Rental Contracts
In the Rental Contracts page, enter the item/machine to be rented, the period of renting and invoicing, and the price for the rate period. In addition to the Rate Code, the Rental Start Date, Rental End Date, Rate Unit Price, and Invoicing Period are entered. The appropriate current period for invoicing is retrieved from the information entered in the Invoice Period and Calendar Based fields. The price for this period depends on its length and the price for the rate period.
Rental Contracts are accessed using Tell Me. Choose the 
icon, enter Rental Contracts, and then choose the related link.
Rental Contract Page
The Rental Contract page contains the same fields as the sales order, plus the rental-specific fields, which are described with other relevant fields in the following sections.
General FastTab
The fields on the General FastTab relevant for a Rental Contract are described in the following table.
| Field | Description |
|---|---|
| Customer No. / Customer Name | Indicates the number and name of the customer who will receive the rental items and be invoiced by default. |
| Address .. Contact | Identifies the contact information for the Rental Contract. |
| No. of Archived Versions | Indicates the number of archived Cental Contract versions (see Archive Rental Documents). |
| Rental Billing Unit | Indicates the Rate Unit Price on the rental line as set up in the Rental Price List page. Defaults from the Def. Rental Billing Unit field in the Rental Setup page but can be changed as needed. |
| Rental Start Date | Indicates the beginning of the Rental Contract period. This date is included in the item availability and is integral with the invoicing functionality (see Invoicing Parameters). |
| Rental End Date | Indicates the end of the Rental Contract period; this date is optional and can be added manually before shipping; after shipping, this field has no influence on the Rental Contract lines. |
| Invoice Period | Determines how the periods on the invoice are created. The options are Day, Week, Month, Two Months, Quarter, Half Year, Year, and Fixed Rate. For more information, see Invoicing Parameters. |
| Rental Status | Indicates the overall status of the Rental Contract based on the Rental Status in the lines (see Rental Status). This field is also on the Rental Contracts page. |
| Transport Chargeable | Determines if the customer will be charged for transport costs. For more information, see 3rd Party Transport. |
| Prepaid | Determines if invoices are created on the day the item is shipped or the starting date of the rental period, depending on settings in Rental Setup. This toggle can be turned on automatically for all Rental Contracts via the Def. Prepaid setting in the Rental Setup page. For more information, see Prepaid Invoicing. |
Lines FastTab
The fields on the Lines FastTab are described in the following table.
| Field | Description |
|---|---|
| Rental Status | Indicates the current processing status of the Rental Contract line (see Rental Status). |
| Rental Position | Identifies if the line is a Rental or Sales item or a Rate Component. Each option filters the Item No. or Rate Component No. list accordingly: - Rental shows rental items - Sales shows all items - Rate Part shows rate part rent rate components - One-Time Invoicing shows one-time invoicing rent rate components |
| Type | Identifies what is being rented or sold. The options are G/L Account, Item, and Resource. |
| No. | Number of the G/L Account, Item, or Resource. |
| Rate Component No. | Contains the number of the Rate Component if the Rental Position field is set to Rate Part or One-Time Invoicing. These lines are related to the item line above. |
| Description | Description of the G/L Account, Item, or Resource. |
| Location Code | Defaults from the Rental Location Code field on the Rental FastTab. If a Rental Location Code is specified on the Rental FastTab on the Customer Card, it defaults to this field. For Rental line types, this field must indicate the proper rental location to process the Rental Contract. |
| Customer Location Code | Defaults from the Customer Location Code field on the Customer Card. This field must be filled in to process the Rental Contract. |
| Quantity | Number of units to be rented or sold. |
| Unit of Measure Code | Measurement of units to be rented or sold. |
| Rental Billing Unit | Determines the Rate Unit Price on the rental line as set up in the Rental Price List page. Defaults from the General FastTab or the rental item/machine if one was specified. |
| Invoice Period | Determines how the periods on the invoice are created. The options are Day, Week, Month, Two Months, Quarter, Half Year, Year, and Fixed Rate. For more information, see Invoicing Parameters. |
