Walkthrough: Rental agreement with scheduled invoice

Article • 4/23/2025 • 2 min read

With the Rent Category, you can manage information about objects available for rent to your customers.

For instance, consider a customer 30000, John Haddock Restaurant is renting a beer tap installation for one year at $200 per month, starting on the 14th of January 2022.

To register the Rent Category

  1. Select the Search icon , enter Rent Categories, and then choose the related link. The Rent Categories list page opens.
  2. On the action bar, select New.
  3. In the Code field, enter TAP.
  4. In the Description field, enter Beer Tap Installation.
  5. In the Type field, select Rent.
  6. In the Invoice Period field, select Month.
  7. In the Rent Category Account field, select 4030020.
  8. Close the list page.

Setting up the Rental Agreement

  1. Select the Search icon, enter Rental Agreements, and then choose the related link. The Rental Agreements list page opens.
  2. On the action bar, select New.
  3. On the General FastTab, in the Description field, enter the explanatory text.
  4. In the Starting Date field, select 1/14/2022.
  5. In the Ending Date field, select 1/13/2023.
  6. In the Source Type field, select Customer.
  7. In the Source No. field, select 30000.
  8. On the Rent Lines FastTab, in the Rent Category field, select TAP. The corresponding Description, Invoice Period, Staring Date and Ending Date field values are inherited from the Rent Categories page entered for the selected code, TAP.
  9. In the Quantity field, enter 1.
  10. In the Unit Price field, enter 200.

You can define the dimensions and post groups on the Rental Agreement lines and header for the rent invoice created for a customer. The values assigned for these fields on the Customer card are overruled by the values provided here.

Creating the Rental Invoice

  1. On the Rental Agreement page, on the action bar, select Create Rent Invoices.
  2. In the Invoice to Date and Posting Date fields, select 2/14/2022.
  3. Select OK. The Sales Invoice is created for the customer on the rental with the invoicing period between 2/14/2022 to 3/13/2022 with the Unit Price of 200. The Rental Line Status field on the Rental Agreement lines with Ready to Invoice changes to In Progress after the Create Rent Invoice action is executed.

Posting of the Rental Invoice

  1. On the Sales Invoice page, on the action bar, select Post.
  2. Select Yes to the confirmation message. The Sales Invoice is posted, and the Posted Sales Invoice page is created. On posting the Sales Invoice, the Next Invoice Starting Date is changed to 3/14/2022 and Next Invoice Ending Date is changed to 4/13/2022. The Rental Line Status is changed to Posted.