Rentals are used to record transactions that include Rental items currently being rented (checked out) by Customers. The Rental flag on the Inventory Database record needs to be enabled for every Rental Inventory item in order for the Rental Transaction Type to properly handle quantity adjustments. The Rental Transaction Type is simply used to categorize and track active rentals (much like a paper filing system might be used to store a Customer's driver's license or ID while the Rental items are out). When Rental items are returned, Rental transactions are converted to Sales Invoices which become the permanent record of the Rental as a sale.
Inventory database records are defined as Rental items by enabling the Rental flag. The Rental flag affects how the QOH (Quantity On Hand) is adjusted when a Rental item is included on a sales transaction. Specifically, adding a Rental item to a sales transaction reduces the QOH of the item by one and increases the Allocated Quantity by one regardless of the quantity entered in the Days column. A quantity entered in the Actual column results in exactly the opposite (i.e., any Actual quantity causes the QOH to be increased by one and the Allocated Quantity to be decreased by one regardless of the actual quantity entered). In other words, the net effect to the QOH when Rental items are entered on sales transactions is zero. When an item is rented, the QOH is reduced by one; when the item is returned, the QOH is increased by one to reflect that the item is again available to be rented.
When Rental items are entered on sales transactions, the line item quantity represents the duration of the rental, as opposed to typical inventory where the quantity represents the number of items being sold. In other words, for a Rental item the sale quantity does not represent the number of items being rented but rather the time period of the rental. The price of a Rental item represents the rental fee per unit of time (Days by default). For example, if a bicycle is rented by the hour and a customer rents it for three hours, you would enter a quantity of three on the sales transaction and the total rental fee would equal three times the hourly fee (which is stored in the item's Base Price field).
Although not required, it is strongly recommended to identify each Rental item with a separate Inventory Database record. This allows the QOH to function as an indicator for whether the item is available or is currently being rented (i.e., 1 = available to rent and 0 = currently being rented). To rent out more than one unit of an item on the same transaction, enter each unit as a separate line item. For example, if three identical bicycles are available for rent, use three different Inventory Stock Numbers each with Quantity On Hand = 1 and the Rental flag enabled.
The Rental Transaction Type is not enabled by default. The default settings on the Rental Transaction Type do not allow in-store credit (On Account) payments, and no minimum payment or deposit is required. The two quantity columns are labeled Days and Actual. The column label names may be changed in the Entry Parameters (as well as on printed Forms) to reflect the unit of time by which items are rented (e.g., Hours, Days, etc.). The term Actual is used instead of Shipped since the field represents the actual duration of a rental and is typically completed when a Rental item is returned as opposed to when normal items are sold/shipped.
Serial Numbers on Rental Transactions: When a rental item that uses Serial Numbers is entered a transaction a Serial Number must be selected and is then removed from the item's Serial Number list. Any quantity entered for the rental item (other than 0) prompts for 1 serial number to be selected (even negative quantities). When the rental item is returned and the Rental Transaction is converted to a Sales Invoice, the Serial Number is added back to the item's Serial Number list to indicate it is available to be rented.
