How do I invoice a customer for the rental of equipment I own?

Thank you for posting, lcarnel. 

You’ll just have to create a fixed asset account from the Chart of Accounts. This will help you track their depreciation as well. 

Here's how:

1. Go to the Lists menu and select Chart of Accounts.
2. Click the Account drop-down menu and select New.
3. Select Fixed Asset and click on Continue. 
4. On the page that appears, provide all the information needed. 
5. Click on Save & Close once you’re done. 

You can also create another subaccount from the Chart of Accounts. One account will track the cost of the asset and the other account will track the accumulated depreciation.

Check this article for more information: Set up Fixed Asset Manager (FAM).

To create an invoice out of this, you'll have to create a fixed asset item:

1. Go back to the Lists menu and choose Fixed Asset Item List.
2. Click the Item drop-down and select New.
3. Provide all the information needed.
4. Click OK once you're done. 

From here, you can now add this item to the invoice that you'll be creating. Here's a detailed guidance on how to create an invoice in QuickBooks Desktop. 

I'm always here if you still have questions in setting up your customers. Take care and have a wonderful day!

Unfortunately, I am not seeing a way to "link" a fixed asset to an item on the item list or make the fixed asset a billable item. Most of our fixed assets are assets purchased to generate revenue. Example: Welding Machines - We assign them to a project with a daily billable amount

We would like to see how much revenue a specific item is able to generate in a year vs maintenance costs.

Thanks for getting back to us, @lcarnel.

You'll want to create a non-inventory item for the fixed asset and link it to an income account. Doing so will help you track the revenue and maintenance cost of the item. Here's how.

In your QuickBooks Desktop (QDBT):

1. Go to the List menu.
2. Select Item List.
3. Click the Item drop-down arrow and select New.
4. Select the Non-inventory Part from the drop-down arrow under the TYPE field.
5. Select an Income account in the Account drop-down field.
6. Fill in the needed details and click OK when done.

Here's an article you can read for more details in creating an item in your QBDT software: Add, edit, and delete items.

I also got you this article that you can use for reference: Use and customize form templates. This link can guide you through the detailed steps on how to personalize your invoice.

Let me know in the comment section if there's anything I can help you with. I'm always here to help you anytime. Have a great day!

I also have Equipment that we lease to a company, however these leases are indefinite Operating Leases.  I have the following questions:

1)  Is the fixed asset the actual equipment being leased or is it the Equipment Lease?  

2)  If the fixed asset is the Equipment Lease (where we are paid monthly), how do you determine the opening balance?  

3)  If the actual equipment is the fixed asset - is the opening balance the value of the equipment purchased?

4)  If the actual equipment is the fixed asset - do we have to open an income account in the Chart of Accounts for the lease?

I'm sorry if these questions seem ignorant, I'm just very new to QuickBooks and Bookkeeping.

I have the same issue, we rent out Card Terminats for a fixed monthly fee, then we charge a small precenage of all tarnsactions on top of this, the monthly fee is a rolling contract with a fixed price, the precentage depends on customer activity, the terminals are meant to be returned after the contract ends

How do i keep track of the inventory of the terminals

How am i billing customers their agreed fixed monthly fee

How am i adding the precentage 

I'm lost

I am using QuickBooks Online

Hello, YumYum. 

Thank you for taking the time to connect with the Community for help. I'm here to assist you in setting up your inventory tracking, monthly service fee, and interest charges. I'm more than happy to help you throughout the entire process.  

You'll need to create a new inventory item for Card Terminals, which will help you to keep track of your sales more efficiently. The other is creating a non-inventory service item to help you manage your monthly service charges and percentage interest. These new items will help you track your sales and expenses more accurately. 

Then, when you create the transaction, use the three items you've created and ensure to zero the amount in the inventory and input the quantity. However, you'll need to set the amounts for the two non-inventory.  

With regards to what account to use for the items. It's best to consult an account so they can provide a convenient way to handle it. If you don't have an accountant, we can help you find one. Feel free to visit this page to find an accountant for your business: Find a QuickBooks ProAdvisor.

If the customer returns inventory items, we will need to record it as a Credit Memo. We'll use the inventory item with zero amount and quantity. This will ensure the return is documented correctly and accounted for in the system. 

If you have any questions about this process, please don't hesitate to let me know. I am here to help in any way that I can. Have a great day!