With the Daily Multiplier and Factor Rate Engine, you can:
- use multipliers to determine what the charge is multiplied by on each day of the rental
- use factors to increase or decrease the charge based on the total length of the rental
Multipliers determine what the charge is multiplied by on each day of the rental. For example, if you have ten day rental, Current will look through the list of multipliers and multiply the charge by the number set in “Day 10”.
Here’s how a three day week might look:
Day 1: 1
Day 2: 2
Day 3: 3
Day 4: 3
Day 5: 3
Day 6: 3
Day 7: 3
Day 8: 4
Day 9: 5
Day 10: 6
Day 11: 6
Day 12: 6
Day 13: 6
Day 14: 6
Day 15: 7
Day 16: 8
Day 17: 9
Day 18: 9
Day 19: 9
Day 20: 9
Day 21: 9
On day 10, Current will multiply the charge by 6, effectively charging for six days.
If there’s no entry for day 10, Current will multiply by the last day found. This means you’ll need to add as many days as your longest single period of rental.
Factors can be used to decrease or increase the rental charge based on the total length of the rental period.
The default entry sets the factor to 1 for the first day of rental and all others (‘to’ is left blank which means forever).
For example, to offer a 10% discount if a rental is two weeks or longer, you could do something like this:
From: 1 To: 13 Factor: 1
From: 14 To: Factor: 0.9
You cannot have gaps in the factor sequence and only the last factor entry can have a blank ‘to’ value.
The number of days to charge is based on whole days; the start & end times aren’t taken into consideration.
24 hour clock
The number of days to charge is based on 24 hour periods; the start & end times are used to calculate rental charging.
For example, a rental that starts January 2nd at 11am and finishes on January 3rd at 9am would be considered two days rental when using “calendar day” since it falls over two whole days, and would be one day of rental because the end time is earlier than the start time.
Rental days per week
Use this option to determine whether weekend days are considered chargeable.
- If you do not charge for Saturday or Sunday, set this to 5.
- If you do not charge for Saturday, set this to 6.
- Otherwise, leave at the default value of 7.
This option is only used when the day type is set to 24 hour clock. It adds a grace period or tolerance to the end of a rental.
For example, if a rental that starts January 2nd at 11am and finishes on January 3rd at 11:30am then the total rental period is 1 day and 30 minutes. This is considered two days of rental charge. However, if you set 60 leeway minutes then the same period would be considered one day of rental charge as 30 minutes is less than the leeway minutes.
First & last day cut-off times
These fields give you the option to ignore the start or end day based on the cut-off times you select.
- If you enter a first day, the charging start date is advanced to the start of the next day if it's after the cut-off time.
- If you enter a last day, the charging end date is advanced to the end of the previous day if it's before the cut-off time.