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If you do not want to set up rental rates for every new agreement line you create, you may choose to create a standard price template, with multiple price rate lines, that will default into your agreements. Then the system will automatically choose which rate to use. When multiple price rate lines exist on a template, the system chooses which rate to use by comparing the length of the rental period to the length of the rental U of M on each line, always starting with the bottom price rate line and moving up as necessary. Take, for example, a rental period of 45 days and a template that contains price rate lines for a Day, a Week (defined as 7 days), and a Month (defined as 30 days).

The system looks at the bottom (monthly) price rate line first. The length of the rental period (45 days) is placed over the length of the rental U of M on this line (30 days), creating a quantity (45/30). The system uses the remainder option on this line to determine what to do with the quantity.

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• Rollup
  Any days that constitute a full rental U of M are billed on this rate line. Any remainder is rolled up to the next price rate line, where a new quantity is created, and the billing is dealt with per that remainder option.
• Round Up
  If the quantity yields at least one full rental U of M, those days are billed as a full U of M at this rate. Any remainder is rounded up to and billed as another full rental U of M at this rate. If the quantity does not yield a full rental U of M, all the billable days roll up to be dealt with on the next price rate line.
• Fraction
  The rental period is billed as a fraction of the price on this rate line. The fraction is the quantity: the number of days in the rental period over the number of days in this rental U of M.
• None
  None means to do nothing. This option is meant for use on the top or daily price rate lines, when all other remainder options are invalid (you cannot bill for a fraction of a Day, round up to a Day, or roll up to a line with a shorter price rate duration). On the top line, the billable days are billed as individual days. On the lower price rate lines, None behaves the same way as Fraction, billing the rental period as a fraction of the rate.

See Remainder options and rolldown quantities - sample scenarios for sample scenarios that illustrate how each remainder option functions.

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The rental period is 48 days.

The system looks to the monthly price rate line first:

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The rental period is 45 days.

The system looks to the monthly price rate line first:
The quantity is 45/30. Because the quantity yields at least one full Month, and the remainder option is round up, the billing of the rental stays on the monthly price rate line. The 30 days that comprise a full Month are billed as a Month, and the 15-day remainder is rounded up to another full Month.
Because there is no rate with a longer duration than a Month and therefore no rate line to roll down to, the rolldown quantity is ignored. The entire rental period is billed as 2 Months.

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The rental period is 12 days:

The system looks to the monthly price rate line first:
The quantity is 12/30. Because the remainder option is round up, but the quantity does not yield a full Month, all the billable days move up to the weekly price rate line.
On the weekly price rate line, the quantity is 12/7. Because the remainder option is round up, and the quantity does yield a full Week, this rate will be used. The 7 days that comprise a full Week are billed as a Week, and the 5-day remainder rounds up to another full Week.
The rental period is 2 Weeks. This does not exceed the rolldown quantity of 3 Weeks, so the billing of the rental stays at 2 Weeks.

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The rental period is 7 days.

The system looks to the monthly price rate line first:
The quantity is 7/30. Even though the length of the rental period is equal to a Week, because the remainder option on the monthly price rate line is Fraction, the billing of the rental will remain on this line. Regardless of if a remainder exists, when the remainder option is Fraction, the billing stops on that line.
The rental period is billed as 7/30 of the rate for a Month.

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Setting up defaults is optional. Defaults will fill into the price rate lines of an agreement, and they cannot be changed on the price rate line level. Leave these fields blank if you want to be able to define overages per agreement.

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See also: