Rental Items

Rental Items typically have a low cost value and are not serial tracked, serviceable, or maintained as fixed assets. Once these items have reached their lifecycle, they are disposed and replaced by new items.

The Rental Item page contains some of the same fields and actions as the Item Card, plus the rental-specific fields. This section describes how to create a rental item.

To create a rental item

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter Rental Items, and then choose the related link.
  2. Choose the New action and then press Enter to automatically create the No. from the number series.
  3. In the Description field, enter a short descriptor of the rental item.
  4. In the Base Unit of Measure field, enter the unit of measure this item is rented.
  5. If a specific billing unit is required for this rental item, choose Show more and then enter the value in the Rental Billing Unit field. This value will be transferred to the rental document line when the rental item is entered.
  6. Fill in the Item Category Code field, as needed.
  7. If a minimum rental period is required for the item, enter the formula in the Min. Rental Period field.
    For more information, see Minimum Rental Periods.
  8. If a deposit is required for the item, fill in the Rental Deposit Unit and Rental Deposit Value fields.
    For more information, see Deposit Setup.
  9. Fill in the Costs & Posting FastTab with costing, posting, and depreciation information for the rental item.
  10. If the rental item is serial tracked, expand the Item Tracking FastTab and enter the proper serial number tracking in the Item Tracking Code field and if a number series should be used to create the serial number, enter it in the Serial Nos. field.
  11. Assign dimensions as needed by choosing the Dimensions action on the Item menu.
  12. Add a picture of the rental item in the Picture FactBox using the standard process for adding pictures.
  13. Assign attributes, such as color or sizing, in the Item Attributes FactBox by choosing the drop-down arrow and then Edit to open the Item Attribute Values page.

Post inventory

After the rental item is created, the inventory is purchased through a rental purchase order or the item journal.

To post inventory with a rental purchase order

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter Rental Purchase Orders, and then choose the related link.
  2. Choose the New action.
  3. In the Vendor Name field, enter the vendor.
  4. In the Vendor Invoice No. field, enter the invoice number from the vendor.
  5. In the Lines FastTab, enter the rental item in the No. field.
  6. In the Location Code field, enter where the rental items are stored.
  7. In the Quantity field, enter the number of rental items to be purchased.
  8. In the Direct Unit Cost field, enter the price of the rental item.
  9. If serial numbers are required:
    1. On the Lines FastTab, choose Line > Item Tracking Lines.
    2. Assign the serial number(s) manually or using the Assign Serial No. or Create Customized SN functions.
    3. Close the Item Tracking Lines page.
  10. On the Home menu, choose the Post action.
  11. In the dialog box, with the Receive and Invoice option selected, choose the OK button.

To post inventory with an item journal

  1. In the Rental Item page, choose the Item Journal action on the Actions menu.
  2. Enter the posting date and choose the Purchase option in the Entry Type field.
  3. In the Item No. field, enter the number of the rental item.
  4. In the Location Code field, enter where the rental items are stored.
  5. In the Quantity field, enter the number of rental items to be purchased.
  6. In the Unit Amount field, enter the price of the rental item.
  7. In the Unit Cost field, enter the cost of the rental item.
  8. If serial numbers are required:
    1. On the Line menu, choose the Item Tracking Lines action to add the serial numbers.
    2. Assign the serial number(s) manually or using the Assign Serial No. or Create Customized SN functions.
    3. Close the Item Tracking Lines page.
  9. On the Home menu, choose the Post action and then choose the Yes button to post the journal lines.
  10. Choose the OK button to close the confirmation message and then close the Item Journals page.

View inventory

Inventory posted through the item journal is visible in the Rental Item page:

  • In the Inventory FastTab, the number of rental items in inventory is visible in the Quantity on Hand field. Choose the value in this field to open the Item Ledger Entries.
  • If the inventory was posted to a location specified as a Use as Rental Location, then the number will be reflected in the Qty. on Rental Locations field.
  • Costs in the Costs & Posting FastTab are updated based on costs entered in the item journal.

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