
can be changed in document entry in Contracts, Reservations,
Quotes, and Worksheets.
Select one of:
The Maintenance Rental Period can be captured for each
non-bulk product detail in the Select
Maintenance Rental Period Hours window on each contract to
calculate when the product is due for Type 1 maintenance as defined
in the Maintenance Schedule.
If there is no 12/24 value reported for the contract, the value in
the Rental Product Class is used.
A default Buffer value can be setup for each Repair Maintenance Code, but this Class specific Buffer value would over-ride that default for products in this class.
For complete details on the setup and use of this feature, refer to Maintenance Due Causing Warn/Block on Rental.
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