Price Term Codes
The lookup list of pricing periods (Day, Week, Month, Quarter, Year) used across Rental Setup, Item Groups, Item Types, Rental Items, price-list lines, and rental document lines. Each Code carries a date formula that defines its length.
How it fits in
A Price Term is the unit a rental's price is expressed in (e.g. £100 per Day, £600 per Week). Every rental line carries a Price Term, and that Price Term must be one of the codes on this list. The list is small (typically 5-7 entries covering Day, Week, Month, Quarter, Year, plus any custom periods you need).
Set up the standard Price Term Codes once during onboarding (the Setup Wizard's Default Price Terms option creates them for you), then leave them alone. New entries are only needed if your operation prices on a non-standard period (e.g. a 14-day fortnight, or a 28-day banking month).
Visible columns
DAY, WEEK, MONTH, QUARTER, YEAR. The Code is what shows on rental lines, price-list lines, and the rental documents the customer eventually sees.1D for Day, 1W (or 7D) for Week, 1M for Month, 1Q (or 3M) for Quarter, 1Y (or 12M) for Year. Drives the period calculation when a rental's days are converted into Price Term units for billing.Where Price Term Codes appear
Price Term Codes are referenced from several places in the data model:
Rental Setup: Default Price Term Code on the General FastTab is the Price Term applied to new Item Groups by default.
Rental Item Groups: Price Term Code cascades down to Item Types and Items.
Rental Item Types: inherits Price Term from the Group; overrideable.
Rental Items: inherits from the Type; overrideable.
Rental Price Lists: each price-list line carries the Price Term its Unit Price applies to.
Rental Order: each rental line carries a Price Term that combined with Unit Price and the rental period gives the Term Amount.
Multi-Rate Pricing: each multi-rate band carries a Price Term (currently always Day for MVP).
Adding a non-standard Price Term
If your operation needs a custom Price Term (e.g. a 14-day fortnight rate), add a new entry:
On the Price Term Codes list, add a new line. Code = FORTNIGHT (or similar), Description = "Fortnightly".
Enter 14D in Price Term Calc. Method. This tells the system one fortnightly Price Term equals 14 days for period calculations.
If revenue from this Price Term should be deferred and recognised across the 14 days rather than at posting, set the Default Deferral Code to a Business Central Deferral Template configured for that pattern.
The new Code is now available wherever Price Term is selected: on price-list lines, on rental lines, as a default on Item Groups / Types / Items.
Related pages
- Rental Price Lists: where Price Term combines with Source and Product to form a price-list line.
- Multi-Rate Pricing: where Price Term appears on each multi-rate band.
- Rental Setup: where the Default Price Term Code is configured.
- Rental Item Groups: where Price Term cascades from to Item Types and Items.