Rental Rates and Methods - Revision history

Jgullickson: /* Bulk Updating Rental Rates */

2018-07-16T18:15:51Z

Bulk Updating Rental Rates

Jgullickson: /* Daily Rental */

2017-01-11T12:53:55Z

Daily Rental

Jgullickson: /* Daily Rental */

2017-01-11T12:53:37Z

Daily Rental

Jgullickson at 15:58, 28 October 2016

2016-10-28T15:58:30Z

Jwolbert at 03:54, 21 June 2016

2016-06-21T03:54:37Z

Jwolbert: /* Customer-Specific Rates */

2016-05-24T19:24:09Z

Customer-Specific Rates

Jwolbert: /* Daily Rental */

2016-04-04T19:31:04Z

Daily Rental

Jwolbert: /* Daily Rental */

2016-04-04T18:38:45Z

Daily Rental

Jwolbert: /* Tiered-Rate Rental */

2016-04-01T12:36:17Z

Tiered-Rate Rental

Jwolbert: /* Rental Rates */

2015-10-07T13:24:15Z

Rental Rates

← Older revision		Revision as of 18:15, 16 July 2018
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	== Bulk Updating Rental Rates ==		== Bulk Updating Rental Rates ==
		+	'''There is a defect in this page regarding Rental Brackets. Do not use this for bracket rate updates as it will result in duplicated rates. You may request access to the tool for informational reporting or updating standard or client specific rates.''

	Most companies review and make global changes to their rental rates on a periodic bases. TrackAbout's '''Bulk Update Rental Rates''' tool, can help you through this process.		Most companies review and make global changes to their rental rates on a periodic bases. TrackAbout's '''Bulk Update Rental Rates''' tool, can help you through this process.

@@ Line 93: / Line 93: @@
 ** Assets Tied Up will revert to "End of Day" if the rental method is set to Monthly rather than Daily.
 ** Assets Tied Up will also revert to "End of Day" in the case of a monthly lease.  If there is a monthly lease in place for the Rental Class or Asset Type, Assets tied up will not override the lease.  The Lease will still apply even if the rent days, as calculated by Assets Tied Up, exceeds the lease period for that month.
-**''More on Assets Tied Up'': This means that on days exchanges are made, it is not the final balance that is billed on those days but the total number of assets that was tied up for the transaction.  For instance, if the asset balance is 1 and an exchange (1 for 1) is made, the asset balance for the day of the exchange is actually 2.  In this scenario, assuming one exchange for the month in December, you would actually have 32 total rent days for the product code.
+**'''More on Assets Tied Up''': This means that on days exchanges are made, it is not the final balance that is billed on those days but the total number of assets that was tied up for the transaction.  For instance, if the asset balance is 1 and an exchange (1 for 1) is made, the asset balance for the day of the exchange is actually 2.  In this scenario, assuming one exchange for the month in December, you would actually have 32 total rent days for the product code.

@@ Line 93: / Line 93: @@
 ** Assets Tied Up will revert to "End of Day" if the rental method is set to Monthly rather than Daily.
 ** Assets Tied Up will also revert to "End of Day" in the case of a monthly lease.  If there is a monthly lease in place for the Rental Class or Asset Type, Assets tied up will not override the lease.  The Lease will still apply even if the rent days, as calculated by Assets Tied Up, exceeds the lease period for that month.
-**''Example'': If the lease is for 30 days, but through Assets Tied up, 31 days are calculated, the customer will not incur rent.  The lease will still hold.
+**''More on Assets Tied Up'': This means that on days exchanges are made, it is not the final balance that is billed on those days but the total number of assets that was tied up for the transaction.  For instance, if the asset balance is 1 and an exchange (1 for 1) is made, the asset balance for the day of the exchange is actually 2.  In this scenario, assuming one exchange for the month in December, you would actually have 32 total rent days for the product code.

← Older revision		Revision as of 15:58, 28 October 2016
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	\|}		\|}
	[[Category:Rental]]		[[Category:Rental]]
		+
		+	== Bulk Updating Rental Rates ==
		+
		+	Most companies review and make global changes to their rental rates on a periodic bases. TrackAbout's '''Bulk Update Rental Rates''' tool, can help you through this process.
		+
		+	Navigate to '''Bulk Update Rental Rates''' through the TrackAbout Config website menu or through the Quick Search Box.
		+
		+	Updating existing rental rates is completed in a 4 steep process:
		+
		+	# Download existing rates in Excel format
		+	# Edit and update the rate file
		+	# Select your updated Excel file to be uploaded
		+	# Import the updated rates
		+
		+	Bulk Update Rental Rate will allow you to update all existing rates at the Standard, Bracket, and Customer Specific levels.
		+
		+	The tool is also useful simply as a report. Download the Rate file from Step One to see your current rates.
		+
		+	This tool is available to any customers who subscribe to TrackAbout’s Rental module.