Setup Screen Default Settings - Setting / Default / Status:
Enabled / OFF / May be changed
Name / Rental / May be changed
Menu Name / &Rental / May be changed
Short Name / Rental / May be changed
Abbreviation / RENT / May be changed
Description /For items currently out on Rental basis / May be changed
Next Number From / Rental / May be changed
Data File / KSTRRENT.DAT / May be changed
Save Payments To This File / OFF / May be changed
Directory / NULL / May be changed
GL Payment Posting / Order Deposits / May be changed
Hot Key / [Ctrl]+[R] / May be changed
Security Levels /see Default Sales Transactions Security Levels
Entry Parameter Default Settings - Setting / Default / Status:
Qty Only / ON - Days / May be changed
OnOrd/Ship / OFF - Days Actual / May be changed
TotQ/TShip / ON - Days Actual / May be changed
List/MrkDn / OFF - Mark-Down / May be changed
Cost Profit / OFF - Profit / May be changed
Default Mode / TotQty/TotShipped / May be changed
OnOrd To Shipped / Always / May be changed
OnOrd/Ship - Display Ship Totals / Not Avaialble / N/A
Auto-Fill Shipped Qty On New Lines / OFF / May be changed
Auto-Fill Shipped Qty On New Edit / OFF / May be changed
Detail Box / Line Item Comment / May be changed
Disable Customer Display / OFF / May be changed
Customer History - Start Date /
Blank / May be changed
Customer History - Show on Customer History Screen / OFF / May be changed
Customer History - Warn if Existing Transaction / OFF / May be changed
Customer History - Load Customer Line Item History / OFF / May be changed
Customer History - Warn if Item on Existing Transaction / Not Available / N/A
Complete Sale Parameter Default Settings - Setting / Default / Status:
Fields to be displayed:
Order Number / ON / May be changed
Salesperson / ON / May be changed
Discount / ON / May be changed
Shipping / OFF / May be changed
Editable Tax / OFF / May be changed
On Account / ON / May be changed
Payments / ON / May be changed
Orig Order Date / OFF / May be changed
Ship Date / OFF / May be changed
Not Before Date / OFF / May be changed
Not After Date / OFF / May be changed
Default Entry Fields (to which the cursor automatically navigates):
Orig Order Date / OFF / May be changed
Ship Date / OFF / May be changed
Not Before Date / OFF / May be changed
Not After Date / OFF / May be changed
Order Number / OFF / May be changed
Salesperson / OFF / May be changed
Discount / OFF / May be changed
Shipping / OFF / May be changed
Prompt for Payment / ON / May be changed
Select Payment / OFF / May be changed
Edit Pay Date / OFF / May be changed
Confirm Totals / OFF / May be changed
Support Print Immediately / OFF / May be changed
Other Complete Sale Parameters:
Allow Credit Payments / OFF / May be changed
Min Payment / 0% / May be changed
Don't Give Back Change / OFF / May be changed
Give Change On Partial Shipment / OFF / May be changed
Update Parameter Default Settings - Setting / Default / Status:
QOH / ON / May be changed
Qty Allocated / ON / May be changed
Qty On Layaway / OFF / May be changed
Total Sold / OFF / May be changed
Last Sold / ON / May be changed
Last Shipped / OFF / May be changed
Amount Due / OFF / May be changed
Total Purchased / OFF / May be changed
Last Purchase Date / ON / May be changed
Back Order List / ON / May be changed
Save Parameter Default Settings - Setting / Default / Status:
Convert When / Items Shipped / May be changed
Convert To / Sales Invoice / May be changed
Prompt Before Converting / Not Available / N/A
Keep Number When Converted / OFF / May be changed
Don't Save Shipped Qty / OFF / May be changed
Copy Shipped Items to New Sale / OFF / May be changed
Print New Invoice / OFF / May be changed
Delete Filled Line Items / OFF / May be changed
Delete Completed Transaction / ON / May be changed
Archive To / Archives / May be changed
Reload Prices When Editing OFF / May be changed
Reload Avg Cost When Editing / ON / May be changed
Use Current Date For Sales Tax / OFF / May be changed
Rev Trans - Tax On Orig Date / OFF / May be changed
Recalc Shipping When Editing / OFF / May be changed
Ignore Purge Immediately / OFF / May be changed
Manual Conversion To: (based on Transaction Type that have been Enabled)
Sales Invoice / ON / May be changed
Layaway / OFF / May be changed
Sales Order / OFF / N/A
Quote / OFF / May be changed
On Hold / OFF / May be changed
Rental / Not Available / N/A
Gift Registry / OFF / May be changed
Special Order / OFF / May be changed
Service Order / OFF / May be changed
Recurring Charges / OFF / May be changed
Not Used / OFF / May be changed
Archives / OFF / May be changed
See:
Sales Transaction Types - Setup Screen
Configuration Manager Contents