Walkthrough: Post Rental Invoices

In this topic, we take you through the steps to use the COSMO Rental demo data to post rental invoices when the item is rented and when the item is returned.

Scenario 1 – Create a rental invoice when the item is rented

In this scenario, we create the first invoice while the item is being rented. The customer's contract already exists and must be shipped before the invoice is posted.

Steps

Follow these steps to create the invoice when the item is rented.

Open the rental contract

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter Rental Contracts, and then choose the related link.
  2. Open contract number REN‑DEMO-00001.

Verify contract details

  1. Confirm that the contract's customer number is R‑C‑4000.
  2. Ensure that the rental line shows item number R‑I‑000001 Kayak.

Release and ship the rental contract (if not already done)

  1. On the Home menu, choose the Post action.
  2. Choose the Post Shipment option to post the shipment using the item journal.

Set the rental return date

  1. In the Lines FastTab, go to the rental item line (R‑I‑000001 Kayak).
  2. In the Rental Return Date field, enter 2025-11-30.

Create the rental invoice

  1. On the Home menu, choose the Post action.
  2. Choose the Create Invoice option.
  3. In the Create Rental Invoices request page:
    • Verify/update the Posting Date field to 2025-11-15.
    • Verify/update the Invoice To Date field to 2025-11-15.
    • Choose the OK button to generate the invoice.

Review and post the invoice

  1. On the Related menu, choose Documents > Invoices.
  2. Open the invoice to review all charge details.
  3. On the Home menu, choose the Post action and then choose the Yes button to post the invoice.

Scenario 2 – Create the final invoice when the item is returned

In this scenario, we generate the final invoice after the rental item has been returned.

Steps

Follow these steps to create the invoice after the rental item is returned.

Open the rental contract

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter Rental Contracts, and then choose the related link.
  2. Open contract number REN‑DEMO-00001.

Enter return information on the rental item line

  1. In the Lines FastTab, go to the rental item line (R‑I‑000001 Kayak).
  2. In the Rental Return Date field, enter 2025-11-30.

Post the rental return

  1. On the Home menu, choose the Post menu.
  2. Choose the Post Return option to post the return using the item journal.

Generate the final invoice

  1. On the Home menu, choose the Post action.
  2. Choose the Create Invoice option.
  3. In the Create Rental Invoices request page:
    • Verify/update the Posting Date field to 2025-11-30.
    • Verify/update the Invoice To Date field to 2025-11-30.
    • Choose the OK button to generate the final invoice.

Review and post the final invoice

  1. On the Related menu, choose Documents > Invoices.
  2. Open the final invoice to review all charge details.
  3. On the Home menu, choose the Post action and then choose the Yes button to post the invoice.

Confirm completion

  • Verify that the final rental invoice has been posted and that the rental contract now fully reflects the returned item.
  • Check that the Rental Status field on the line has been changed to Finished.

Results

By following these steps exactly, you will have:

  • Created and posted a rental invoice during the rental period (Scenario 1).
  • Processed the final return and posted the final invoice once the kayak is returned (Scenario 2).

See Also

Introduction to COSMO Rental
Contracting


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