Allowing Stock Item Leases

InventoryGuide > Inventory > Setting Up Your Stock Items > Adding Stock Item Records > Allowing Stock Item Leases

You can set up stock items to be available for lease and for sale. All leased items must be serialized so you can track which items your customers leased.

If you want the option to sell items marked for lease, you must include and allow entry to the For Lease check box in your Sales Entry window. This allows you to uncheck the box for items you want to sell.

To set up stock items for lease:

1 In the IN Stock window, select the For Lease check box. The Serialized check box will be automatically checked and the Term field will appear.

2 Enter the term length for this lease and from the drop-down select if the term is days, months, or years.

The term dates can be changed in the Sales Entry window (if you include the Term Start and Term Expiration fields) or on the Leased Items tab in the AR Customers window.

3 To set a price for a leased item, you must attach a Non-Inventory Code on the Sales Info tab.

If you choose to sell this item, instead of lease, the price will be taken from the Qty/Price Info tab.

4 Enter the rest of the information for this stock item and save.

Because this is a serialized item, you must add quantity in the IN Adjust Stock Quantities window.

Leased items will still appear as On Hand and be included in inventory valuation, but they will appear in the Leased Items count instead of the Available count. After you return a leased item, it will again become available for lease or sale.