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Who it's for / Equipment & tool rental
Equipment and tool rental companies price each machine by the day, the week or the four-week month, with delivery and pickup on top, often a damage waiver as a share of the rental, and charges at return for fuel, cleaning or hours run above what the rate includes. Contractors usually rent on account with a purchase order and pay at 30 days, and long rentals are billed every period while the machine is out. Tell Clodou what went out and at what rate: it writes the quote and the invoice, adds the return charges on the draft and keeps track of who still owes.
"Quote Ridge Builders: mini excavator for 1 week at $1,450, delivery and pickup at $250 and the damage waiver, 12% of $1,450, $174" writes three lines, $1,874. Clodou uses your rates; it never picks a rate or a waiver.
Turn the quote into a draft invoice when the machine goes out. At return, add the extra hours, fuel or cleaning to the draft at your prices, and Clodou works out the total again before you send it.
Add each contractor as a client, with their accounts payable contact, and put their purchase order number in the note. Ask "which invoices are overdue?" to see each rental still unpaid, with what is owed.
Most rental companies price each item by the day, the week and the four-week month, with the longer rates cheaper per day. Give Clodou the period and the rate you charge, such as mini excavator, 1 week, $1,450, or 3 days at $395. It writes the line as you give it and never works out the cheapest rate by itself. For a long rental, invoice each four-week period as it ends, or set up a retainer for a fixed monthly price.
Delivery and pickup are billed by distance or as a flat fee, and many companies add a damage waiver as a share of the rental. At return, machines that come back with less fuel, need cleaning or ran more hours than the rate includes are charged extra. Give each its own line with the amount you work out, such as extra hours, 6 at $45, and add them to the draft before you send it. Clodou never adds a charge by itself.
Contractors usually rent on account with a purchase order and pay at 30 days: put the PO number in the note and set the due date to their terms. Walk-in customers often leave a card hold or a security deposit, which is handled by your payment terminal: Clodou does not hold or refund deposits. Whether rentals and waivers are taxed where you work is for you to check with your accountant; Clodou applies the rate you set, per line if needed.
Step 1
Quote Ridge Builders: mini excavator for 1 week from April 7 at $1,450, delivery and pickup at $250 and the damage waiver, 12% of $1,450, $174. PO 5521 in the note.
Finds Ridge Builders and creates quote DEV-0068 with three lines: mini excavator, 1 week from April 7, $1,450.00; delivery and pickup, $250.00; damage waiver, 12% of $1,450, $174.00. No tax is set on this workspace, so the total is $1,874.00, with PO 5521 in the note.
Step 2
We delivered it today. Turn DEV-0068 into an invoice; I'll send it at return.
Creates draft invoice INV-0517 for $1,874.00 with the same lines and note, plus a reference to DEV-0068. It stays a draft until you send it.
Step 3
It came back with 6 hours over the meter allowance and the tank 12 gallons short. Add 6 extra hours at $45 and refueling, 12 gallons at $5.50, to INV-0517.
Adds two lines to draft INV-0517: extra hours, 6 at $45, $270.00; refueling, 12 gallons at $5.50, $66.00. The total is now $2,210.00.
Step 4
I sent INV-0517 to Ridge Builders, due in 30 days.
Sets the due date 30 days from today and marks INV-0517 as sent. $2,210.00 stays on the list of what is owed until you record the payment.
Quote Ridge Builders: mini excavator for 1 week at $1,450, delivery and pickup at $250 and the damage waiver, 12% of $1,450, $174
The excavator came back: add 6 extra hours at $45 and refueling, 12 gallons at $5.50, to the draft
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