Retail vs Commercial customers

On Equipment Rental tickets there two types of Customers. Retail and Commercial. Here are summaries of the two and the financial implications. 

Retail Customers.

These are the one off customers that you may or may not ever do business with in the future. They are also likely to pay you upfront before you drop the bin, and then be reinvoiced at a later date once the equipment has been picked up and you have the final charges from your vendor (weight, days over rental, misc. charges, etc.). By selecting this type of customer, you start aging the invoice balance immediately. 

How to add these retail accounts:

1. Directly on the equipment rental page by clicking + Add Customer

2. On the left hand menu> Accounts> Customers

These will appear on the Receipts Ledger and AR aging reports as PUBLIC accounts. 

Commercial Customers.

These are customers that you consistently do business with but their service address may change. For example, if you have a contractor that uses your services at each site. They are likely to not be billed until the equipment is picked up so the AR aging for this customer starts once the close date has been entered. These types of Customers can also have payment terms, which can be set on the counterparty level and will automatically age based on the payment terms selected and the close date on the Equipment renal ticket. 

How to add these commercial accounts:

1. On the left hand menu> Accounts> Counterparty +. Select Customer as the role.  If you will be doing future business at various locations for this Customer you can add the physical addresses as Locations on the counterparty and select those on the Equipment ticket. 

These will appear on the Receipt ledger and all reports as their company name.

If you have additional questions, please contact the Support Team via email to support@cietrade.net.