Rental Equipment Management

OBJECTIVE

The Rental Equipment Management function is used to manage the inventory of rental equipment (general monitoring, quantity management, incoming and outgoing inventory, etc.), in order to automatically invoice based on usage (in projects, for customers, etc.) and to monitor the related costs and revenues.

Rental equipment is defined as the material a company has in inventory which it sends to projects or rents to a given customer and is returned to inventory after being used on projects or by the customer.

PREREQUISITEs

Define Categories
Define Item Types
Define Sites
Chart of Accounts
General Settings
Supplier Management
Project Management

Steps

maestro* > Equipment > Equipment Rental > Maintenance > Rental Equipment Management

Create a tool

In the main window of maestro*, in the left menu, click on the Equipment module, then Equipment Rental.
In the section on the right, in the Maintenance group, click on Rental Equipment Management. The Rental Equipment Management window is displayed.
Enter the required information:

Field

Description

Code

Tool code.

Classification

Classification of the tool in relation to the categories defined in Define Categories.

French desc.

French description that identifies the tool.

English desc.

English description that identifies the tool.

Field	Description
Code	Tool code.
Classification	Classification of the tool in relation to the categories defined in Define Categories.
French desc.	French description that identifies the tool.
English desc.	English description that identifies the tool.

Enter the required information in the Item Description tab:

The Configuration icon is used to define entry options for the Code field.

Identification section:

Field

Description

Type

Type of tool.

NOTE: This field is used to select a type using the Define Item Types option.

Category

Main category of the tool.

NOTE: This field is used to select a category using the Define Categories option.

Category Lev. 2

Second category level.

NOTE: This field is used to select a category using the Define Categories option.

NOTE: The second level is used to facilitate searching using search by category.

Category Lev. 3

Third category level.

NOTE: This field is used to select a category using the Define Categories option.

NOTE: The third level is used to facilitate searching using search by category.

Status

Status of the equipment in maestro*.

The two statuses are: Rental Equipment or Inactive Rental Equipment.

Site

Used to enter a default site for the tool. If a site is entered, maestro* displays the site in the various screens of maestro*.

NOTE: This field is used to select a site using the Define Sites option.

Location

Place on the site where the tool can be found.

Item type

Used to specify the type of expenses to which the tool belongs (Labour, Material, Equipment, Various or Sub-C – Sub-contractor).

Subtype

Used with the Labour item type and is printed on sales invoices.

Creation Date

Date on which the tool was created.

NOTE: This date is displayed automatically when the tool is saved.

Field	Description
Type	Type of tool. NOTE: This field is used to select a type using the Define Item Types option.
Category	Main category of the tool. NOTE: This field is used to select a category using the Define Categories option.
Category Lev. 2	Second category level. NOTE: This field is used to select a category using the Define Categories option. NOTE: The second level is used to facilitate searching using search by category.
Category Lev. 3	Third category level. NOTE: This field is used to select a category using the Define Categories option. NOTE: The third level is used to facilitate searching using search by category.
Status	Status of the equipment in maestro*. The two statuses are: Rental Equipment or Inactive Rental Equipment.
Site	Used to enter a default site for the tool. If a site is entered, maestro* displays the site in the various screens of maestro. NOTE: This field is used to select a site using the Define Sites* option.
Location	Place on the site where the tool can be found.
Item type	Used to specify the type of expenses to which the tool belongs (Labour, Material, Equipment, Various or Sub-C – Sub-contractor).
Subtype	Used with the Labour item type and is printed on sales invoices.
Creation Date	Date on which the tool was created. NOTE: This date is displayed automatically when the tool is saved.

Accounting Defaults section:

Field

Description

Sales Tax Codes

Tax codes for the equipment used for sales.

NOTE: We recommend not entering tax codes. This causes maestro* to display the customer's tax codes for sales.

Revenue Account

Specific revenue account for Equipment Rental.

NOTE: If an account is not specified, maestro* uses the account specified in General Settings.