| Calendar Based | If selected, invoices are geared toward the calendar month. For example, if the contract period is 5/15/2022 through 08/31/2022 and this checkbox is selected, the first invoice period will be from 05/15/2022 through 5/31/2022, and then the next period will be 06/01/2022 through 6/30/2022, and so on. The price on the first period will be prorated accordingly. For more information, see Invoice Periods and Calendar Based Date Calculations. |
| Deposit | Specifies whether the rental item requires at least a deposit posting, with or without payment, prior to shipping. For more information, see Deposits. |
| Prepaid | If selected, invoices are created on the day the item is shipped or the starting date of the rental period, depending on settings in Rental Setup. For example, if the contract period is 5/15/2022 through 6/30/2022, invoicing is based on shipment date, and this checkbox is selected, the first invoice period will be from 5/15/2022 through 5/31/2022 and the invoice will be due 5/15/2022. For more information, see Invoice Periods and Prepaid Date Calculations and Prepaid Invoicing. |
| Min. Rental Period | Specifies the minimum rental period to be initially invoiced, regardless whether invoices are created calendar based or not, or whether the rental item is returned earlier. For more information, see Minimum Rental Periods. |
| Rental Start Date | Beginning of the Rental Contract period. This date is included in the item availability and is integral with the invoicing functionality (see Invoicing Parameters). |
| Rental End Date | End of the Rental Contract period; this date is optional and can be added manually before shipping or via the Rental Extension function after shipping. If left empty, the Total Price is calculated for one Rate Period on the document line and in page totals. |
| Rate Unit Price | Price from the Rental Billing Unit/Rental Price combination set up for the rental item. |
| Unit Price Total Rental Time | Total price for the complete rental duration: Number of Rate Periods resulting from the Rental Start Date and Rental End Date fields * Rate Unit Price For example: - If Rental Billing Unit = MONTH, Rental Period = February 1 – February 28, and Rate Unit Price = 300, then the Unit Price Total Rental Time = 300. - If Rental Billing Unit = DAY for the same period (28 days), and Rate Unit Price = 9.5, then Unit Price Total Rental Time = 266 (28 * 9.5). The total is also based on whether the Calendar Based checkbox is selected (see Invoices). |
| Amount Total Rental Time | Total price based on the following calculation: Quantity * Unit Price Total Rental Time - Rental Line Discount Amount |
| Unit Price | Specifies the price for one unit on the Rental Contract line. Used with Sales and One-Time Invoicing rental positions. |
| Line Discount % | Specifies the discount percentage that is granted for the item on the line. |
| Rental Line Discount Amount | Specifies the discount amount that is granted for the rental item on the line. |
| Line Amount | Specifies the net amount, excluding any invoice discount amount, that must be paid for products on the line. Used with Sales and One-Time Invoicing rental positions. |
| Total No. of Rate Units | Indicates the total rental time calculation and the quantity of rate units as determined by the Rental Start Date and Rental End Date. Show this field using the Personalize function. |
| Rental Return Date | Used with the return of the rental item (see Returns). |
| Qty. to Ship / Quantity Shipped | Indicates the number of rental items/machines to ship or were shipped to the customer. |
| Qty. to Invoice | Indicates the number of rental items/machines to be invoiced to the customer. |
| Return Qty. to Receive / Return Qty. Received | Used with the return of the rental item (see Returns). |
| Deferral Code | Used for prepaid rental contracts to distribute the prepaid amount over a period of time as defined in the deferral template, for example, evenly over different months. |
| Qty. Extensions | Indicates the number of extensions that have been processed for the order line (see Extensions). Show this field using the Personalize function. |
| Next Invoice Period | Indicates the next period to be invoiced after an invoice has been created. This field must be shown using the Personalize function. |
| Cascaded Price / Qty. Failures / Invoice Multiple / Invoice to Date / Invoiced to Date / Sell Item from Rental / Calendar Code / Rental Shipment Time / Rental Return Time / Percentage of Item Rate | These fields currently have no functionality. |
Actions on Lines FastTab
Actions on the Line and Functions menus on the Lines FastTab relating to COSMO Rental are described in the following table.
