To access this feature, select the Toolkit 
option on the main menu bar. You will see the following window:
Highlight "Calculate Fleet Rate" and select Execute. The system will run the calculations for Depreciation Amount, Book Value, and Hourly Cost. After the Toolkit has ended its run, refresh the record to view the final calculations. These calculations are described below.
Depreciation Amount
This is a straight-line depreciation amount that the system calculates in the following manner:
- Determine TMD: Service Life*12 = Number of Months for Depreciation
- Determine Date of Last Full Month (LFM): e.g. if System Date = 4/7/2005 then LFM = March 31, 2005; if System Date = March 31, 2005 then LFM = February 28, 2005.
- Determine First Month of Depreciation (FMD) and set to the first day of that month: e.g. April 14, 2001 would be set FMD to 4/1/2001 and April 16, 2001 would be set to 5/1/2001.
- Determine months between LFM and FMD = MD
- Final Calculation: (MD(Purchase Amount - Salvage))/TMD = Depreciation Amount
Book Value
Reflects the remaining value using the following calculation:
Purchase Amount - Full Depreciation Amount = Book Value
Hourly Cost
Takes into consideration all vehicles in the class with an operating status less than 950. This calculation totals all costs spent on a vehicle. That number is then divided by the total average hours to reach the Hourly Cost value.
Total Costs/Total Average Hours = Hourly Cost
- Total Costs = Sum of (FL_AMTCST)
- Total Average Hours = Sum of (FL_USEHRS * ((Current Date - FL_REC_DT)/365)
Note: This calculation is performed by the Toolkit Function, "Calculate Fleet Rate".