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How to rent or lease items to your customers in QuickBooks

If your business involves renting or leasing items to your customers, you will need to know how to set up your items and how to invoice for the rent / lease payments. This KB shows you one way to do that.

In this article, we will use the terms "rent" and "lease" interchangeably.

Please set up your rental items as fixed asset items. However, if you are using Intuit's Point of Sale, you should set them up as inventory items.

You may or may not want to track your fixed asset items in the QuickBooks Fixed Asset Manager (FAM).

Detailed instructions

 

 

 

 

 

 

Note: If the rental is for a fixed number of months, be sure to memorize the invoice with the appropriate data on the "Schedule Memorized Transaction" window.

Note: You will record the costs matched to the rental income as Depreciation Expense, either manually or by the QuickBooks Fixed Asset Manager.

If these steps do not resolve the issue, you can read discussions and post messages and questions relating to your issue on the Intuit QuickBooks Community site for free or you can contact a technical support agent for additional guidance. Fees may apply.

KB ID# HOW18700
7/24/2014 3:39:13 AM
PPRDQSSWS407 9102 Pro 2013 abbd50