| Menu | Action | Description |
|---|---|---|
| Line > Functions | Create Purchase Order | Creates a purchase order for a 3rd party rental. For more information, see 3rd Party Rental. |
| Sales Calculation | Opens the Sales Calculation Overview page where you begin the process for selling a rented item to the customer. NOTE: The Sell Item from Rental checkbox must be selected on the line to use this function. For more information, see Sales Calculation. |
|
| Exchange Rental Item | Depending on the Transfer Posting in Rental Setup, will either create transfer orders or open a dialog box for exchanging a rented item with a new item. For more information, see Exchange Items. | |
| Rental Extension | Opens a dialog and then opens the Rental Extension Card page where you enter the new ending date for the rental line. For more information, see Extensions. | |
| Loss Worksheet | Opens the Rental Loss Worksheet – filtered on all Rental Status Lines and attached rate parts for the current Rental Contract line – where you enter the loss information. For more information, see Losses. | |
| Split Line | Opens the Split Rental Line page where you can split an existing rental line, which is useful when needing to ship to/from separate locations. For more information, see Split Rental Line. |
|
| Line > Related Information | Item Tracking Lines | Opens the Item Tracking Lines page where you assign serial numbers to the rental items/machines. |
| Rental Ledger Entries | Open the Rental Ledger Entries page, which shows rental periods and pricing information for the posted shipments, invoices, and returns for the rental line. NOTE: Rental Ledger Entries can also be accessed using the Tell Me feature. |
|
| Rental Status Lines | Opens the Rental Status Lines page, which shows current information about the rental line, including serial number. NOTE: Rental Status Lines can also be accessed using the Tell Me feature. |
|
| Rental Value Entries | Opens the Rental Value Entries page, which shows cost and asset information for the rental line. | |
| Posted Deposits | Opens the Posted Rental Deposits page, which shows all deposits for the Rental Contract line. For more information, see Deposits. | |
| Rental Purchase Orders | Opens the Rental Purchase Order page for an order created for 3rd party rentals for the rental line. For more information, see 3rd Party Rental. | |
| Invoice Lines | Opens the Rental Lines page, which lists the unposted Rental Invoice lines related to the current Rental Contract line. | |
| Posted Invoice Lines | Opens the Posted Sales Invoice Lines page, which lists the Posted Rental Invoice lines related to the current Rental Contract line. | |
| Line Texts | If you are using the integration with COSMO Text Module, opens the text relating to the Rental Contract line. In the Edit Text page, existing text can be viewed or edited, or new text can be added. For more information, see COSMO Text Module. | |
| Precondition Log | Opens the Item Shipment Precondition Log page, which lists preconditions that have been met prior to to shipment. For more information, see Item Shipment Preconditions. |
Rental FastTab
As with other information entered at the header level, the information entered in the fields on the Rental FastTab will default to the lines, making data entry simpler when entering multiple rental lines.
The fields on this FastTab have no effect on sales positions.
Fixed Rate FastTab
The fields on the Fixed Rate FastTab are used for allocating the rate/price changes to all lines. For more information, see Fixed Rate Invoicing.
Home Menu
The actions on the Home menu are described in the following table.
| Action | Description |
|---|---|
| Post | Opens the posting dialog box, which has different options based on the Transfer Posting selection in Rental Setup: - If set to Transfer Orders, then the dialog box has the Create Invoice option which will create the invoice for the shipped/returned rental item(s). - If set to Item Journal, then the dialog box has the Post Shipment, Create Invoice, and Post Return options, which creates the shipment, invoice, and return for the rental item(s). For more information, see the Item Journal related topics in Posting. |
| Post > Post and Send | Opens the standard request page for posting and sending a document. After accepting how to send the document, the posting dialog box opens. After posting, the document is sent as specified. This action is only available if the Transfer Posting = Item Journal. |
| Release | Releases the Rental Contract for posting processes, which may be necessary if reopened. For more information, see Posting. NOTE: Rental Contracts are automatically released when transfer orders are created or shipments/invoices are posted. |
| Reopen | Reopens the Rental Contract to allow edits after release. |
| Create Shipment Transfer Orders | Creates a Shipment Transfer Order when Transfer Posting = Transfer Orders in Rental Setup, which is used for processing the shipment of the rental item/machine to the customer. Creating the transfer order automatically releases the Rental Contract.For more information, see Posting Shipment by Transfer Order. |
| Create Return Transfer Orders | Creates a Return Transfer Order when Transfer Posting = Transfer Orders in Rental Setup, which is used for processing the return of the rental item/machine from the customer. For more information, see Posting Return by Transfer Order. |
| Transfer Orders | Opens the created shipment and return transfer orders when Transfer Posting = Transfer Orders in Rental Setup. For more information, see Posting Shipment by Transfer Order and Posting Return by Transfer Order. |
Prepare Menu
The action on the Prepare menu is described in the following table.
