web
You’re offline. This is a read only version of the page.
close
Skip to main content
Community site session details

Community site session details

Session Id :
Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / How to handle rental f...
Microsoft Dynamics GP (Archived)

How to handle rental for equipment?

(0) ShareShare
ReportReport
Posted on by MCARTER 1,445

We have been using GP for a few years now and love how it processes sales.  The problem we are currently having is how to deal with rentals.  We are a construction distributor that sales and rents equipment and materials.  It works perfectly for the sale of items but nothing available for rental.  Currently, just to keep up with what is being rented and the amount, we use a misc code of RENTAL and have to run a Crystal report to pull information.  This does not allow us to see quickly who it was last on rent to.  We are in the process of looking at add on's to handle rental.  Does anyone have a workaround solution in the meantime?

 

*This post is locked for comments

I have the same question (0)
  • Suggested answer
    Community Member Profile Picture
    Community Member on at
    Re: How to handle rental for equipment?

    Hi, you could look at the Field Service module in GP - whereby you can issue pieces of equipment to a customer. Not sure how it would handle the rental fee aspct - but worth investigating with your partner.

    Or...just thinking outside the box here!! - you could do the following:

    To record the initial rental placement:

    • Post a SOP Invoice with two line items on it.
    • First line item is for an Inventoried Item (maybe serially tracked?) - sold at Zero unit price. (This is the actual hired piece of equipment being transferred to the customer).
    • Second line is for the rental amount - Service type inventory item - sold at an hourly / daily unit price etc.

    This records the transfer of the item to the customer, and the charge of the rental.

    When the item comes back off hire:

    • Post a SOP Return with one line item - for the piece of inventoried equipment. Received back into stock at the same COGS value you sent it out at. This records the equipment coming back from the customer.

    The net effect is you are left with a net sale for the rental amount.

    You would need to look at the GL postings closely - for example the Equipment Item will be sold out at a COGS value - until the SOP Return is posted - this COGS value will need to sit somewhere in your GP - So, set the default GL posting account for COGS for this item to beinthe Balance Sheet. Or to get over all of this, you could receive it into stock day 1 at zero cost. (and process the purchase seperately - as a fixed asset, or however you choose to manage equipment for rental). But whatever way you manage this, you should be able to automate it.

    And you should be able to track who the piece of equipment was last sold to, for how long etc. You could also record the 'due back off rental' date on the SOP Invoice line - so a smartlist could be used to display this data so that sales peole will be able to tell new renters when it will be available. Also, you can look at managing late returns (where an extra rental fee is chargeable) by comparing expected return dates with actual SOP Return document date.

    Just a though to get you over the hump whle you wait on a better solution.

    Best regards,

    Ian.

  • Ritesh Maharaj Profile Picture
    Ritesh Maharaj 945 on at
    Re: How to handle rental for equipment?

    I believe Wennsoft has a decent equipment rental module for GP (Equipment, Fleet & Asset Management). Where are you located it's not available in all countries?

Under review

Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.

Helpful resources

News and Announcements

Join experts in person to explore low code and AI agents at the Power Platform Community Conference sponsored by Microsoft

Quick Links

Responsible AI policies

As AI tools become more common, we’re introducing a Responsible AI Use…

Abhilash Warrier – Community Spotlight

We are honored to recognize Abhilash Warrier as our Community Spotlight honoree for…

Congratulations to the September Top 10 Community Leaders!

These are the community rock stars!

Leaderboard > 🔒一 Microsoft Dynamics GP (Archived)

Last 30 days Overall leaderboard

Featured topics

Product updates

Dynamics 365 release plans