In this article you will learn how the actual costs of a project, and the usage percentage of the statistics module are calculated.
Project's Actual Cost
The “actual equipment costs” on a project are calculated based on subrentals made on the project itself. Calculating the costs that the project makes is based on several things, such as the duration of the subrental, the duration of the project that equipment is reserved on, and possibly additional costs.
Subrental costs are calculated per equipment item that is subrented. Per item, the following formula is used to calculate the actual costs for that item.
(average price attached to subrental equipment per day) * (amount of reservations on subrental) * (amount of days used for the project).
This means the following is taken into account:
If a subrental contains a line with 2 speakers, and only 1 is reserved on a project, then only 1 will be charged to that project
Subrental costs also look at the timeline: one equipment can be charged to two different projects, but the costs will be calculated according to the planning period. If you have a long running subrental (days 1-10) containing 1 line with 1 speaker, and the speaker gets reserved to project 1 which runs for a short period (days 2-3) and also gets reserved to project 2 which runs for another short period (days 5-6), then projects will only get charged for 2 days of using the subrental.
This calculation also takes partial days into account: if you reserve a subrented item on a project that only lasts 23 hours, and the subrental lasts 24 hours, then the project will be charged for 23/24 (~96%) of the subrental price.
Any additional costs of a subrental are divided by the equipment lines in the subrent based on the total costs of the item lines.
I have a subrent containing 2 items.
The LCD screen is reserved on a project. The QSC speaker is not. The LCD screen makes up 10% of the total subrent price. The speaker makes up 90% of the subrent price. The Additional costs of the subrental are set at €100,-, so the financial part looks as follows:
Now the additional costs need to be divided between all the items in the subrent. This results in the following calculation:
| Costs of subrenting LCD screen | €10,- |
| Additional costs | 10% of the additional costs = €10 |
| Total | €20,- |
Once the speaker is reserved on a project, the other 90% of the additional costs is calculated to that project.
Consider the next subrental, that has a planning period of January 1st until January 10th
There are now 2 LCD screens making up 20% of the total price.
Now consider the following two projects:
- Project 1, planning period of January 1st until January 2nd
- Project 2, planning period of January 5th until January 7th
Let’s say 1 of the LCD screens is reserved on Project 1, and the other is reserved on Project 2. An additional cost of €100,- is set on this subrental. Now the following calculation happens on project 1:
| Total costs of subrenting 2 LCD screens for 10 days | €20,- |
| Total costs of subrenting 1 LCD screen for 10 days | €10 |
| Total costs of subrenting 1 LCD screen for 1 day | €1 |
| Total costs of subrenting 1 LCD screen for 2 days | €2 |
| Total costs of subrenting 1 LCD screen for 3 days | €3 |
This means that:
- Project 1 will be charged €2
- Project 2 will be charged €3
Statistics Module - Usage Percentage
In the Statistics module, there is a column called Usage %. This refers to the percentage of the time the equipment was used during the selected time period. The following formula is used to calculate the usage percentage:
Usage percentage: (Total planned time in hours / total time that you can plan an item)/24 * 100
Quantity of items planned * length of planned period within selected timeframe.
Total quantity of equipment in database * length of the selected timeframe
Let's use this single equipment as an example
In order to get the total planning time, we must first covert the planning time to hours:
- Planned time is: 5days * 24 + 18hours = 138 hours
- Total time you can plan = a total of 20 items in the database * 1 day (1 October) = 20
- Input the numbers into the formula: (138 hours / 20)/24 * 100
- 138/20 = 6.9
- 6.9/24 * 100 = 28.75%
Usage percentage for this equipment for 1 day on October 1st is 28.75%.