Long-term Rental: Rent Out Equipment
Tips and Notes | View the Equipment Out | Rental Returns
Pro
Use this procedure to rent out long-term rental equipment. This example is for piano rentals by the month; adjust for your needs.
To rent out a piano:
Make sure you have defined the piano rental inventory items and preferences as described here.
Start a new sales order:
Set the Status field to "Rented"
List a "Rental Piano" item with a quantity of one. Also, enter the serial number, if set up to prompt for it.
List the "Piano Rental Charge" item with a quantity equal to the total rental period anticipated (number of months, the number you enter isnt important, you can edit it later to add or remove months).
List the "Rental Piano Deposit" item on the order, if applicable.
List the customer information. Make sure the customers record is flagged "Use with QuickBooks".
Record other pertinent information (delivery, etc.) in the Instructions field.
Select Save.
Note: Depending on your sales order deposit preference settings, you may be prompted to enter a deposit. If you listed an equipment deposit item on the order, enter $0 as the deposit amount. The deposit item amount will be applied in the next step.
With the sales order displayed, select Sell Items from the sales order I Want To menu.
In the Select Items to Sell dialog, enter 1 in the Doc Qty column for each item (Rental Piano, Piano Rental Charge, and Piano Rental Deposit, as applicable). This will create a receipt charging the customer for the equipment deposit and the first months rental charges.
"Selling" the rental piano itself will reduce the quantity of this item in inventory, so you can tell at a glance if you have additional pianos available to rent. However, since it has a cost and price equal to zero, "selling" it has no effect on sales or inventory value.
Accept payment and update/print the receipt for the customer.
You can also print the sales order for the customer, if desired. You may do this so the customer has a record of the anticipated length of the rental, the total estimated charges over the rental period, and any information you have entered in the Instructions field.