Inventory Activity

Used to determine the activity to which the inventory will be posted.

NOTES: This field is optional and will only be used if a project and a group exist in Purchasing - Configuration, in the Inventory panel.

Maestro* will use the activity defined in Purchasing - Configuration if no activity has been defined for the item.

If a general ledger account is defined in the activity of the item, this account is used for the transfer.

Cost Management

AverCost

Variable

Used to specify the method used to manage costs.

Average cost is the management method usually used by default.

Variable cost is a method used with a special interface. With this interface, maestro* uses the PU from the order based on the requisition and line number in the requisition instead of using the average cost.

Field	Description
Sales Tax Codes	Tax codes for the equipment used for sales. NOTE: We recommend not entering tax codes. This causes maestro* to display the customer's tax codes for sales.
Revenue Account	Specific revenue account for Equipment Rental. NOTE: If an account is not specified, maestro* uses the account specified in General Settings.
Inventory Activity	Used to determine the activity to which the inventory will be posted. NOTES: This field is optional and will only be used if a project and a group exist in Purchasing - Configuration, in the Inventory panel. Maestro* will use the activity defined in Purchasing - Configuration if no activity has been defined for the item. If a general ledger account is defined in the activity of the item, this account is used for the transfer.
Cost Management AverCost Variable	Used to specify the method used to manage costs. Average cost is the management method usually used by default. Variable cost is a method used with a special interface. With this interface, maestro* uses the PU from the order based on the requisition and line number in the requisition instead of using the average cost.

Equipment Management section:

Field

Description

Item Management Mode

U-Unit

3-Serial Number

Used to monitor equipment individually by creating an item code for each or to monitor a batch of similar or identical equipment without individually monitoring the related costs and revenues.

Used to monitor each tool individually, by their serial number or internal identification, without having to create a different item code for each.

NOTE: When this type of tool is added to stock, maestro* requests a serial number systematically.

Manufacturer

Manufacturer of the tool.

NOTE: This field is used to select a manufacturer using the Supplier Management option.

Model

Tool model.

Equipment

Used to link a piece of equipment to a Project that is associated with the equipment. Only projects on which the Equipment box is checked in Project Management can be selected.

NOTE: This project will be used to read production quantities if the By Counter invoicing method is enabled.

Supplier

Original supplier of the Equipment.

Date

Date on which the Equipment was purchased.

Expiration Date

Date on which the warranty for the Equipment expires.

Invoice No

Invoice number for the purchase of the Equipment.

Equipment Cost

Price paid on the purchase of the Equipment.

Invoicing Method

Best Cost

Non Billable

By Day

By Week

By Month

Fixed

By Meter only

By Step

Calculation first performed by day, but compared with the result of the calculation by week and by month. The lowest amount is used. Value used by default when new equipment is created.

NOTE: To use this invoicing mode, rates by day, week and month must be entered in the Daily Rate, Weekly Rate and Monthly Rate fields.

No invoicing to follow. Only the location of the tool remains.

Invoicing by day.

Invoicing by week.

NOTE: This type of invoicing applies to a period of seven consecutive calendar days.

Invoicing by month.

NOTE: This type of invoicing applies to a period in a month whose duration is determined as follows:

Invoicing at a fixed rate established for all allocations.

NOTE: The rate is invoiced only once and no other costs (except by meter, if applicable) are invoiced.

Invoicing based on the meter.

NOTE: Invoicing by counter can also be added to invoicing by day, week, month or a fixed value.

Invoicing based on a base rate covering a minimum leasing period, with the possibility of invoicing an additional amount when the leasing period exceeds the basic period.

NOTE: In this mode, it is necessary to indicate the Basic rate and the Number of Days for Basic Rate. The basic rate corresponds to the minimum leasing cost for a period equal or lower than the number of days indicated in the Number of Days for Basic Rate field. If the leasing period exceeds this number of days, additional fees may be according to the values entered in the Daily, Weekly and Monthly rates.

