You may want to adjust the invoicing frequency of a rental that lasts longer than expected. For example, if a customer has been renting a piece of equipment at the weekly rental rate for three weeks, then decides to extend the rental for another week, you may want to rolldown the weekly rate to a monthly rate, crediting back the previous three invoices and re-invoicing all four weeks together as a month. This is called rolling forward.
You You may have already enabled roll forward invoicing when you set up agreement types.
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You have the option of allowing the system to roll forward the frequency of future invoices without affecting the existing invoices.
Ordinarily Ordinarily, when you enable roll forward invoicing, going into the fourth week, the first three weeks would be credited back and re-invoiced together with the fourth week as a month.
If If, however, you choose to Override Rolldown on Roll Forward, the first three weeks will not be credited back, and the fourth week will generate another weekly invoice. Then the remainder of the rental period will be billed at the monthly rate, starting with the fifth invoice. Any unused days that are billed as part of this month will be credited back after the equipment is taken off rent.
See See Set up global rental parameters. for the steps involved in choosing this option.
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When you choose to allow roll forward invoicing, another check box is enabled that lets you also choose to credit back the difference between the cost of the rental at the old rate and the cost of the rental at the new rate.
For For example, if the cost of three weeks of rental is $300, and the cost of a month of rental is $250, rolling forward will create a $50 credit to the customer.
Marking Marking the Auto Adjust Rates check box will adjust the old rate to equal the new rate; this way, the system reads that there is no balance due to the customer and does not create a credit. This is beneficial if the new rate is cheaper than the old one, and you want to adjust the invoicing frequency of the previous invoices without affecting the cost.
You You can choose this option on any window where you enable roll forward invoicing.
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Before you enable roll forward invoicing, take a few moments to answer these questions:
Do you want to enable roll forward invoicing for:
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You can enable roll forward pricing by agreement type, by agreement, or by agreement line. If you set it up by agreement type, that setting will carry down to the invoice type or agreement line that uses that type or frequency. If you set up by agreement, it will apply to all lines on that agreement.
If you are not sure at agreement setup time whether you are going to use roll forward invoicing, you may want to only enable it per agreement entry.
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- Choose Transactions > Equipment > Rental Agreement Entry.
- Choose the expansion button next to the Invoicing Frequency ID field to open the Rental Agreement Invoicing Frequency Entry window.
- Mark the Allow Roll Forward check box. The Roll Forward Invoicing Frequency Setup lines appear.
- Change any fields, if necessary.
- The Auto Adjust Rates check box is enabled when you allow roll forward invoicing. Mark this check box if you do not want to credit the customer if the new rate is cheaper than the old rate.
- Choose OK.
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Most of the fields on this window fill automatically from setup and probably do not need to be changed. |
Enabling roll forward invoicing by agreement LINE
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