Accurately calculating the pricing of your equipment for hire is one of the most critical components in HireTrack. Different companies have different price calculation methods, and HireTrack has been designed to be as flexible as possible.
A Price Scheme is a method used to determine what to charge a customer for a particular type of equipment for a specified period of time. A regular standard in the industry is the "3 day week", whereby the rental price for a piece of equipment is the same if you rent it from 3 days up to 7 days. A Price Scheme will need to be assigned to every type of equipment such that HireTrack will know how much to charge. It is possible to assign as many price schemes as needed using a combination of the currency function and the extended pricing function.
HireTrack calculates prices by 1) counting the number of days (Hiredays) that the equipment will be out and 2) it then 'looks up' how much to multiply the daily rate by for that period. For instance, many companies charge a 3 day rental week. So, using a $10.00 daily rate, the rental for 1 rental day would be $10.00. The rental for 2 days would be $20.00, but the rental for days 3 through 7 would be $30.00. However, you may wish to charge a different price scheme for different Types of equipment.
All of the pricing information for your equipment is stored on the General Tab of the Types page of the equipment as shown in the highlighted area.
