Rental Period on Document


System Maintenance Menu -> Configure System Settings -> System -> Company & Divisions -> Division Invoice Parameters -> Rental Period Description on Document explanation

The Rental Period Description can be printed on rental documents. including the invoices, contracts, reservations, and quotations.
This is controlled for the contracts, reservations, and quotations by the Print Rental Period flag in the Division Contract Parameters and for invoices by the Print Rental Period flag in the Division Invoice Parameters.

The period description that is printed in based on the calculated total hours out of the product.

Total Hours Out = Hours Out - Hours Off This Billing

From the Total Hours Out, the number of months, number of weeks, number of days and number of hours are calculated.

When the rental period is less than one day but the item is billed the daily amount, the Show Rent Period 1 Day If Less Than 1 Day & Daily Rate Used flag in the Company Customer Forms controls whether a One day rental period is printed on the document as the Rental Period for the item or whether the partial day period is printed.
This feature applies to Jasper Invoices/Contracts/Quotes/Reservations and Plain Paper Invoices.

Note: Exceptions could occur due to Pro-rating or Over-time hours as controlled by the Rental Product Class.

The number of months is only returned if the Cycle Bill Interval in the Rental Product Class is monthly, otherwise the largest denominator is weeks.

If there are hours remaining (i.e. the total hours don't work out to an exact day) and the class prorate setting is not a 'Half Of Daily', then the hours remain as they are.
If the Rental Product Class is set to Prorate Half Of Daily then Hours is set to zero and days are rounded up by a half or full day using the following formula:

If OT Hours In A Day is zero, then Prorate Factor = 1
If OT Hours In A Day is not zero, the Prorate Factor = Hours Remaining / OT Hours In a Day
If the Prorate Factor is greater than zero but less than 1, the days is increased by 0.5 days.
If the Prorate Factor is greater than 1, the days is increased by 1 day.

Examples:
If Prorate = N, OT Hours = 0, calendar is set to 24hrs in a day, product is out 26 hours: Description will be: 1 day, 2 hours
If Prorate = H, OT Hours = 0, calendar is set to 24hrs in a day, product is out 26 hours: Description will be: 2 days
If Prorate = H, OT Hours = 4, calendar is set to 24hrs in a day, product is out 26 hours: Description will be: 1.5 days
If Prorate = H, OT Hours = 0, calendar is set to 24hrs in a day, product is out 2 hours: Description will be: 1 day
If Prorate = H, OT Hours = 4, calendar is set to 24hrs in a day, product is out 2 hours: Description will be: 0.5 days
If Prorate = H, OT Hours = 2, calendar is set to 24hrs in a day, product is out 2 hours: Description will be: 1 day

Note: If the calendar is not set up with hours in a day/week/month, only the hours are returned and the above calculations are ignored.
If the rate is the company Seasonal Rate Code as defined in Company Rate Parameters, the hours are returned and the above calculations are ignored.


Topic Keyword: RentalPeriod
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