Rental Rate Components
To enable the invoicing of amounts that are related to the rental of items but have to be reported as separate positions, COSMO Rental offers the use of Rental Rate Components. This can be a G/L Account as well as a Resource and has a specific Price for each Rate.
Rental Rate Components are divided into two groups:
- Rate Part – Invoiced periodically.
- One-Time Invoicing – Invoiced once at the beginning, end, or a selected time of a renting period.
Rental Rate Components are inserted to the Rental Contract automatically after entering the item number.
The fields in the Rental Rate Components page are described in the following table.
| Field | Description |
|---|---|
| Type | Identifies the type of rate component. The options are Rate Part and One-Time Invoicing. |
| No. | Unique identifier for the rate component. |
| Description | Short description of the rate component. |
| Gen. Prod. Posting Group | General Product Posting Group that will be used when inserting the rate component to the Rental Contract. |
| VAT Prod. Posting Group | VAT Product Posting Group that will be used when inserting the rate component to the Rental Contract. |
| Invoicing at | Determines whether a One-Time Invoicing rate component is invoiced on shipment, on return of the related item, or a selected time during the rental period. The options are Start of Rental, End of Rental, and Selected. |
| Department Code / Project Code | Indicates the global dimensions 1 and 2 for the rental rate component. On the Actions menu, choose Order > Dimensions to assign dimension values, which default to these fields if assigned. These dimensions are passed to item rental rate components, rental quotes, reservation and contract, and then to the rental ledger entries and rental value entries. |
| Usage | Identifies how the rate component is used. The options are: - <Blank> - Insurance: Used with the Self-Insured Customer function, which prevents the addition of the rent component to the rental contract line if the customer is set up as Self-Insured (see Self-Insured Customers). - VAT - Fees - Surcharges This field must be shown using the Personalize function. |
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