Sales Calculation

If a customer wants to purchase the item that they rented from you, you can use the Sales Calculation function in the Rental Contract to:

  • Calculate the sales price of a rented item, which can be provided to the customer before any sales process begins.
  • Manually enter the sales price of a rented item.
  • Calculate or manually enter the sales price of the returned rental item and prepare the Rental Contract line for the sales process (using a standard Sales Quote/Order).

Once a Rental Item has been shipped, a sales price can be calculated or manually entered; however, the sales process cannot begin until the Rental Item has been returned.

Sales Calculation Pages

Information for calculating a sales price or preparing the item for sale is entered in the Sales Calculation Overview and Sales Calculation pages.

Initially, the Sales Calculation Overview page opens, which lists the item on the selected Rental Contract line. If several units of the same item were rented, all will be listed. If the item has only been shipped, the Returned Item checkbox is clear and the Sell Item checkbox is not editable. If the item has been returned, the Returned Item checkbox is selected, and you can select the Sell Item checkbox when you're ready to sell the item.

In this page, you can manually enter a Final Selling Price on the line(s), or you can choose the value in the Calculation field on each line to create a calculation in a standard template based on the following values:

  • None – Manual entry of item value
  • Book Value – Book Value from the Fixed Asset Card
  • Unit Cost – Value differs based on the type of item:
    • Sales Unit Price from the Machine Card, Machine Component Card, or Supplementary Part Card (service items)
    • Unit Cost from the Machine Type Card, Machine Component Type Card, Supp. Part Type Card, or Rental Item (non-service items)

In the Sales Calculation page (opened from the Calculation field), you can edit values, offset rate percentages, and final values to calculate the sales price. The Rental Contract amounts for the item, rate part, and one-time invoicing are included for consideration in reducing the sales price.

To create an initial sales calculation

  1. Ship an item on a Rental Contract.
  2. With the line selected, choose Line > Functions > Sales Calculation on the Lines FastTab.
  3. On the line that needs a calculation, choose the value in the Calculation field.
  4. Choose which value to base the calculation on and then choose the OK button.
  5. Enter information as needed based on the calculation value.
    If None was selected, enter the item value in the Value field for Position 1.1.
  6. As entries are made, the Sales Price field in the General FastTab is updated.
  7. Once all the information is entered, choose the Close button.
    The Final Selling Price field is updated with the Sales Price from the calculation.
  8. If there are other items for sale that require calculation, repeat steps 3-7.

You can delete any calculations by opening the Sales Calculation page and choosing Manage > Delete. At this point, no further processing is possible until the Rental Item is returned.

To enter price information without a calculation

  1. Ship (or ship and return) an item on a Rental Contract.
  2. With the line selected, choose Line > Functions > Sales Calculation on the Lines FastTab.
    If returned, the Returned Item checkbox is selected.
  3. On the line to sell, enter the sales value in the Final Selling Price field.
  4. If the item was returned, select the Sell Item checkbox.
    The Total Sum field is updated with the value from the Final Selling Price field. This value will reflect the total of all lines with the Sell Item checkbox selected.
  5. If there are other items for sale that don't need a calculation, repeat steps 3-4.
  6. Go back to the Rental Contract and see To sell the rented item to continue to the next step.

To create or update a sales calculation of returned item

  1. Ship an item on a Rental Contract and process the return.
  2. With the line selected, choose Line > Functions > Sales Calculation on the Lines FastTab.
    Notice that the Returned Item checkbox is selected.
  3. On the line that needs a calculation, choose the value in the Calculation field.
    • If a calculation exists (value = Yes), it will open with the previous calculation information.
    • If a calculation does not exist (value = No), then choose which value to base the calculation on and then choose the OK button.
  4. Enter information as needed based on the calculation value.
    If None was selected for a new calculation, enter the item value in the Value field for Position 1.1.
  5. As entries are made, the Sales Price field in the General FastTab is updated.
  6. Once all the information is entered, choose the Close button.
    The Final Selling Price field is updated with the Sales Price from the calculation.
  7. Select the Sell Item checkbox.
    The Total Sum field is updated with the value from the Final Selling Price field. This value will reflect the total of all lines with the Sell Item checkbox selected.
  8. If there are other items for sale that require calculation, repeat steps 3-8.
  9. Go back to the Rental Contract and see To sell the rented item to continue to the next step.

To sell the rented item

  1. On the Actions menu, choose Functions > Create Sales Quote or Create Sales Order, depending on your business process.
  2. Choose the Yes button to create the quote/order and then the Yes button again to open the quote/order.
    The quote/order includes the item(s) for sale with the calculated sales price(s).
  3. Process the sales document as usual.

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