Income and Invoice Reporting


Introduction

The Syrinx system has two ways of reporting on income – the Invoice Reports on the Invoicing menu, and the Hire Utilisation Reports (‘Utilisation by Stock Item’ plus ‘Estimated Hire Income’) on the Fleet menu.

Invoicing / Invoice Reports

This menu option provides a set of reports that all report on the actual invoices raised and confirmed on the system.  

The From/To Dates that you provide when you run the report will relate to the Invoice Dates, so depending on how the invoicing is carried out, the income being reported may relate to services/supplies (i.e. hire, servicing or sales) provided outside of this period.  For example, if continuation invoices are produced monthly, and if the system is configured to not produce a continuation invoice during the first weeks hire, then the invoice reports at the end of the month will not report on any income from hires that commenced just before the month end.

If there have been one or more exchanges during the period being invoiced and there was not an associated hire rate change, Syrinx will generate a single invoice line to simplify the presentation of the charges to your customers.  The invoice reports cannot provide any breakdown of revenue between the different fleet items that were related to that single invoice line. 

The Invoice Reports detail all the types of income on each invoice, so they will include transport charges, consumable sales, cleaning and damage charging, etc.

It should also be noted that Syrinx allows full control over the invoices at the review stage, and the amendment of generated hire charges.  The invoice reports will reflect any such amendments, as they report directly from the invoices that have been issued.

The purpose of the invoice reports are to summarise (or provide the detail) of the invoices that have been issued to your customers, and that will be posted to the accounting system.

Accounts / Hire Utilisation Reports – ‘Utilisation by Stock Item’ plus ‘Estimated Hire Income’

As noted above, the Invoice Reports cannot (by design) provide a breakdown of income for individual fleet items, nor can they report on the actual period of utilisation. Also, as they report only on confirmed invoices, they cannot report on income from hires that have been completed but are yet to be invoiced, nor can they predict future income from current ongoing hires.  For these reasons, two additional reports are provided – ‘Utilisation By Stock Item’ and ‘Estimated Hire Income’.  

These two reports work by analysing the hire contracts that are/were active within the reporting period, along with their associated exchanges, suspensions, credit notes, etc.  They then calculate income per working day based on the hire rate and hire period (DAY, WEEK, HOUR, etc.) linked to each of the hire items on the contracts.  This is then applied to the date range that the report is being run for to produce an estimated income for the requested period.

Unlike the Invoice Reports, these two reports…

• report income for the requested period of utilisation
• can be run for any period – i.e. week, fortnight, month, etc
• split revenue between fleet items in the event of an exchange
• can be run for a period into the future to predict income based on current hires
• report on income for hire charges only 
• will reflect credits raised against hires, even if the credit is raised outside of the reporting period

However, because of how the calculations are made, it should be noted that…

• contract planned end dates are not taken into account so an open contract will report income to the end of the report period whereas it may eventually be offhired before that date meaning that the resulting invoice will be less than the estimated income.
• manual amendments to invoices made at the invoice review stage will not be reflected
• minimum days to charge settings on hire item records are not taken into account