This article goes over the different configurations for tax and payment options in your Rental Essentials Software. This area has the ability to set how rates are calculated, as well as setting up when payments should be collected. 

To get to this area, go to Configuration > Company Configuration > Tax and Payment Options.
 

By-the-day Rentals: Mainly used by party rentals, this box should only be checked if a company meets the following criteria:
 

1. They charge by the day.
 

2. Generally, it does not matter when the item is picked up or what time it is returned on the due date.
 

3. They do not charge for less than one day.
 

Do not collect payments: With this box checked, all future transactions will be automatically marked as paid.
 

Delete Old Moneris Tokens: This option will remove old Moneris tokens that are in the system.
 

Do your prices include tax: With this box checked, taxes will not be added to the prices that are set. Tax will still be calculated, displayed, and recorded for accounting purposes.
 

Rental Tax Rate: The default tax for rental items.
 

Damage Waiver Tax Rate: The default tax for damage waivers.
 

Sales Tax Rate: The default tax for sales items.
 

Currency: What currency will be used based on the company's location?
 

Currency Format: This setting will dictate whether the currency should appear with the currency code, or with the currency symbol and whether it should appear before or after currency values. 
 

Damage Waiver: This is the damage waiver percentage for all rental items. This is calculated within the contract.
 

Note: The damage waiver percentage entered in the item file will override the damage waiver percentage entered here.
 

Custom Damage Waiver Text: "Damage Waiver" may be renamed. This will be reflected in contracts, invoices, and reports in the Essentials UI. However, please note that the name of the GL account will remain the same.

Check Credit Against Deposit instead of Collecting Deposit: With this box checked the transaction deposit total will be checked against the customer credit limit instead of being collected.

Rounding Amount (Cash): Cash payment needs to be rounded.
 

Rounding Amount (Other): Payment marked as Other needs to be rounded.
 

Rounding Method for Overages: This setting determines how a rental duration should be rounded when it does not fall exactly on a rental period.
 

If the duration of the rental does not exactly match a period, pro-rate the overage instead of going to a higher period: With this box checked, the setting will control how the application determines pricing when the customer rents an item for a duration longer than any durations set in your price sheets. The system will calculate the extra time based on the best rate.
 

Early Return Refund Minimum: The minimum refund amount is set in dollars.
 

Late Return Overage Minimum: The minimum overage amount in dollars.
 

Allow Outstanding Balance: With this box checked, the customer is allowed to rent without paying any outstanding balance.
 

Accept credit cards even if the wrong ZIP code is provided: With this box checked, credit card payments can be processed if the zip code does not match the cardholder’s billing address.
 

Note: Must be integrated with credit cards for this setting.
 

If charging the replacement cost for a lost or unusable item, remove the rental charge: With this box checked, replacement costs will be charged. 
 

Percentage of Payment Required for Reservation: A percentage of a quote’s grand total that is required to be collected by the counter in order to convert it into a reservation.
 

Percentage of Payment Required for Send Out: A percentage of a reservation grand total that is required to be collected by the counter in order to convert it into an order.
 

What document will you most often print after taking a payment: This setting decides when a document should be printed.
 

Automatically Add Delivery Fees: This setting allows a company to decide if delivery fees should always be added to the contract.
 

Tax-Free Delivery Fee: With this box checked, the delivery fee will be tax-free.
 

Default Delivery Fee: If the delivery postal code does not have a custom fee associated with it, this amount will be used as the default.
 

First Contract Number: This is the key with which contract numbers will begin.
 

Note: This is only applicable when a company’s site is first created.
 

Payment options available to counter users: This determines which payment options are available for counter users.
 

Require Reference Number When payment type set to Other: With this box checked, reference numbers will be required when the Other is set as a payment on the contract.
 

Automatically Apply Deposit?: With this boxed checked, the deposit will apply to the transaction total.
 

Allow Returns for Refund: With this box checked, a return button will show up on each line item that behaves like a retail return.
 

Disable Duplication Payment Protection: This prevents multiple payments of the same dollar amount from occurring within two minutes of each other. Enabling this setting will turn off that protection.
 

Future Sales Availability: When this is enabled, future reservations will be counted against item availability.