Product/Group Special Rates

Inventory Control Menu -> Rental Inventory -> Rental Information -> Special Rates window -> Product/Group Special Rates

Inventory Control Menu -> Rental Inventory/Inventory Inquiries -> Rental Information -> Special Rates window -> Product/Group Special Rates

Utilities Menu -> Inventory Control -> Rates/Costs/Prices -> Update Rental Information -> Special Rates window -> Product/Group Special Rates

Special Rates can be setup for seasonal pricing or to allow special rental rates for customers who get preferential rates or special deals only on certain items.
For example, tables, and table skirting may be rented at a less than standard rate to selected Mall merchants for a Sidewalk Sale that expires at a certain date.

This table can be used to build the rate structure for the Product or Group.

This Special Rate method uses a straight dollar amount over-ride on the Rate to be charged for each applicable rate code.
To use a discount percent of the rate to calculate the Special Rate, refer to Rates Discounts.

The basic rules for both Special Rate by Discount and by Dollar over-ride options include:

• Security
  The operator can only update Special rates according to the operator's Security Role Permissions as follows:
  • If the Operations - Special Rate Codes is checked all special rates can be viewed and modified in this table including all divisions.
  • If Operations - Special Rate Codes role permission is not checked but the Operations - Division Special Rate is checked, the operator can still view all Special Rates and the associated drill down windows, but can only modify the Special Rates for his Division, and only if there is a quantity On Hand for the product at his Location as defined in the Operators.

• Determining the Rate Structure
  Special rates can only be setup for a Rate Code if a standard rate structure already exists for the product that includes that Rate Code.
  e.g. Daily, Weekly, etc
  This is because the Special rates table uses the To Hours and the Rate Hours values from the existing rate structure for each Rate Code.
  

  If the Rental Inventory has no rates at all then the Group standard rate structure can be used to determine those values for the Rate Code at the product level Special rate too.

  If the Group To Hours and Rate Hours were initially used to setup product Special rates, and later any standard rates were added at the product level, then the Group defined Special rates become invalid and are displayed in red to alert the operator that they no longer will apply.

  Note: If the standard rate structure is changed on a product/Group on which Special rates have been based, then any new values for To Hours and Rate Hours will be reflected in the Special Rates table as well.

This Rates window is triggered after the Product or Group has been added or selected, and the Special Rate Level Code has been added or selected, with the following prompts:

PRODUCT# or GROUP#

The selected product number and description, or Group number display with the description.
The description is prefaced by the Group number if the rates were based on the Group rate structure instead of the product rate structure.

Invalid rate records for the product or group are displayed in red text with a Description of Invalid

PRODUCT COST

This information applies only to specific products and does not apply to Groups.
This field respects the Company Inventory Parameter to Display Cost In Product Quantity Inquiry that controls whether the product cost is not displayed, or is displayed on the screen, or can only be viewed by clicking the icon.

RENTAL CAP

This information applies only to specific products and does not apply to Groups.
This prompt only applies if the Rental Cap processing has been activated in the Company Rate Parameters.
This is a maximum amount to be charged on a rental for this product that can be set in the Rental Information window for each product.

Specific customers and sites can be set to not utilize the rental cap in the "Additional Info" windows of Customer Information and Customer Site Information.

Click on the icon to enter a Rental Cap for this Special Rate.

Rate Details
The following rates fields details can be added, modified or deleted as required:

SEQ

The sequence number tracks the records in the table.

CODE

Enter a rate code for this product/Group or select one from the drop-down list.

• Group:
  The drop-down list displays only the existing rate codes for this Group.
  
• Product:
  The drop-down list displays only the existing rate codes for this product or if the product has no rate structure defined, then the Group rate codes are displayed and can be used.
  However if at any point any standard rates are setup for the product, then the special rates based on the group rate codes become invalid.

Note: If any existing Rate Codes for the product or Group are not assigned a special rate, then the standard rate will be applied for that code.

DESCRIPTION

The selected rate description will display.
e.g. Daily, Weekly, Monthly.

Invalid Special Rate Records:
Invalid rate records for the product or group are displayed in red text with a Description of 'Invalid'.

Rates become invalid if they have been deleted in the standard rate structure of the Rental Inventory or Group but still exist in this Special Rates table.
Product Special rates based on the Group rate structure also become invalid if there are any standard rates defined later at the product level in Rental Inventory.

By drilling down to the Special Rates for that Level in Special Rate Codes, the rate table will be rebuilt and the invalid records will be removed.

TO HOURS

The cut-off number of hours after which this rental rate no longer applies is displayed, and cannot be modified as this value is defined by the current product or group standard rate structure.

Note: If the standard product or group To Hours is changed for this rate level, the special rates To Hours is also changed.

RATE HOURS

The number of hours per time period is displayed and cannot be modified as this value is defined by the current product or group standard rate structure.

Note: If the standard product or group Rate Hours is changed for this rate level, the special rates Rate Hours is also changed.

RATE

The standard rental rate will display. Over-type with the special rate.

Note: Special rates can only be setup if there is an existing standard rate for the product or Group for that same Rate Code, as the Special rates table uses the To Hours and the Rate Hours values from the existing standard rate structure.

Unique Rate Structure Setup:
The Suppress 0 Rates On Document parameter in the Company Rate Parameters can be used to allow two different rate structures for the same product or group to be maintained, using Special Rates.
Refer to Company Rate Parameters for setup and examples.

BASE RATE

Enter the Base Rate for the Rate code.
For details on Base Rate processing refer to the notes in Rental Information for Rental Equipment.

BASE HOURS

The number of hours per time period for the Base Rate is displayed and cannot be modified.

Expanded Special Rates Detail

Click EXP/CON or press <F9> to expand and access the Meter rate information for Non-Bulk Rental Products that have Meter reading or Blade usage, and to access the New Rate information, as follows:

METER INCLUDED

Enter the number of meter or blade units included with the rental of this product, for this special rate code.
If the meter units at Rental Return are less than this meter allowance, there is no meter charge.

RATE

Enter the over-time rate per meter or blade unit.

MAINTENANCE PROVISION RATE

Optional maintenance provision postings can be generated to reflect a maintenance expense in the G/L as a portion of the rental revenue.

Leave this field blank if NO maintenance provision postings are required for this rate code, or enter an hourly rate to be charged at this rate code level for maintenance.
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 Rental Product Classes.

NEW RATE AS OF

New rates for each rate code can be setup in advance. Enter the date when these new rates should be applied. Any Contracts, Quotations, Reservations, etc., entered with a date out that is later than this date will be billed at the new rate.
At this effective date, the new rates replace the expired rates in the product rate file.

RATE

Enter the new rate to apply as of the effective date just set.

BASE AMOUNT

Enter the Base Rate for the code, to be applied as of this New Rate Date.

METER INCLUDED RATE

Enter the over-time rate per meter or blade unit to be used as of this New Rate date.

Finished?

Click ACCEPT to accept any rate records.