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.
