What is this?
The Rental Report shows what you spend on rented equipment. It totals the rental cost for a month or a year, charts the trend over time and breaks the cost down by vendor, project, division or asset. Use it to control rental spend and to find rentals that cost more than they should.
Who's this for?
- Equipment managers, track what the company spends on rented machines.
- Project managers, see the rental cost of each project.
- Finance and accounting, review rental spend by vendor or by month.
- Owners and executives, follow the rental trend and decide when to buy instead of rent.
How to use it
Step 1: Open the report
In the main menu, go to Insights > Reports and click Rental Report. The report opens on the Spending tab of Rentals.
Step 2: Pick the month or the year
Click the date button and choose Month or Year, then pick the period. The report opens on the current month.
Step 3: Choose how to group the costs
Click Data Structure. Check the levels you want, for example Vendor and Asset, and drag them into the order you want. Click Save.
Step 4: Read the Rental Spending chart
Rental Spending shows the Total Cost and the # of Assets for the period. Each bar is one group of the first level, with its cost and its share of the total. Use the menu on the card to switch between Rental Cost and Number of Rental Assets.
Step 5: Follow the trend
Historical Rental Spending shows the cost month by month, from 13 months ago up to this month. In the Year view, it shows the last 5 years. It starts with Company Total. Use the menu on the chart to add groups and compare them.
Step 6: Drill into the table
The table lists Units, Rental Cost and Operating Hours for each group, with a Grand Total at the top. Click the arrow next to a group to see the rows inside it.
Step 7: Filter the report
Click Filters to narrow the report by Affiliated Organization, Project, Vendor or Asset Type.
Step 8: Download or share
Use the icons at the top right. The download icon gives you Download .xls or Download .csv. The share icon emails the report.
The full details
- Where to find it: Insights > Reports > Rental Report, or Rentals > Spending, in the web app.
- Rental Cost: the rental cost charged for each rented machine in the period, month by month.
- Operating Hours: the hours the rented machines ran in the period, from telematics.
- Data Structure levels: your organization levels, Project, Vendor, Asset Type Category, Asset Type and Asset. The chart groups by the first level you choose.
- Unassigned: rentals with no value for that level, for example a rental with no vendor.
- Date range: a full month or a full year. Future months are not available.
- What you see: only the rentals and projects your role lets you see.
- Rental Rate Library: the button at the top opens your rental rates, if your role has access.
- Visibility: the report shows in your menu only when your company has it turned on.
Tips
- Group by Vendor before you call a rental company, so you know what you spend with them.
- Rentals with high cost and few operating hours are the first ones to send back.
- Switch to Year to compare full years of rental spend.
- Group by Project to check rental cost against each job budget.
