Profit per car with a keep, sell or buy-more hint
For any period, see each car's rent invoiced, its costs, its profit and how much of the time it was out on hire. A hint says which cars to buy more of and which to think of selling.
PLANSScale only
Why it matters
A rental company earns or loses money one car at a time. Yet most owners only see the fleet as a whole in the profit and loss. Rent is easy to see; the car's insurance, tyres, outside repairs and depreciation are scattered across bills and ledgers. SmartMy Rental puts each of those costs on the car they belong to. It sets them against the rent the car earned and the time it was really out on hire. The result is one line per car with its profit and a plain hint: buy more like it, or think of selling it. Fleet decisions at year end then rest on figures, not on memory.
The problem it solves
- The fleet makes money as a whole, but nobody can say which models pay for themselves.
- A car that spends half its life in the workshop looks fine because its rent is high when it does go out.
- Insurance, tyres and outside repairs sit in the general ledger, not against the car.
- Deciding which cars to sell at year end is a guess from memory.
How it works
- You may post a vendor bill for a car, such as insurance, tyres, registration, fuel or an outside garage. Then fill in Cost of Car on the bill line.
- Cars that are fixed assets add their posted depreciation by themselves. Repairs add the parts used, at their cost, less warranty and insurance claims paid back. Cars hired in add their supplier bill.
- Open Rental > Reporting > Profit per Car. Choose From and Until (from 1 January of this year to today, to start with). Pick a Depot if you want one, and press Work It Out.
- You get one line per car or machine, archived ones too, sorted by profit: Revenue, Cost, Profit, Hours Out, Time Out (%), Costs and Hint.
- Read the hint. Out 70 % of the time or more and making money: Busy and profitable: buy more like it. Out under 25 %, or losing money: Idle or losing: think of selling it.
Everything it does
Revenue
- Rent invoiced for the car in the period: posted invoices less credit notes
- Charges billed on top of the rent (extra km, fuel, damage, delivery, duty extras) are not counted in the car's revenue
Costs
- Supplier bill lines with Cost of Car, shown by the line's account name, such as Insurance or Tyres
- Depreciation posted on the car's fixed asset in the period
- Repairs: parts used in the car's repairs, at the product's cost; less claims paid back
- Hired in: the posted supplier bill of a car hired in from another company
- Costs shows each part, so you can see why a car makes a loss
Time out
- Hours Out: the time the car was really out on hire in the period, from going out to coming back
- Time Out (%): hours out against all the hours of the period
- A car that joined the fleet in the middle of the period counts the whole period, so it looks less busy
The hint
- Busy and profitable: buy more like it, at 70 % time out or more with a profit
- Idle or losing: think of selling it, under 25 % time out or with a loss
- Otherwise no hint; the levels are fixed, not settings
- For prices by class, Price Hints in the same menu suggests raising or discounting rates
Depot
- The Depot filter takes the cars that belong to that depot today
- A car moved between depots counts its whole period at its present depot
Who uses it
OwnerDecides which cars to keep, sell or buy more of.
Fleet manager (Rent Manager)Runs the report by depot and period.
AccountantPuts supplier bill lines on the right car with Cost of Car.
Where you use it
- Web: Rental > Reporting > Profit per Car (Rent Managers)
- Web: Cost of Car on vendor bill lines (Rent Users see the column)
- Not in the apps
What you control
Settings
- Period: from 1 January of this year to today, to start with
- Depot: empty for every depot
- Hint levels: 70 % and 25 % (fixed)
Questions
Where do the costs come from?
From vendor bill lines you mark with Cost of Car, and from the car's posted depreciation. Repairs add the parts used less claims paid back, and a car hired in adds its bill.Are extra km and damage charges in the revenue?
No. Revenue is the rent invoiced for the car. Charges billed on top of the rent are not counted per car.Is a job card from SmartMy Garage counted?
Not by itself. Put the garage's bill on the car with Cost of Car, so the cost reaches the car.Why does a new car look idle?
Time out is counted against the whole period. For a car that joined in June, run the report from June.Which plan has it?
Scale. Depreciation comes in when cars are fixed assets, which is also part of Scale.Related features
FLEET VALUEFixed assets: register, depreciation, tax book and work in progressEach car or machine can be a fixed asset in your books. It is depreciated month by month, by time or by the hours it was out on hire. The register also keeps your other assets, a tax book for income-tax depreciation by block, and capital work in progress.RATESDynamic price rules and price hints from utilisationRaise or lower the rent by a share for event dates, weekdays, last-minute or early bookings, longer rentals or when a class is already busy. Price Hints read how busy each class was on weekdays and weekends and make a rule for you to check and switch on.SERVICE AND REPAIRSRepairs, who pays, and warranty and insurance claimsA check point marked Needs repair takes the car out of service and opens a repair. You record who pays: you, the warranty, the insurer or the customer. A customer charge waits for a manager to confirm, and warranty and insurance claims are followed to paid or refused.LONG HIRES AND PARTNERSCars hired in from other companiesWhen your own fleet is full, hire a car in from another rental company and hire it on to your customer. The car joins your fleet for the agreed dates only and goes out with the same checks. Its supplier bill is made from the agreed cost.LONG HIRES AND PARTNERSUsed car sales through quotationsWhen a car leaves the fleet, Sell This Car opens a sales quotation with the car and its serial number. Confirming it stops new bookings; delivering it takes the car out of the fleet and reminds you to take its fixed asset off the books.CUSTOMERSFleet dashboardTwo ready-made dashboards open first in SmartMy Rental. Dashboard shows what is out, what goes out next, what is called off and what is not ready. Fleet shows the yard: ready, on hire, in turnaround, out of service, and papers by type.
See your fleet on it.
Tell us how many cars or machines you hire out, from how many depots, and how bookings reach you today. We will set up your fleet with you on SmartMy Rental.