Calculating The Booking Price

Last Updated: January 15, 2024 18:18

Introduction

Booking price calculation in OfficeRnD is dependent on the resource rate attached to the bookable resource (meeting rooms, desks, parking etc.) The resources could be bookable by time or by date. The resource rates can be valid for different periods of time and slots for business and non-business hours.

The goal of this article is to help you make better decisions when pricing bookings. Understanding the pricing system in Flex takes a little effort, but you will be able to operate much more smoothly!

Prerequisites

Rules

Calculating the booking price is based on these rules:

The system will always use the lowest price. It expects that the cheapest rate is the longest one e.g. if the daily and hourly rates are such that a 4-hour booking costs more than an all-day booking, the system will apply the daily rate price (if available).
Business hours matter only for half-day rates.
The daily rate is 24 hours, the weekly rate is 7 days * 24 hours, and the monthly rate is 30 days * 24 hours
The half-day rate is always used when you hit half of the location's business hours.
Hourly credits - 1 hourly credit equals 1 hour. In order to cover an all-day booking with credits, we need to have at least 24 credits. To cover a half-day booking, we need at least the half of the business hours (if available). Examples:
- If we have a space with 10 business hours and we have 25 hourly credits:
  - An all-day booking equals 24 hours and it will cost 24 hourly credits.
  - A half-day booking equals 5 hours and it will cost 5 hourly credits.
  - A half-hour booking will cost 0.5 credits if we have a hour rate specified in the resource rate.
- If we have a space with 10 business hours and we have 3 hourly credits:
  - An all-day booking equals 24 hours and will not use credits since they are less than 24 and all 24 hours must be paid.
  - A half-day booking equals 5 hours and will not use credits since they are less than 5 and all 5 hours must be paid.
  - A 4-hour booking will use 3 credits and 1 hour must be paid.
Value credits - decrease the booking price after the rate pricing is applied (1 coin = 1 system currency)

Note: It is recommended to add an hourly rate when creating a rate for resources that should be bookable by time.

Limitations

Booking a resource for an entire day (or week, or month) will cost 24 hour credits (7 * 24 for a week, 24 * 30 for a month). The business hours will not be taken into consideration.
Hourly credits will only be applied if they can cover the whole rate (1 day = 24hours, 1 month = 24 x 30, etc.) For example, if we have a daily rate and 23 credits, we are not going to be able to use them. But if we have 25 hourly credits, 24 credits will be used and 1 credit will remain.