NOTE: The By step invoicing method is applicable to Rental Order and to Equipment Billing/Costing.

Warning! The By step invoicing method is not compatible with the Automatic (Best Cost)invoicing method.

If a number of days have been entered in the Number of days in a month (N) field in Configuration in the Equipment Rental module, a month will be considered as a period beginning on the X day of the month and ending N days later, inclusively.

Otherwise, a month will be considered as a period starting on day X of a month and ending on day X less one day of the next month.

Basic Rate

Minimum base rate to be invoiced if the invoicing method is By Step based on the number of days for the basic rate field.

Number of days for basic rate

Number of days in the base rate if the invoicing method is By Step.

Billing Code

Used to specify a catalogue item code used to determine the unit price applicable for the rental.

This lets you determine the rental price in Define Customer Pricing and have different rental prices based on the customer or special conditions that may be defined.

Daily Rate

1-2-3-4

Daily rate.

NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.

Warning! When you select the By step invoicing method, if you would like to apply the same rate for every additional day, enter -1. For example, to invoice $25 for the first day over the number of base days and $20 for every additional day, indicate $25 in Rate 1, $20 in Rate 2 and -1 in Rate 3.

These instruction also apply to weekly, monthly and fixed rates.

Weekly Rate

1-2-3-4

Weekly rate.

NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.

Monthly Rate

1-2-3-4

Monthly rate.

NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.

Fixed Rate

1-2-3-4

Fixed rate established for all allocations.

NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.

Bill by Meter

Used to add an allocation by Meter to the previously determined base rate (Daily Rate, Weekly Rate, Monthly Rate or Fixed Rate), if the box is checked.

NOTE: This rate can only be applied to Equipment with Item Management Mode set to unit and managed individually, or if a file is opened for each.

Unit

Type of unit used by the meter.

NOTE: This field matches the “Client” unit as indicated in the Catalogue Management. It may be kilometers, miles, tons, pages, etc. If there is no specified unit, maestro* will use KM as default.

NOTE: This unit appears on the invoice.

Rate 1-2-3-4 by Meter

Amount of the rate by Meter.

NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.

Maximum billing amount

Maximum amount that can be billed for the tool.

NOTE: If this field is empty, maestro* presumes there is no maximum billable amount unless the Use the last cost as the maximum billing amount box is checked.

Use the last cost as the maximum billing amount

Presumes that the maximum billable amount for the tool is the last cost, if the box is checked.

