Introducing FAF Profiles - the ability to define Fuel Adjustment Factor (FAF) percentages applied to activity and freight rates.
FAF is a surcharge mechanism used to adjust freight rates in response to fuel price fluctuations.
FAF Profiles allow organisations to define one or more fuel adjustment percentages for carrier partners, effective from a specified date. These profiles can then be applied to activity and freight charges on partner rate cards.
FAF Profiles
Navigate to Organisation > FAF Profiles.
This view displays all created FAF Profiles. The view can be filtered by entering a typed search, or by FAF Profile Status (Any Status, Active, or Inactive).
Viewing a FAF Profile
Creating a FAF Profile
Select the Add button, located on the top right of the view.
Enter a Name for the profile, then select the "Create Profile" button. This will create the new FAF Profile and open the FAF Profile Detail.
Configuring Rate Rows
The Rate Rows card is where rates for the profile are created.
Multiple rates can be defined within one FAF Profile.
When creating a rate row, define the:
- Carrier Partner. Target the rate to a specific carrier, or leave this field to apply to any carrier.
- FAF %. Enter the fuel adjustment percentage that will be applied when this rate row is matched.
- Effective From (UTC). The Effective From field is where the date the FAF Profile is effective from.
Select the "Save Changes" button to save the FAF Rate.
Adding a FAF Rate to a FAF Profile
Default FAF Profiles
Warehouses can have a Default FAF Profile defined.
To set a Default FAF Profile, navigate to the Warehouse Detail, select "Edit Accounting" on the Accounting card, then choose the FAF Profile from the dropdown.
Setting the Default FAF Profile for a Warehouse
The Default FAF Profile can also be defined at the Client Partner level.
To set a partner default FAF Profile, navigate to the partner detail and select "Edit" on the Financial Settings card. Choose the FAF Profile from the dropdown options.
Setting the Default FAF Profile for a Client Partner
Enabling FAF for Partner Rates
FAF Profiles must be enabled on Activity and Freight Charges before they can be applied during charge calculations.
Navigate to the Fuel Adjustment Factor (FAF) card within a charge and choose the FAF Source.
When selecting a FAF Source on a charge, the Warehouse and Partner defaults will appear for selection.
Optionally define the FAF Revenue Account and FAF Cost Centre.
Define the FAF Particulars, for example the {FAF_PERCENTAGE} Dynamic Particular.
Enabling a FAF Profile on a Rate Card
Raising FAF Charges
When a freight or activity charge is raised, Consignly determines the applicable FAF Profile from the configured FAF Source. If a matching rate row is found, the corresponding fuel adjustment percentage is automatically applied.
When viewing these charges, FAF will appear as a sub-charge to the activity/freight charge. This makes it easier to see on the transaction schedule where that FAF charge was incurred from, i.e. the charge where FAF was pulled from.
Freight charges raised on a Consignment with FAF included