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Setting Up Hire Rates
This guide is designed to help you with Hire Rates (Daily, Weekly & Half-Day) setup.
Topics included in this article
Daily & Weekly Hire Rates
When adding a new Fleet Item in Syrinx, a hire rate will need to be added for the item. If this is a brand new rate, it will be added in the Add New Stock Item to Fleet window at the same time as you add the new fleet item. You will do this by hitting Insert on your keyboard, giving the rate a name, e.g., 6.5t Excavator in the example below, and adding the new rate for that fleet item. When doing this, you will have the opportunity to set up the hire rates correctly and fully within Syrinx.
Typically, the 1 Day, 2 Days, 3 Days & 4 Days rate will be the daily rate multiplied by x1, x2, x3 & x4. To elaborate more, these rates are populated as such so that should a customer be quoted a Weekly rate but then off hires after 1, 2, 3 or 4 days (before the Weekly rate would typically be applicable), Syrinx will know what rate to charge. If these fields are left blank, Syrinx doesn’t recognize a Day rate and will charge the Weekly rate divided by either 5, 6 or 7 depending on your settings.
Below is an example of this:
Both items have been added to a Hire Contract, both with a 5WEEK Charge Period. The contract has been off-hired after 3 days (less than the minimum days required to qualify for a Weekly rate).
The rate for the 33ft Boom has no 1, 2, 3 or 4 Days rates set against it.
Syrinx has therefore taken the Weekly rate of $720 and divided it by 5 to get a day rate of $144 p/day x 3 days = $432, for 3 days.
The rate for the 45ft Boom has 1, 2, 3 or 4 Day rates set against it. Syrinx, therefore, knows to use the 3 Days rate of $525 for a 3-day hire! Without this set up correctly, you could be losing money without even realizing it!
If the fleet item/s have already been created and the rates have not populated fully in the Enter New Hire Rate window, as shown above, they can be added or updated later.
Rates are stored against the Fleet Category. The rates can simply be populated in the Amend Hire Category window, under the Hire Rates tab.
It is worth noting that if the rates are updated, they will only be applicable to Hire Contracts created after they have been updated. Any previous Hire Contracts will have to be manually changed.
Half-Day Hires
To ensure clarity, in this guide, the definition of a half-day hire is when a business model hires equipment to a customer for half a day. It doesn’t mean that the customer is given 50% off of a daily hire charge. Half-day hire rates are populated under 4 Hr as shown in the above snip.
When creating a Hire Contract for a half-day hire, it is critical that the following is adhered to:
- The 4 Hr rate must be populated in the Hire Rates tab under Fleet > Categories.
- The Charge Period must be set to Weekly (either 5WEEK, 6WEEK, or 7WEEK, depending on your settings) in the Hire Contract.
- The On Hire Date time and the To Date time, must be entered as a total of 4 hours. For example, if the hire begins at 9am, the end time must be 1pm.
The Charge Period can be set to default to a Weekly rate, the Fleet Item, or in Configuration.
Configuration > Hire/Sales > Hire Periods > Untick the current default box and tick the Default? tick box under the relevant weekly period.
Fleet > Fleet List > Select the Fleet Item > Show Details > Full Details > Select the Hire Period