← Older revision		Revision as of 03:54, 21 June 2016
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		+	{{TrackAbout Feature
		+	\|Parent Module=Rental
		+	\|Feature Description=Set up List and Special pricing for items rented through TrackAbout.
		+	}}
	[[Rental\|<< Back to Rental Module]]		[[Rental\|<< Back to Rental Module]]

@@ Line 44: / Line 44: @@
 :[[File:CustDetailView_RentalRates.jpg|border]]
-Clicking on Create New or Edit Details for Customer-Specific Rates opens a screen which has a "Review Rates On" date field. This is the date by which the rates should be checked. This is not an expiration date. If the date passes the rates will continue to be in effect. This "Review Rates On" date is the date by which someone should review the rental rates. The idea is that periodically the rates should then either have their ‘"Review Rates On" date extended or these customer-specific rates should be removed. TrackAbout is currently developing a report which will list all the Customer-Specific Rates which are set to be reviewed within a selected time frame.
+==== Review By Date ====
 ===Tiered-Rate Rental===

@@ Line 79: / Line 79: @@
 ''Note, the notes below do NOT deal with Equipment Rental. See the [[Equipment Rental]] section for more info''
-Daily rental is calculated based on a Customer’s asset balance for each day of the rental billing period. A Customer’s daily asset balance can be determined one of several ways:
+Daily rental is calculated based on a Customer’s asset balance for each day of the rental billing period. A Customer’s daily asset balance can be determined one of several ways.  These are called '''Rental Bill Calculation Methods''':
 * Start of Day - Use asset count from the start of the day.
 * End of Day - Use asset count from end of the day.
 * Max of Start and End of Day - Use the largest number of the first two options.
 * Assets Tied Up - Use count of assets that the Customer had for any fraction of the day. Therefore, Customers would be charged for both assets on the day of an even exchange.
-''Example''
+''General Rental Calculation Example''
 Here is an example that might clarify the above options:

@@ Line 48: / Line 48: @@
 ===Tiered-Rate Rental===
 NOTE: By default, this feature is ''NOT'' enabled. <br>
-Tiered-Rate Rental allows rental rate assignment based on tiers. As an example, a cylinder Rental Class may have a rate of $55 for customers with an asset count between 0 and 2, another rate of $50 for an asset count between 3 to 10 and a final tier of $44 for 11 assets or more. <br>
-Tiered Rates can be created and applied at all levels, i.e. Standard, Bracket, and Customer Specific Rates. <br>
+Tiered-Rate Rental allows allows you to charge different rates for the same product depending on volume.  Best practice is that you would charge customers a lower rental rate when they’re renting greater quantities of assets from you.
-The rates page displays current default rates and then can be overridden by the new desired/custom rate. <br>
 If you do not want to use Tiered Rates, no changes are needed on your part. However, the capability is available on your system to use anytime you wish. Contact TrackAbout Support to enable this rental-rate model.<br>
 <br>
 ===Audit Trail of Rate Changes===

@@ Line 2: / Line 2: @@
 ==Rental Rates==
 ===Standard Rates===
 Standard Rates are intended to be the List Prices for rental. This is typically the most that any customer would be charged for rental. By default, new customers will fall into the Standard-Rates-table rates until they are moved to a Rate Bracket or they have Customer-Specific Rates added for them.
@@ Line 55: / Line 45: @@
 Clicking on Create New or Edit Details for Customer-Specific Rates opens a screen which has a "Review Rates On" date field. This is the date by which the rates should be checked. This is not an expiration date. If the date passes the rates will continue to be in effect. This "Review Rates On" date is the date by which someone should review the rental rates. The idea is that periodically the rates should then either have their ‘"Review Rates On" date extended or these customer-specific rates should be removed. TrackAbout is currently developing a report which will list all the Customer-Specific Rates which are set to be reviewed within a selected time frame.
 ===Audit Trail of Rate Changes===