Enter the payment method for this rate record.  The drop-down box reveals the possible methods.  This determines how the remaining rates are calculated.  If you choose "Monthly", the remaining rates, weekly, bi-weekly, semi-monthly and daily are based on the monthly rate.

Enter the number of periods for this price rate.  The number of periods determines the periods on the agreement when rented.  If you set up Method to be "Monthly", 18 periods would be 18 months.  When this price rate is selected the inventory item is rented for 18 months, 78 weeks, 36 semi-months, 39 bi-weeks, 546 days, depending on which payment method is chosen at the time of the rental.

Enter the category code for this price rate.  A drop-down box reveals the possible categories, previously added in the Category File.  The category code determines which inventory items will select this price rate.  If you choose a category of refrigerator, ONLY those inventory items using that refrigerator category code will be able to select this price rate code at the time of renting.

Enter the number of turns for this price rate.  The number of turns represents the number of times the cost you want to multiply in order to get the potential rent figure.  If you set this field to 3.5, the cost of the inventory item is multiplied by 3.5 to give you the potential rent for this agreement.  The potential rent for this agreement is used to calculate the rental rate, by dividing the potential rent by the number of periods.

Round To Nearest

Enter the "cents" you want the rental rate to automatically round to, after making the calculation.  If you enter 0.99, when the rental rate is calculated the rate is rounded to the nearest 0.99.  If the calculated rate is 10.59, it would change to 10.99.

Click to expand graphic.

Click in this check-box if you want to count items associated with this rate in BOR. BOR is the Balance On Rent calculation made by the system

Count in BOR

If this box is checked, items rented using this price rate record will be counted in the BOR calculation.

Count in BOR

If this box is not checked, items rented using this price rate record will NOT be counted in the BOR calculation.

Click in this check-box if you want to count items associated with this rate in APU. APU is the
Average Price per Unit calculation made by the system.

Count in APU

If this box is checked, items rented using this price rate record will be counted in the APU calculation.

Count in APU

If this box is not checked, items rented using this price rate record will NOT be counted in the APU calculation.

Price Discount Base

This field determines the minimum and maximum range of income collected for the price discount.  The price discount itself remains a PERCENTAGE.

A drop-down box reveals the two (3) choices Amount or Percent or None.

Amount

If this field is set to amount and the minimum is 100.00, that would require $100.00 be collected as rental income before this price rate would be discounted.

Percent

If this field is set to percent and the minimum is 100.00, that would require 100% of the cost to be collected as rental income before this price rate would be discounted.

None

If this field is set to none there is no price discount allowed.

This field determines the minimum and maximum range of income collected for the term discount.  The term discount itself remains a PERCENTAGE.

A drop-down box reveals the two (2) choices Amount or Percent.

Amount

If this field is set to amount and the minimum is 100.00, that would require $100.00 be collected as rental income before this price rate would be discounted.

Percent

If this field is set to percent and the minimum is 100.00, that would require 100% of the cost to be collected as rental income before this price rate would be discounted.

None

If this field is set to none there is no term discount allowed.

This field determines whether this is a special price rate record for an item that is added on to an agreement.  This price rate would only be valid if an item with this category was rented with ANOTHER item.

Add On

If this box is checked the price rate will be treated like an add-on, and would require another item be rented with this item.

Add On

If this box is not checked the price rate will be treated as a normal record, and the item can use these rates without being rented with another item.