Stand Downs with Discounted Rate

In the hire industry, charging stand-downs at discounted rates is a common practice to accommodate various scenarios. This document outlines three methods to effectively charge stand-downs at discounted rates in HirePOS.

The partial stand-down method is the quickest and easiest way to stand down an item at a discounted rate while ensuring all revenue is allocated to the equipment. This method deducts the stand-down period from the overall hire period when recalculating charges. To apply a partial stand-down:

• Enter the start date and the time span you want to discount.

• Adjust the time span based on the discount rate.

For example, a 10-day stand-down at a 50% rate would require a time span of 5 days. The formula for calculating the time span is provided for reference.

The non-stock item method allows for stand-down charges but does not allocate revenue against the specific equipment. To set up a stand-down item:

• Create a selling unit and a stand-down item in the HirePOS system.

• Enter a sales prompt to indicate the discounted price needs to be manually entered.

• In the invoice screen, add the stand-down item and adjust the quantity and rate accordingly.

This method is useful when revenue allocation across equipment is not a concern.

The split hire method involves creating multiple invoice lines for the same equipment to handle stand-down periods. This method requires:

• Closing off the current hire on one line.

• Creating a new line for the stand-down period at a different rate.

• Adding another line at the original rate once the stand-down is completed.

By using this method, stand-downs are treated as additional invoice charge lines, eliminating the need for separate stand-down records.

Each method for charging stand-downs at discounted rates in HirePOS offers unique advantages based on the specific requirements of the hire scenario. Whether you opt for the partial stand-down, non-stock item, or split hire method, understanding the intricacies of each approach will help you effectively manage stand-down charges while maintaining accurate revenue allocation.