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Setup: Equipment Rental Rates

Go to Setup | Equipment/Trucks | Equipment | Equipment Charge Out Rates from the Main Menu.

The grid allows you to enter an hourly rental rate for a piece of equipment.  The rate will apply to the piece of equipment and for the activity.  Distinguishing payment by activity might be important if you pay rent while the equipment is in operation, but not when maintenance is performed.  In that case, you could 'zero-rate' the maintenance activity so that rent would not be paid on maintenance time, but would be paid on other production time.  The basis must be set to 'HR' in order for the rental rate to apply.  The Date determines which rate applies if there are multiple rates -- the rate that is the most recent date (but prior to the time slip) is the one selected by The Logger's Edge.

Note:  The 'Charge Out Rate' column refers to the revenue that you would receive if you charged out the equipment to a third-party.  The rental rate is the rate you pay to the owner of the equipment for its use.

The rental rate will only apply to equipment units whose checkbox 'Pay Rental' has been checked (see Setup | Equipment/Trucks | Equipment | Equipment Unit Numbers).  The equipment rental will be calculated for all Employee Time Slips, Equipment Time Slips and Subcontractor Time Slips where the rental equipment unit is listed as the equipment on the time slip.