| Action | Description |
|---|---|
| Copy Document | Copies lines and header information from another rental document to this Rental Contract. |
Print/Send Menu
The actions on the Print/Send menu are described in the following table.
| Action | Description |
|---|---|
| Send by Email | Prepares the Rental Contract for emailing if documents are set up for sending through email in standard Microsoft Dynamics 365 Business Central. |
| Generates a Rental Contract document. |
Actions Menu
The actions on the Actions menu that have not been described already and are specific to COSMO Rental are described in the following table.
| Menu | Action | Description |
|---|---|---|
| Functions | Loss Worksheet | Opens the Rental Loss Worksheet page – filtered on all Rental Status Lines for all Rental Contract lines – where you enter the loss information. For more information, see Losses. |
| Deposit Worksheet | Opens the Rental Deposit Worksheet page in which deposit information is managed for the Rental Contract (see Rental Deposit Worksheet). | |
| Create Follow-Up Invoice | Creates a follow-up invoice after a rental credit memo was posted (see Follow-Up Invoices). | |
| Create Credit Memo for Overpaid Returns | Creates a Credit Memo for an overpaid return if the Create Cr. Memo for Overpayment field is set to Never in the Rental Setup page or if a credit memo for overpayment was created and deleted. For more information, see Credit early return. | |
| Create Sales Quote | Creates a Sales Quote from the Rental Contract when the rented item is to be sold to the customer. For more information, see Sales Calculation. | |
| Create Sales Order | Creates a Sales Order from the Rental Contract when the rented item is to be sold to the customer. For more information, see Sales Calculation. | |
| Archive Document | Archives the Rental Contract (see Archive Rental Documents). | |
| Transport | Create Transport Order | Creates a transport order for a 3rd party transport company to ship/return a rental item/machine for your company. For more information, see 3rd Party Transport. |
| Create Transport Quote | Creates a transport quote for a 3rd party transport company to ship/return a rental item/machine for your company. For more information, see 3rd Party Transport. | |
| Posted Transport Orders | Opens the Rental Purchase Invoices page, which lists posted transport orders. For more information, see 3rd Party Transport. | |
| Transport Quotes | Opens the Purchase Quotes page, which lists transport quotes created from the Create Transport Quote function. For more information, see 3rd Party Transport. | |
| Transport Orders | Opens the Rental Purchase Orders page, which lists transport orders created from the Create Transport Order function. For more information, see 3rd Party Transport. | |
| Posting | Test Report | Simulates the results of posting (ship/receive and/or invoice) the Rental Contract. For more information, see Test Report. |
| n/a | Rental Disposition | Opens the Graphical Rental Disposition page, which allows you to perform rental planning processes using a visualized planning tool. For more information, see Graphical Planning Board. |
Related Menu
The actions on the Related menu that have not been described already and are specific to COSMO Rental are described in the following table.
