Create rental contracts in no time with our enterprise software solution for equipment rental companies. This is just one small part of the solution that can run your entire rental business.
Welcome to the demonstration video series for Suite Engine RPM – Enterprise Software for Equipment Companies.
In today’s demonstration video, we will discuss how to create rental contracts. I highly recommend you watch the Billing Codes video as well as the Rental Subcategories video prior to watching this video. To create a new rental contract, let’s go to the actions ribbon and select ‘Rental Contract’ under the new documents section. This will create a brand, new rental contract for us.
First, we’re going to go to the general tab and fill out the information here, so first, I need to select the customer. I can either do a lookup by clicking on the drop down list or I can simply start typing the customer’s name and then click into the name field to search for that customer name. Here I’m going to choose Andersen Energy. Anderson Energy defaults on to the order and the first thing you notice is that it comes up with a message telling me that the customer has an overdue balance. With this warning, it allows you to click on the details to see their balance and take any action as necessary before processing the contract.
I’m going to go ahead and close this, let it go through and you’ll notice first that the order date comes in as today’s date, 2-26. What I’m going to do is I’m going to change the billing code on this to be a different billing code. I’m going to bill them monthly, indefinite, in advance. Okay, now we’re going to assume that the start date of this contract is today, 2-26.
They’re going to take possession of the equipment and start renting it from us and because this is an indefinite billing code, we don’t need to define a duration; however, you do have the option of putting in a duration if you wish so. I can estimate that this is going to be a 12-month rental, so it calculates that it’ll end on 2-25 of 2019. Because this is a monthly, indefinite rental, this will continue to bill beyond 2-25 if they don’t stop the rental at that time.
To the right here, we have some additional fields that we can fill in, such as the customer’s purchase order number or external document number, as we call it. You can also fill in ‘order writer,’ ‘ordered by,’ ‘PO date,’ etc. These are fields that are customizable by you to define the type of information you want to capture on the rental contract.
Let’s take a look at the contract contacts tab. Here you’ll notice that I have the ability to choose different contacts. Whether it’s a sell-to, bill-to, ship-to, or any additional contacts that I may want to put on here. For instance, right now, I have the sell-to contact. I can choose this to be Harry Johnson, let’s say, as an example and when I tab off of that field that asked me if I want to change the contact, so I did change that contact. Over to the right, we default all the various different places where this contact’s going to print. I can print on a quote contract, pre-billing, etc.
The second contact here might be a different bill-contact I might want to choose, let’s say, John Stowe as my bill-to contact and then maybe I have, as a ship-to contact, Mary Jones. And then lastly, I could put in any additional contact I want. It doesn’t have to be part of your contact list; you could just manually capture somebody’s name that might be related to this particular contract for whatever reason, so I put in Jeff Smith as a contact, an additional contact.
Let’s move on to the invoice details tab. In this tab, it’ll show us whether the customer’s tax liable or not, their payment terms code, what tax area code they might be part of, and maybe what location you might be processing this transaction out of. On the contract shipping and billing tab, this shows us, or gives us the ability to define where we’re going to be shipping our equipment to. So, by default, it pulls in Anderson Energy’s 18 Cumberland Street address; however, they might have multiple ship-to addresses for Anderson. Here I can see that they have a Deer Park address and if I choose that, that will automatically update my ship-to information to be from that address.
You can choose your ship-to code from the sell-to customer or the bill-to Customer, but you could also choose what we call, a global address. A global address is an address that is allowed to be used by any customer. So for instance, the Bay View Oilfield. I might have multiple customers and I’m shipping equipment to this oil field or it might be a specific job site where I have multiple customers working. You can store an unlimited amount of global addresses. Let’s choose that Bay View as our address that we’re going to use and down at the bottom, you can also select the shipping agent and agent service like UPS or FedEx as to how you’re getting the equipment to them.
Let’s move down to the contract lines to get on the crux of what it is that we’re actually renting to them. Here in the lines, I’m going to choose a subcategory. I do my lookup in my list. I’ll just type in ‘20’ and I’m going to choose my ‘20 kilowatt portable generator.’ You’ll notice, as soon as I populate the contract with that generator, it gives me a window that allows me to select additional, related charges that might go along with this particular rental. For instance, I might want to charge a ‘delivery’ or ‘pickup fee,’ or I might want to charge ‘damage waiver insurance,’ or I might want to offer them the ability to buy additional items like a filter.
In this example, I’m going to go ahead and just put in the delivery pickup fee because you do have the option of picking which ones you want. So I say ‘ok’ to that, and you’ll notice that it does two things; it creates the ‘20 kilowatt portable generator’ line for us where we’re billing them monthly in advance and it creates the delivery pickup line below it. Which is actually, a sale line. Here, if we scroll across to the right you can see that our start date is 2-26, our duration is 12 months, our estimated stop date is to 2-25, and we’ve defaulted in a price of 450 dollars from our rental prices table. For the delivery pickup line, we’re actually charging $50 and this was just a one-time sale item.
Let’s take a look now at what this contract looks like when we print it to give it to the customer. Choose to print the contract and here I have various different options available to me such as printing our company address, our signature line, if you want the customer sign off on it. You can choose to hide the totals if you wish for the for the entire contract; you can also choose to print price periods and unit numbers.
So let’s just go ahead and preview this with the options I have selected and this is what our rental contract looks like. Here you’ve got your company logo and your company name, what the contract number is, up top here, the date, it shows our sell-to, bill-to, and ship-to information, it shows our customer ID, their terms, their customer purchase order information, it shows the sell-to contact, which was Harry Johnson because he’s chosen to print on the contracts.
In the description section now, it also shows us what it is that they’re renting. They’re getting the 20 kilowatt portable generator for that 12-month period for 450 a month calculating out the 50, 400. Now, if you chose that option to hide the total prices, this line wouldn’t be there. Some customers do wish to hide those prices. It also shows our delivery and pickup fee here, for 50 dollars, and then down here, the subtotal sales tax and what the total amount is with our signature line at the bottom.
This concludes the rental contract creation video. Be sure to watch the “Rental Shipping and Receiving” video as well as “Billing Codes Feature” videos so that you can see how to further process your contracts after creation.