Equipment Costing - Rental Equipment Invoice

Overview

Rental equipment is equipment that is rented from an external vendor.  If the user will be using rental equipment, here are some settings to keep in mind:

  • On the Equipment Maintenance screen, enter a Vendor code (standard Treeview path: Equipment Costing > Setup > Enter Equipment – General tab).

  • Check ‘Use Equipment Revenue Rate Types’ checkbox on the on the Equipment Costing Control File screen (standard Treeview path: Equipment Costing > Setup > Local Tables > Control – Charge/Reconciliation tab).

  • Set up Revenue Rate Type and select a rate Type Code as ‘Rental’ (standard Treeview path: Equipment Costing > Setup > Local Tables > Rates By Type > Revenue Types). Check the ‘Rental’ checkbox to indicate that this Revenue Type will be used for rental invoice matching. Charges posted to this code will be available in Accounts Payable.

  • Maintain equipment rates for this rate type code for rental at any desired hierarchical level.

  • Post Equipment Time Entry to a job “J” (standard Treeview path: Equipment Costing > Transactions > Time Entry) or MS Ticket Truckers Payroll to “G” (standard Treeview path: Material Sales > Truckers Payroll > Prepare Truckers Payroll).

  • Create an Accounts Payable Rental Invoice to pay the rental charges to the Vendor.

  • Use the Equipment Revenue/Cost Analysis Query for data analysis/decision making.

When Equipment Time is entered and posted in the Equipment Costing module, the rental charges posted will be available in AP Rental invoice entry, which can be selected against the invoices entered.

If Material Sales module is being used, then when posting MS Truckers Payroll, rental charges are posted and during Rental Invoice entry in Accounts Payable, Invoices can be matched against the posted Rental charges.