| Menu | Action | Description |
|---|---|---|
| Order | Posted Losses | Opens the Posted Rental Losses page, which lists the rental losses that have been posted for the Rental Contract. For more information, see Losses. |
| Posted Deposits | Opens the Posted Rental Deposits page, which lists all deposits for all Rental Contract lines. | |
| Header Texts / Footer Texts | If you are using the integration with COSMO Text Module, opens the header or footer text relating to the Rental Contract. In the Edit Text page, existing text can be viewed or edited, or new text can be added. For more information, see COSMO Text Module. | |
| Documents | Shipments | Opens the Posted Rental Shipments page, which lists all shipments posted for the Rental Contract when Transfer Posting = Item Journal in Rental Setup. For more information, see Rental Shipments. |
| Invoices | Opens the Rental Invoices page, which lists all unposted invoices created from the Rental Contract as long as combined invoices were not activated for all or select customers. For more information, see Rental Invoices and Follow-up Invoices. |
|
| Invoice Lines | Opens the Rental Lines page, which lists all unposted invoice lines for the Rental Contract. | |
| Returns | Opens the Posted Rental Returns page, which lists all returns posted for the Rental Contract when Transfer Posting = Item Journal in Rental Setup. For more information, see Rental Returns. | |
| Credit Memos | Opens the Rental Credit Memos page, which lists all unposted Rental Credit Memos. For more information, see Rental Credit Memos. | |
| Rental Purchase Orders | Opens the Rental Purchase Order page, which lists all purchase orders created for 3rd party rentals. If only one purchase order exists, the Rental Purchase Order page opens. For more information about 3rd party rentals, see 3rd Party Rental. |
|
| Posted Invoices | Opens the Posted Rental Invoices page, which lists all invoices posted for the Rental Contract as long as combined invoices were not activated for all or select customers. | |
| Posted Invoice Lines | Opens the Posted Sales Invoice Lines page, which lists all invoice lines posted for the Rental Contract. | |
| Posted Credit Memos | Opens the Posted Rental Credit Memos page, which lists all credit memos posted for the Rental Contract. For more information, see Rental Credit Memos and Rental Returns. | |
| Posted Transfer Shipments | Opens the Posted Transfer Shipments page, which lists all shipments posted for the Rental Contract when Transfer Posting = Transfer Order in Rental Setup. For more information, see Rental Shipments. | |
| Posted Transfer Returns | Opens the Posted Transfer Receipts page, which lists all returns posted for the Rental Contract when Transfer Posting = Transfer Orders in Rental Setup. For more information, see Rental Returns. | |
| Deposit | Opens a menu for accessing Deposit Invoices, Deposit Credit Memos, Posted Deposit Invoices, and Posted Deposit Credit Memos for the Rental Contract. For more information, see Deposits. | |
| Sales Quotes | Opens the Sales Quotes page, which lists the sales quotes created for the customer to purchase a rental item. For more information, see Sales Calculation. | |
| Sales Orders | Opens the Sales Orders page, which lists the sales orders created for the customer to purchase a rental item. For more information, see Sales Calculation. | |
| Precondition Log | Opens the Item Shipment Precondition Log page, which lists all preconditions that have been processed for item shipments with the Rental Contract. For more information, see Item Shipment Preconditions. |
Rental Contract Positions/Processing
In the Rental Contract, you can enter positions to be rented (items/machines) and also positions to be sold (items, resources, and G/L accounts) along with the rental. Only rental items/machines can be rented; items without this attribute can be sold only.
Sales positions are entered the same as a regular sales line while the rental positions have more requirements.
To record a sales position on a Rental Contract
- Choose the icon, enter Rental Contracts, and then choose the related link.
- Choose the New action.
- In the Customer Name field, enter the customer name or number.
- On the Lines FastTab, choose the Sales option in the Rental Position field.
- In the Type field, enter Item, Resource, or G/L Account.
- In the No. field, enter the relevant sales item, resource, or G/L account.
- In the Location Code field, enter a location if the inventory is posted using locations.
- In the Quantity field, enter the number of units to be sold.
- Fill in other standard Microsoft Dynamics 365 Business Central fields as needed.
Notă
Sales items can only be added to a Rental Contract if the following conditions apply:
- Rental Setup, Posting Type = Transfer Order
- Rental Setup, Ignore Sales Positions in Transfer Order = on
- Warehouse Location requires Warehouse Shipments, others are optional
For more information, see Rental with Warehouse Management.
To record a rental position on a Rental Contract
- Choose the icon, enter Rental Contract, and then choose the related link.
- Choose the New action.
- In the Customer Name field, enter the customer name or number.
- In the Rental Billing Unit field, enter the code for the rental period.
- In the Rental Start Date field, enter the date the rental will begin.
