Invoicing Standard Charge Calculation

STANDARD CHARGE CALCULATION

Our standard charge calculation works around a 24 hour clock. We have four charging rates set. These are as follows:

ONE DAY RATE: Items hired and returned within a 24 hour period.
= 60% of the 7 day rate rounded up to the nearest 10p

TWO DAY RATE: Items hired and returned after 24 hours and before 48 hours.
= 80% of the 7 day rate rounded up to the nearest 10p

SEVEN DAY RATE: Items hired and returned after 48 hours and before 168 hours.
= 100%

After the first 7 day period a 5 day rolling week applies, charging 1/5 of the 7 day rate for each continuing day up to day 12. Days 13 and 14 are calculated as free days. The charge calculations start again at day 15 and charges 1/5 of the 7 day rate for each continuing day up to day 19. Days 20 and 21 are free days and so on.

MANUAL CHARGE CALCULATION

This charge calculation allows the operator to override the standard charge calculations if appropriate. We have 6 charging labels set. These are as follows:

FOUR HOUR RATE: Items hired and returned within a 4 hour period.

OVER NIGHT RATE: Items hired after 4.00pm and returned before 9.00a.m the next day.

ONE DAY RATE: Items hired and returned within a 24 hour period.

TWO DAY RATE: Items hired and returned after 24 hours and before 48 hours.

THREE DAY RATE: Items hired and returned after 48 hours and before 72 hours.

SEVEN DAY RATE: Items hired and returned after 72 hours and before 168 hours.

If this option is chosen all labels need a rate to be keyed. The charge calculations will then charge the appropriate label for the period hired up to the 7 day rate. Thereafter the calculation works exactly the same way as the standard charge calculation.

RETURN INVOICING

Items hired and returned during the month will be billed accordingly. The period of the hire will print on the invoice, i.e to and from dates. The markers “St” (standard) and “M” (manual) will also print denoting the charge calculation used for that transaction. Period labels will also print with their appropriate rates eg.. 1day, 2 day, 3 weeks, 3 weeks 2 days etc. along with the total calculations. In the header of the invoice at “Type”, “Final” will print, this being the acknowledgement that all items of the document have been returned.

CONTINUATION INVOICING

ALL credit hire contracts bill at the end of the month. Contracts in “collection” bill up to 24.00 hours on their “off hire” date. All other contracts bill up to 24.00 hours on the last day of the month. All sales items recorded on these contracts are also billed. Contracts that start within the last week of the month bill as follows:

31st: No Bill Raised

30th: No Bill Raised

29th: 1 Week to 5th of following month

28th: 1 Week to 4th of following month

27th: 1 Week to 3rd of following month

26th: 1 Week to 2nd of following month

25th: 1 Week to 1st of following month

The invoice will display the period charged and in the header of the invoice at “Type” “Continuation” will print. This being the acknowledgement that all items on the document remain “on hire”.

RETURN INVOICING (After continuation invoicing)

On termination of these contracts the charge calculation will look at the previously billed charges and will calculate the balance due or credit due. Recognizing any sale item return to be credited and or hire period to be adjusted. The 5day rolling week calculation continues through out the life of the hire and adjusts the days charged accordingly.

Eg. Hire starts 14.04.03.and remains on hire at end of month.
A “Continuation” Invoice is raised for this period, ie. 14.04.03 to 30.04.03 = 2 weeks 3 days

If returned on the 01.05.03 another one day charge will apply
If returned on the 02.05.03 two days charge will apply
If returned on the 03.05.03 two days charge will still apply (this is a free day)
If returned on the 04.05.03 two days charge will still apply (this is a free day)
If returned on the 05.05.03 three days charge will apply
If returned on the 06.05.03 four days charge will apply
If returned on the 07.05.03 five days (one week) charge will apply
If returned on the 08.05.03 (one week, one day) charge will apply
If returned on the 09.05.03 (one week, two day) charge will apply
If returned on the 10.05.03 (one week, two day) charge will apply (this is a free day)
If returned on the 11.05.03 (one week, two day) charge will apply (this is a free day)
and so on.

If still on hire at the end of month a “Continuation Invoice” will be raised for this period. The charging calculation will look at the previous bill, (2 weeks 3days), and charge accordingly. In this case 4 weeks 2 days although the actual period, 01.05.03 to 31.05.03 = 4 weeks 3 days. This is because the sixth day does not bill because it is a free day.