Setting Up Contract Rates

Price Code

Select a contract price code if you are using price matrix pricing.

Product Code

Select a product code. Product codes are used to hold general ledger account information for use in posting expenses and revenue for service orders and service contracts.

Item

Select an item.

Service Type

Select a type of service, which represents the type of contract sold to a customer. The codes available are set up and maintained through the Contract Service Types form.

Unit of Rate

Select a unit of rate to use in conjunction with the contract rate to determine the amount of charges to apply to a contract line.

Rate Values

Select whether you will use a percentage of the MSRP or fixed amount for the rate, and specify the default value for these types:

• Meter Rate (can only be amount-based)
• Hour Rate
• Day Rate
• Week Rate
• 28 Day Rate
• Month Rate
• Year Rate

Minimum Billing

For each rate field, specify the minimum number of days to bill through for the corresponding unit of rate. For example, when Minimum Billing is set to 10 for the Day Rate, the Minimum Bill Thru date on the Rental Counter or Rental Check In/Out form is set to 10 days after the start date.

Ignore Currency Conversion

Select this check box to prevent the rate from being translated to the currency of the contract customer upon use.

Price Basis

Select the method to use to calculate charges when invoicing a contract line:

• Date: Amount is calculated based on the amount of elapsed time
• Meter: Amount is calculated based on the increase in meter amount from the last billing
• Greater: Both Date and Meter calculations are performed and the invoice amount is determined by the greater of the two
• Least: Both Date and Meter calculations are performed and the invoice amount is determined by the lesser of the two
• Both: Both Date and Meter calculations are included in the invoice amount

Include in Waiver Charge

Select this check box if you want to automatically select the Include Waiver Charge check box for new contract lines on the Contract Lines form.

Rental Days

Specify the number of expected rental days to use to calculate the projected due date.

Meter Allowances

Specify this number of meters allowed prior to billing.

• Sequence number
• Frequency
• Type
• Description
• Amount
• Percent
• Taxable status
• Associated account, unit codes, and description