Selling Items with Equipment Rental Software

equipment rental softwareOur equipment rental software can also be used to sell rental asset and asset stock items, in addition to selling inventory. To learn more about the types of items in EZRentOut, go here.

Contents

1) Enable Items to be Sold
2) Only allow Selected Items to be Sold
3) Create a Sales Order
4) Run Reports on Sold Items

Enable Items to be Sold

To use the sell items capability, go to Settings Company Settings Sell Assets and Asset Stock Enable. Once you have enabled this setting, you can choose to either:

  1. Allow all assets and asset stock to be sold.
  2. Only allow selected assets and asset stock to be sold.

Only allow Selected Items to be Sold

If this option is selected, you will need to define which assets/asset stock can be sold. For this, go to Items → Assets/Asset Stock → Select an item → Edit → Extended Information → Check the Option ‘Available for Sale’.

You can also mass update this field for items, by going to Items → Assets/Asset Stock → Select Multiple Items →Actions → Edit → Select Field ‘Available for Sale’.

When making an item saleable, you should define the ‘Price for Sale’ of an item on the item detail page. This is the price that will be automatically populated on your orders when you are selling the items.

Create a Sales Order

EZRentOut always sells inventory items, however, assets and asset stock are normally rented out. To learn more about orders in our equipment rental software, go here. If an order contains only inventory items, it is a sales order and is marked as completed after it is rented out.

To sell asset and asset stock items you must first add them to an order. An order may contain both saleable and non-saleable items. To sell items in an order click on the ‘Sell Items’ option on the right side of the order detail page:

This will open up an overlay containing all the items that are saleable in your order. You can then select the items you want to sell and edit their per unit sale price.

Note: The quantity field is for asset stock items. This value is populated according to the quantity of asset stock that is defined in the original order.

Once you have selected your items, click ‘Sell Items.’ This will create a separate sales order, in the payment pending state, containing the details of the sales transaction. You will receive a notification of the successful creation of this order at the top of the order detail page of your current order. This new sales order will also be listed as a ‘Related order’ on the order detail page of your current order.

Note: Items that were saleable but were not chosen for sale will stay in the original order and can be rented out, reserved and returned as normal.

You can go to the new sales order to collect and record payment for the items sold. You can also choose to apply taxes to this order as per your requirements, using the ‘Change Tax Rate’ option on the right.

Items that are sold will be crossed out in your current order.

Assets that are sold will be marked as retired, with the reason ‘sold.’ Items that are sold using orders cannot be made active again.

Asset stock quantity that is sold will be marked as retired and the stock quantity decreased by the relevant amount. You can verify this from Items → Asset Stock → Select an Item → Stock History.  

Note: Items added to a bundle cannot be sold. To sell these items you must first remove them from their respective bundles.

Note: The ‘Sell Items’ option is only available for orders that are in the ‘Drafted’ state or are ‘Web Orders’. You cannot sell items through orders that are in ‘Booked,’ ‘Rented Out’, ‘Payment Pending’, ‘Completed’ or any other order state. Additionally, orders booked through the webstore will also not have the ‘Sell Items’ option if you have auto-booking enabled there. To enable/disable auto-booking on the webstore, go to Settings → Store Settings → Order Settings. To learn more about store settings, go here.

Run Reports on Sold Items

To get a holistic picture of items that are sold, you can run the ‘Sold Assets’ report from More → Reports → Sales Reports. To learn more about reports in our equipment rental software, go here.

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EZRentOut is the leading online rental software used by a diverse set of rental businesses worldwide.

For more assistance, drop us an email at support@ezrentout.com

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