I am currently setting up a rental program for my business, that does not use deposits. Instead, I want to charge a customer if they have not returned the item after it has been late 14 days. I currently do not have a PCI complaint option to store my customer's CC info.
What options do I have using Quickbooks POS 12.0, Quickbooks Desktop 2017, or Quickbooks Payments to charge a customer who has not returned a rented item?
I hope your week is going well so far. After researching to see if your unique request would work in one of these products, I've discovered there isn't a way. However, I'll send feedback to our Product Developers so they can consider this on one of the upcoming releases for QuickBooks. They take the time to review every customer's request.
If you have any other questions, feel free to ask. I'm only a post away. Enjoy the rest of your week!
Please go to QuickBooks POS Help on the Top Left and Click on Help Contents.
Search for the word Rental and you will the below instructions.
Use this procedure to record the return of long-term rental equipment.
This example is for piano rentals by the month; adjust for your needs.
To record the return of a rental piano:
Locate and open the sales order created when the rental was made.
Adjust the rental charge item quantity to 0, change the status to Closed, and then select Save.
Select New Return Receipt from the Point of Sale menu.
List the customer on the receipt and add items as follows:
List the "Rental Piano" item with a quantity of one. This returns the rental piano to inventory.
To refund a piano rental deposit, list the "Piano Rental Deposit" item with a quantity of one.
If final rental charges are due, but have already been posted to the customer’s QuickBooks account, do not list the rental charge item on the receipt. You’ll enter the amount due as payment on account in Step 6.
Tip: If you have run a recent financial exchange with QuickBooks, the customer’s current account balance is displayed as you create a sales receipt.
If final rental charges are due, but have not been posted to the customer’s QuickBooks account, enter the rental charge item on the return receipt with the appropriate quantity (number of months due) as a NEGATIVE quantity.
Select Payment (<F12>).
On the payment screen, enter payments/change to the customer as appropriate:
If rental charges are included and have previously been posted to the customer’s QuickBooks account, first enter the rental charge amount being paid as a payment on account.
Take additional payment or give change, as applicable, to the customer by whatever method you choose.
Save and print the receipt.
There are instructions for Short and Long-term Rental. Image is also attached for your reference.