Field	Description
Item Management Mode U-Unit 3-Serial Number	Used to monitor equipment individually by creating an item code for each or to monitor a batch of similar or identical equipment without individually monitoring the related costs and revenues. Used to monitor each tool individually, by their serial number or internal identification, without having to create a different item code for each. NOTE: When this type of tool is added to stock, maestro* requests a serial number systematically.
Manufacturer	Manufacturer of the tool. NOTE: This field is used to select a manufacturer using the Supplier Management option.
Model	Tool model.
Equipment	Used to link a piece of equipment to a Project that is associated with the equipment. Only projects on which the Equipment box is checked in Project Management can be selected. NOTE: This project will be used to read production quantities if the By Counter invoicing method is enabled.
Supplier	Original supplier of the Equipment.
Date	Date on which the Equipment was purchased.
Expiration Date	Date on which the warranty for the Equipment expires.
Invoice No	Invoice number for the purchase of the Equipment.
Equipment Cost	Price paid on the purchase of the Equipment.
Invoicing Method Best Cost Non Billable By Day By Week By Month Fixed By Meter only By Step	Calculation first performed by day, but compared with the result of the calculation by week and by month. The lowest amount is used. Value used by default when new equipment is created. NOTE: To use this invoicing mode, rates by day, week and month must be entered in the Daily Rate, Weekly Rate and Monthly Rate fields. No invoicing to follow. Only the location of the tool remains. Invoicing by day. Invoicing by week. NOTE: This type of invoicing applies to a period of seven consecutive calendar days. Invoicing by month. NOTE: This type of invoicing applies to a period in a month whose duration is determined as follows: Invoicing at a fixed rate established for all allocations. NOTE: The rate is invoiced only once and no other costs (except by meter, if applicable) are invoiced. Invoicing based on the meter. NOTE: Invoicing by counter can also be added to invoicing by day, week, month or a fixed value. Invoicing based on a base rate covering a minimum leasing period, with the possibility of invoicing an additional amount when the leasing period exceeds the basic period. NOTE: In this mode, it is necessary to indicate the Basic rate and the Number of Days for Basic Rate. The basic rate corresponds to the minimum leasing cost for a period equal or lower than the number of days indicated in the Number of Days for Basic Rate field. If the leasing period exceeds this number of days, additional fees may be according to the values entered in the Daily, Weekly and Monthly rates. NOTE: The By step invoicing method is applicable to Rental Order and to Equipment Billing/Costing. Warning! The By step invoicing method is not compatible with the Automatic (Best Cost)invoicing method. If a number of days have been entered in the Number of days in a month (N) field in Configuration in the Equipment Rental module, a month will be considered as a period beginning on the X day of the month and ending N days later, inclusively. Otherwise, a month will be considered as a period starting on day X of a month and ending on day X less one day of the next month.
Basic Rate	Minimum base rate to be invoiced if the invoicing method is By Step based on the number of days for the basic rate field.
Number of days for basic rate	Number of days in the base rate if the invoicing method is By Step.
Billing Code	Used to specify a catalogue item code used to determine the unit price applicable for the rental. This lets you determine the rental price in Define Customer Pricing and have different rental prices based on the customer or special conditions that may be defined.
Daily Rate 1-2-3-4	Daily rate. NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field. Warning! When you select the By step invoicing method, if you would like to apply the same rate for every additional day, enter -1. For example, to invoice $25 for the first day over the number of base days and $20 for every additional day, indicate $25 in Rate 1, $20 in Rate 2 and -1 in Rate 3. These instruction also apply to weekly, monthly and fixed rates.
Weekly Rate 1-2-3-4	Weekly rate. NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.
Monthly Rate 1-2-3-4	Monthly rate. NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.
Fixed Rate 1-2-3-4	Fixed rate established for all allocations. NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.
Bill by Meter	Used to add an allocation by Meter to the previously determined base rate (Daily Rate, Weekly Rate, Monthly Rate or Fixed Rate), if the box is checked. NOTE: This rate can only be applied to Equipment with Item Management Mode set to unit and managed individually, or if a file is opened for each.
Unit	Type of unit used by the meter. NOTE: This field matches the “Client” unit as indicated in the Catalogue Management. It may be kilometers, miles, tons, pages, etc. If there is no specified unit, maestro* will use KM as default. NOTE: This unit appears on the invoice.
Rate 1-2-3-4 by Meter	Amount of the rate by Meter. NOTE: Four different rates can be entered. The rate to be used is selected in Project Management, in the Default Equipment Rate field.
Maximum billing amount	Maximum amount that can be billed for the tool. NOTE: If this field is empty, maestro* presumes there is no maximum billable amount unless the Use the last cost as the maximum billing amount box is checked.
Use the last cost as the maximum billing amount	Presumes that the maximum billable amount for the tool is the last cost, if the box is checked.

Inventory Status section: these fields are used to view the quantities and amounts in allocations that are on order, have not been invoiced, are to be shipped, to be invoiced or are in stock.

Equipment Accounting Defaults section:

Field

Description

Project

Project to which revenues and costs related to the tool are posted.

NOTE: This field is used to select a project using the Project Management option.

Revenues

Activity

Group (Internal)

Group (External)

Revenue activity. Invoicing.

Internal revenue group. Allocation to projects.

External rental revenue group. Allocation to customers.

Default Values

Activity

Group

Value that will be used by default when allocating equipment.

Expense activity.

Expense group.

