Rental Invoices
Invoicing of the Rental Contract starts with the shipment of the document lines. If the complete quantity is shipped, the contract is ready for invoicing with its particular due date. This due date is dependent on the specific Invoice Period (see Invoicing Parameters).
The starting date of the invoice is determined by the Invoice Start Date Origin setting in Rental Setup, which can either be based on the date in the Rental Contract line or the posting date of the Shipment.
The amount that will be invoiced is calculated from the Rate Unit Price. If the rate period is Quarter, Year, or any other period that can be assembled by months, the period is divided into months in case no full rate period can be invoiced. If a division has to be done by date, the actual number of days is used to determine the price per day.
For example, if the Month Definition is set to Calendar Days, the Invoice Period is set to Month, and the Calendar Based checkbox is selected, the first invoice for a contract line from May 15th to August 31st will contain a first invoicing period from May 15th to May 31st. This means that if the Rate Unit Price is based on the monthly rate of 310.00 then:
- the daily price is 310 / 31 (number of days in May) = 10.00
- the invoicing amount calculates from 10.00 * 17 (days) = 170.00
The following table describes a sequence of tasks, with links to the topics that describe them.
| To | See |
|---|---|
| Learn the parameters used to calculate rental invoices. | Invoicing Parameters |
| Learn how invoices are calculated for uniform months. | Invoice Calculation with Uniform Months |
| Learn how to process a rental invoice. | Invoice Processing |
| Create multiple invoices simultaneously and combine multiple Rental Contracts or Rental Ledger Entries into a single invoice. | Alternative Methods for Creating Rental Invoices |
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