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Equipment rental invoice template for Customer Support

to set that up then we're going to first set up the items for our new rental Revenue Stream So when we set up the items these are going to be the things that we sell when we populate the invoice and the estimate so we're imagining now that if someone comes in and they and they call in for example and they say they want to rent like band equipment for a weekend or something like that we want to make it as easy as possible for anybody that is on the phone to give them an estimate possibly take a deposit at that point in time to do that we want to make up we want to make the items to to populate the estimate as easy as possible so let's go down to where those are located let's go to the sales tab let's go to the products and services product service items and then I'm going to close up the hand Boogie if you're in the uh business view by the way it's under the get paid and pay tab on the left and then we've got the product and service items so I'm gonna put this down so so now you might say well I can just create like a rental item for like every guitar so we've got multiple guitars down here and we might have amplifiers and drum sets and whatnot and we'll create a rental kind of cost for each of those and you can do that in like a piecemeal type of scenario and and let them have a lot more customization over the equipment that they're going to be purchasing but obviously that'll be a lot more difficult in terms of coming up with a someone over the phone trying to come up with like an estimate and collect the deposit it might be easier oftentimes if you're in a situation like this to come up with a package bundle as your Baseline bundle this is the bare minimum you can't pay us less rental than this you can't basically rent out one drumstick or anything like that because it's not worth our time to do that we're going to set up the Baseline rental and then possibly you can add to it or improve on it from there so the idea might be we're going to give you like two guitars a drum set an amplifier as the Baseline bundle with our Baseline uh selection of equipment for that if you want to level up the guitars or get another guitar then we piecemeal possibly up from there in some incremental way so get in your getting your items right whatever you're doing setting up your items right is going to be the key thing you have a similar issue if you were to have a law firm or a bookkeeping firm or something like that and someone wanted a project that was going to be put together how are you going to do that you just can say well how many hours is it going to take whoever's on the phone has no idea we don't really know the client but if we can if we can build it out by how many transactions it's going to take do you have payroll or not and bundle those kind of things together we can get much more close to some kind of estimate and Bill out on something less ambiguous than just say time for example okay so I'm gonna add some items here I'm going to go up to up and say let's say we're going to have a new item and it's going to be we're going to call it a service item because it's going to be rental so we're not actually even though it's dealing with the inventory we're not selling the inventory we're just renting the inventory and I'm just going to call the Baseline rental we'll just call it band I'm going to call it band set number one rental so so we're going to start to say hey we're renting out band set stuff and this is our Baseline set that you can possibly level up from but this is this is the Baseline and so I'm gonna not gonna put it into a category we could make a category for like rental stuff maybe let's do that let's let's actually make a category for for rental stuff and so we'll just practice with the categories we'll put that in the band set and then we'll have the price and then down here I'm gonna let's put a little bit more detail in the description I'm gonna say this includes two guitars like one drum set and [Music] and amplifier like for a weekend or something like that or two days I don't know to how long it would be two days I don't know but if you want to be specific on that well that's what we're gonna put I'm gonna put 2 000 here I have no idea how much that should actually go for uh so so we're just doing it for the practice problem it's going to go into then the account it's currently going to Services which might be good but if you have another kind of source of income and we have multiple types of rental it might justify then another income account for rental income remember that you don't want to have too many income accounts I don't want an income account for every item that I sell but I might want for example to have an income account by the major groups of items inventory or possibly guitars versus drums or rental versus other service items so let's add let's add a new one I'm going to hit the drop down and I'm going to say I want another income account I'll break it out and so we're gonna make an income account as we go hitting the drop down I want it to be an income type of account uh this subcategory other primary income I'll say and then I'm just going to call it equipment equipment rental income let's call it no sub account we'll keep it as is let's save it and close it so there we have it shouldn't be any tax applied to it because it's a service item so uh tax let's see if I can go into the tax edit the tax and say that we want it to be non-tax and then okay and then so that looks good so let's save it and close it now remember if I just go on to the income statement over here that our income accounts What I'm trying to point out is that the income accounts you you don't usually want a whole lot of income statement accounts and you don't usually want to set up an income statement account for every item that you sell or every customer which is a common error that sometimes people make now sometimes you might deviate from that general rule because if you're in like gig work and you're getting paid by multiple platforms like a YouTube or an Uber or multiple platforms like that then and you're just using Bank feeds to record your transactions instead of using the invoices and sales receipts then you might just make an income account called like Google or YouTube or something like that because you're losing some of the added detail that you would have on the sub ledgers to break out your income line items by item and by customer