Field	Description
Project	Project to which revenues and costs related to the tool are posted. NOTE: This field is used to select a project using the Project Management option.
Revenues Activity Group (Internal) Group (External)	Revenue activity. Invoicing. Internal revenue group. Allocation to projects. External rental revenue group. Allocation to customers.
Default Values Activity Group	Value that will be used by default when allocating equipment. Expense activity. Expense group.

Enter the required information in the Miscellaneous tab:

Warranty Details section:

This section is linked to the Equipment module.

Field

Description

Number of Months

Number of months guarantee on the tool.

Meter 1

Type of meter that applies to the guarantee. Example: KM or Hrs.

NOTE: The meter code must be created in advance using the Define Usage Meter Types option.

Meter 2

2nd type of meter applicable to the guarantee.

NOTE: The meter code must be created in advance using the Define Usage Meter Types option.

Purchases and Sales section:

Field

Description

Fixed Cost Price

Fixed cost of the tool.

NOTE: This field must not be completed if the Cost Management method is AverCost (Item Description tab, Accounting Defaults section).

Quotation Price

Default quotation price. This field can be used to calculate the selling price using a discount table.

Selling Price

Default selling price.

Std Purch. Price

Default purchase price. This field can be used in Maintain Price Lists.

Last Purchase

Automatically displays the date of the last transferred purchase.

Internal Profit Rate

Mark up rate used for Internal Sales when transferring to a project.

NOTE: If the field is empty, maestro* uses the value in Configuration.

Supplier Code

Used to enter up to four supplier codes indicating where the tool can be purchased.

Item's ID code

Used to enter up to four supplier's item ID codes for this tool.

Unit price

Used to enter a unit price for each of the four suppliers.

NOTE: When an order is transferred, maestro* automatically updates the supplier and the last cost.

%Disc.

Automatic discount percent associated with the supplier.

Currency

Supplier's currency.

Last Cost

Used to enter the last cost.

NOTE: This field is automatically updated when the order is transferred.

Last Discount %

Used to enter the percentage of the last discount paid.

Internal Return Rate

Depreciation rate used when returning a tool from a project to inventory.

NOTE: If the field is empty, maestro* uses the value in Configuration.

Field	Description
Number of Months	Number of months guarantee on the tool.
Meter 1	Type of meter that applies to the guarantee. Example: KM or Hrs. NOTE: The meter code must be created in advance using the Define Usage Meter Types option.
Meter 2	2nd type of meter applicable to the guarantee. NOTE: The meter code must be created in advance using the Define Usage Meter Types option.

Field	Description
Fixed Cost Price	Fixed cost of the tool. NOTE: This field must not be completed if the Cost Management method is AverCost (Item Description tab, Accounting Defaults section).
Quotation Price	Default quotation price. This field can be used to calculate the selling price using a discount table.
Selling Price	Default selling price.
Std Purch. Price	Default purchase price. This field can be used in Maintain Price Lists.
Last Purchase	Automatically displays the date of the last transferred purchase.
Internal Profit Rate	Mark up rate used for Internal Sales when transferring to a project. NOTE: If the field is empty, maestro* uses the value in Configuration.
Supplier Code	Used to enter up to four supplier codes indicating where the tool can be purchased.
Item's ID code	Used to enter up to four supplier's item ID codes for this tool.
Unit price	Used to enter a unit price for each of the four suppliers. NOTE: When an order is transferred, maestro* automatically updates the supplier and the last cost.
%Disc.	Automatic discount percent associated with the supplier.
Currency	Supplier's currency.
Last Cost	Used to enter the last cost. NOTE: This field is automatically updated when the order is transferred.
Last Discount %	Used to enter the percentage of the last discount paid.
Internal Return Rate	Depreciation rate used when returning a tool from a project to inventory. NOTE: If the field is empty, maestro* uses the value in Configuration.

Click Save.

Rental Equipment Management

OBJECTIVE

PREREQUISITEs

Steps

Create a tool

See also