Use rates to tell Current RMS how you charge for a product. Every rental product must have a valid rental rate in order to be added to an opportunity.
Current RMS provides extensive options for configuring and customizing rates. In addition to basic setups, you can create flexible pricing structures tailored to different rental durations and business needs.
Get started
To add a new rate, click add a new rate under the Rates heading on a product page.
You’ll see the “Create Rate” screen.
Choose store
Stores let you specify multiple locations where stock levels are held, for example different warehouses. Opportunities have a store against them, and stock levels from that store can be used on that opportunity.
Select a store from this list to apply this rate to a particular store.
Leave the option blank to set up a global rate that applies to all stores.
Transaction type
If your product is set up with an allowed stock type of “all,” choose either rental or sale here.
Rate definition and price
For rental transactions only. A rental rate definition determines how a rental charge is calculated. For example: daily, weekly, hourly, or a fixed rate.
Additionally, you can configure daily rates to transition automatically into weekly rates. For example, you can set daily rates to amount to 80% of a weekly rate for up to 4 days, and apply the full weekly rate starting from day 5.
Choose a rate definition from the list here.
To add new rate definitions, head to System Setup > Rental Charging Setup.
If you require multiple rates for the same product, such as having both a weekly rate and a day rate multiplier, you can accomplish this using the Packages and Kits feature. Set up a package with the desired default rate, and add alternate rates by configuring the product as an accessory within the package. See the Current RMS Guide on Packages and Kits for detailed instructions.
Valid from and valid to
For rental transactions only. When should this rate apply?
Leave the valid from and valid to fields blank to specify that this rate applies for all time. This is the most common option.
Set a valid from date to say that this is only valid after a particular date.
Set a valid to date to say that this is only valid until a particular date.
Price categories
Price categories let you set up multiple price lists in your Current RMS system. You can set up price categories in System Setup, apply these to organizations in People & Organizations, then set a different rental or sale price for each category here.
Check out our full guide on price categories, see: Price categories
To manage flexible pricing for non-standard structures like charging a flat rate for a 3-day week while allowing 1-2 days separately, adjust the chargeable days directly within an opportunity. Open the opportunity, click the pencil icon near the chargeable days field, and set the days as required for accurate custom pricing.
Next steps
If you haven’t already, add stock levels to your product.
Advanced Rate Configuration
Setting Daily Rates to Automatically Calculate Weekly Rates
Follow steps to configure a system where daily rates automatically transition into weekly rates for appropriate durations. See 'Rental Charging Setup' in Current RMS.
Managing Multiple Rates for the Same Product
Leverage the Packages and Kits feature for products requiring multiple rates and reference our Packages and Kits Guide.
Customising Chargeable Days for Flexible Pricing
Adjust chargeable days directly within an opportunity for non-standard pricing needs.