- In the Rental End Date field, enter the date the rental will end. If this date affects the period entered in the Min. Rental Period field, you will need to adjust either field.
- In the Invoice Period field, enter how the periods on the invoice are created. The options are Day, Week, Month, Two Months, Quarter, Half Year, Year, and Fixed Rate.
For more information, see Invoicing Parameters. - In the Lines FastTab, select Item in the Type field.
- In the No. field, enter the rental item/machine, and then press Enter. Notice the following:
- The designated Rental location defaults to the Location Code field (if assigned to the customer).
- The customer location defaults to the Customer Location Code field.
- The Rental Billing Unit, Invoice Period, and Prepaid fields are updated from the General FastTab.
- The Min. Rental Period has the value from the item/machine or the same value as in the Rental FastTab if no value was assigned to the item/machine.
- The Rate Unit Price field has the value from the price list if no minimum quantity was defined.
- The Total No. of Rate Units is updated if a starting and ending rental period was entered.
- Related rent rate components are added below the item/machine line, if the Insert Rate Components field is set to Always in Rental Setup.
- In the Quantity field, type the number of items to rent.
- In the Rental FastTab, the Min. Rental Period field is updated with the default value from the Min. Rental Period in the Rental Setup page.
Changing this value will open a message asking if you want to update the Min. Rental Period in the lines.
Serialized Rental Items
For rental items with serial numbers, the tracking information is assigned differently depending on the Transfer Posting setting in Rental Setup:
- If Transfer Order, then enter the serial number(s) in the Shipment Transfer Order by choosing Line > Item Tracking Lines > Shipment on the Lines FastTab.
- If Item Journal, then enter the serial number(s) on the Rental Contract line by choosing Line > Related Information > Item Tracking Lines on the Lines FastTab prior to posting the shipment.
Rental Status
The Rental Status field in the General and Lines FastTab (as well as in the Rental Contracts page) provides a color-coded visualization of the current processing status of the overall Rental Contract and the individual lines. The options are Open (bold green), Rented (bold black), Returned (yellow), and Finished (bold blue).
Notă
The Rental Status is for informational purposes only and has no influence on the processing of the Rental Contract.
Overall Status of Rental Contract
The status of the lines determines what is shown in Rental Status field in the General FastTab and on the Rental Contracts page as follows:
- Open – Initial status or when there are only lines with Rental Items that have not been shipped.
- Rented – At least one of the Rental Items has been shipped, but not completely returned and invoiced.
- Returned – All shipped Rental Items have been returned and there are no other lines with unshipped Rental Items.
- Finished – All Rental Items have been returned and:
- the Rental Contract is completely invoiced (no open Rental Ledger Entries).
- there are no Rental Contract lines with Rental Items that have not been shipped.
If a new Rental Item is added to a Finished Rental Contract, the Rental Status is reset to Open. If a Rental Credit Memo is created for the Rental Contract (open Rental Ledger Entries exist), the Rental Status is reset to Returned.
Status of Individual Rental Lines
In each Rental Contract line, the Rental Status field is updated as follows:
- Open – Initial status or no Rental Item has been shipped.
- Rented – Any of the Rental Items on the line have been shipped, but not completely returned and invoiced.
- Returned – All shipped Rental Items have been returned or if a Rental Credit Memo is created for the rental item.
- Finished – All shipped/returned Rental Items have been completely invoiced and no open Rental Ledger Entries exist.
Status of Prepaid Contract
For prepaid Rental Contracts, the Rental Status field in the header and lines is updated as follows:
- Rented - after shipment and invoicing.
- *Finished - immediately after the return is posted.
Test Report
The Test Report can be run to simulate the results of posting (ship/receive and/or invoice) the Rental Contract.
- On the Actions menu, choose Posting > Test Report.
- Turn on the Show Dimensions toggle to include dimension information for the Rental Contract lines.
- Choose the Preview button to view the report on screen or the Print button to generate a printed document.
Delete Rental Contracts
Rental Contracts can be deleted manually or by using the Delete Finished Rental Contracts batch job if there are no ongoing processes (posted shipments that have not been returned) or open Rental Ledger Entries (no missing or unposted invoices and no unposted credit memos).
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