PRODUCT DETAILS - THIRD TAB

Overview

Accessed via Fleet System Management / Miscellaneous Options / Posting Controls / Product Details and selection of the Third Tab .

The First to Fourth Tabs deal with the elements that are to be split out from the total rental to produce a separate rental that may have a different VAT assumption. Currently, for a qualifying vehicle it is required that the rental be split over two elements i.e. those parts of the rental that can be considered maintenance items and those that can be considered part of the finance. 

The splits are already determined within the Product within the Fleet Quotations module but should be mirrored here.

• VAT Assumed

The VAT Assumption code used by the system when splitting out this part of the rental for invoicing. VAT assumption codes are linked to VAT Rate codes held in the Nominal Ledger. For example, if the Third rental split denotes the finance rental then the VAT assumption code may well be F (Finance Element); in turn, this code is associated with the normal VAT code of S (Standard Rate), within the Nominal Ledger, which is applied to the rental line.

Totals Included in Rental

The fields below cover all of the elements used to calculate the total rental. If, in the General Tab a T (Totals) is selected in the Basis field then access is enabled to these elements which are then used to calculate this portion of the rental. For example, if the Third rental split is defined as the F inance split of the total rental then a Y value should be selected for the Depreciation, RFL and Finance elements below. If this product is then selected within a quotation, the system strips out the values for each of the selected elements from the total and calculated this (i.e. Finance) portion of the rental.

• Maintenance

The maintenance element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the maintenance element of the rental is to be included within the Third split then the Y option should be selected.

• Depreciation

The depreciation element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the depreciation element of the rental is to be included within the Third split then the Y option should be selected.

• Tyres

The tyres element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the tyres element of the rental is to be included within the Third split then the Y option should be selected.

• Relief

The relief element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the relief element of the rental is to be included within the Third split then the Y option should be selected.

• Motor Club

The motor club element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the motor club element of the rental is to be included within the Third split then the Y option should be selected.

• RFL

The Road Fund License element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the Road Fund License element of the rental is to be included within the Third split then the Y option should be selected.

• Insurance

The insurance element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the insurance element of the rental is to be included within the Third split then the Y option should be selected.

• Handling

The handling element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the handling element of the rental is to be included within the Third split then the Y option should be selected.

• Finance

The finance element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the finance element of the rental is to be included within the Third split then the Y option should be selected.

• Other Costs

The other costs element of the rental. The down-arrow immediately to the right of this field displays a drop-down-list with the following selections:

• Y (Yes)
• N (No)

If the other costs element of the rental is to be included within the Third split then the Y option should be selected.

• Percentage

If, in the General Tab a P (Percentage) is selected in the Basis field then access is to the elements displayed above is disabled. In this case, within this field a percentage of the total rental is specified which represents the Third rental split that is associated with the VAT assumption entered earlier in the Tab.

If only one rental line split is required on the invoice then this field should hold a value of 100 (100% of the total rental). If a split on the rental is required then the appropriate percentage must be entered. It is important to remember that the percentage total over the four possible rental splits must add up to 100% or the system does not allow the record to be saved.

This field is disabled if, in the General Tab T (Totals) is selected in the Basis field.

• Rental Expense Code

The Nominal Ledger expense code used when the Third rentals split values are posted to accounts.

Within the Product the Rental and Income values may be posted to different Nominal Ledger codes whereas in the Lease Definition they are lumped together.

Selection of the ellipsis button displays an Expense Code List Box that enables selection of the required Nominal Ledger expense code for the rental value.

Within the blank field at the top of the list box some or all of the required expense code shortname may be entered and the Shortname command button selected. All of the account codes with a shortname that meets the entered criteria are displayed in the list box below. The required code should be selected with the mouse and the OK command button used to confirm this selection.

Alternatively, this field may be left blank and selection of the Shortname command button then displays all current expense codes in alphanumeric order and the scroll bar to the right of the form used to locate the required code.

• Income Expense Code

The Nominal Ledger expense code used when the Third income split values are posted to accounts.

Within the Product the Rental and Income values may be posted to different Nominal Ledger codes whereas in the Lease Definition they are lumped together.

Selection of the ellipsis button displays an Expense Code List Box that enables selection of the required Nominal Ledger expense code for the income value.

Within the blank field at the top of the list box some or all of the required expense code shortname may be entered and the Shortname command button selected. All of the account codes with a shortname that meets the entered criteria are displayed in the list box below. The required code should be selected with the mouse and the OK command button used to confirm this selection.

Alternatively, this field may be left blank and selection of the Shortname command button then displays all current expense codes in alphanumeric order and the scroll bar to the right of the form used to locate the required code.