1. Equipment Rental
  2. Rental Management
  3. Rental processes
  4. Rental and sales
  5. Rental agreements and pricing

Create rental agreements

This flow explains how to create a rental agreement of the type 'prospect'. Prospects are customers or vendors who do not have existing accounts.

You can link a prospect account to a customer or vendor account or name. You can also define rental agreements at the header and line level of rental or sub rental orders.

To create a line-level agreement, change the insurance value in the rental line editor of a rental order line.

You can activate several default rental agreements at the same time by using different currencies or rental categories for the selected relation account. A relation account links directly to the agreement and can be a vendor, customer, or project.

Set the expiration date on the rental agreement header. Duplicate an agreement if needed. Use the agreement dates to prevent overlap.


Rental clerk Rental clerk Start Start Create rental agreement Create rental agreement You can create a rental agreement using one of the following types: TypeDescription DefaultUsed when no other rental agreement is applicable. Required to ensure pricing is populated and prevent pricing errors. Prospect groupDefined for a customer group. ProspectDefined for a specific customer. Work location groupDefined for a group of work locations with shared pricing. Work locationDefined for a specific work location. Project groupDefined for a project group to standardize pricing across related projects. ProjectDefined for a specific project. Allows project-specific pricing based on region, customer, timing, or relevance. Rental orderDefined per rental order with pricing valid only for that order. Rental order lineDefined per rental order line. Prices set on the line are applied to the rental agreement. Warehouse groupDefined for a group of warehouses, allowing pricing differentiation across regions. WarehouseDefined for a specific warehouse. Pricing applies based on the warehouse used in the order. The rental agreement hierarchy is configured in the rental parameters. You can view the related rental agreement from the rental or sub rental order via the action pane. Procedure 1. Go to Rental order management > Rental agreements > All rental agreements. 2. Click New. 3. In the Description field, type a value. 4. In the Rental agreement type field, select an option. 5. In the Relation account field, enter or select a value. 6. In the Currency field, enter or select a value. 7. In the Rental/sub rental field, select an option. 8. In the From date field, enter a date. 9. In the To date field, enter a date. 10. Click Save. Determine rental or sub rental agreement Determine rental or sub rental agreement Select the rental category on the rental agreement header to define whether it is for rental or subrental processes. Use the relation account on the header to distinguish the agreement based on type. For example: Rental agreements use a customer as the relation account. Subrental agreements use a vendor as the relation account. The relation account varies by agreement type. For example: Project agreements can have both rental and subrental orders per project. Work location agreements can apply to both rental and subrental orders. The relation account is disabled for default agreements, as these are not linked to specific customers, projects, or locations. You can create agreements for the following categories: Rental: Used for rental orders. Subrental: Used for subrental orders. Rental categories are limited to these two standard processes. Rental agreements cannot be used for sales or purchase orders. Procedure 1. Click New. 2. In the Rental/sub rental field, select an option. 3. In the Rental agreement type field, select an option. 4. In the Relation account field, enter or select a value. 5. In the Currency field, enter or select a value. 6. In the From date field, enter a date. 7. In the To date field, enter a date. 8. Click Save. 9. Click Change status to open the drop dialog. 10. In the New status field, select an option. 11. Click OK. 12. Click Save. 13. Click the form caption. Determined as a sub rental agreement? Determined as a sub rental agreement? Select Vendor Select Vendor Select the vendor account for a subrental agreement. This vendor is linked to the relation account on the agreement header and determines which pricing details apply.You can update the vendor account after confirmation if you have the required security rights.To adjust prices quarterly, duplicate the existing agreement and update the pricing details for the new period.Subrental agreements can have these statuses:Created – Initial status of the agreement.Sent – The agreement has been sent for review.Confirmed – The agreement is valid for use.Canceled – The agreement is invalid and ignored in daily processes.Closed – The agreement is archived and pricing is no longer used.You can add a reason code or note when changing the status. This is optional.Fill in the validity dates to apply pricing only within the specified period.Use the Closed status to archive agreements and support business intelligence reporting. Reason codes are available for further analysis.You can’t delete subrental agreements unless they have the Created status.Find the related agreement on the General tab of the subrental order using the Related information section. Procedure 1. Go to Rental order management > Rental agreements > All rental agreements. 2. Click New. 3. In the Description field, type a value. 4. In the Rental/sub rental field, select an option. Note: Select sub rental 5. In the Currency field, enter or select a value. 6. In the From date field, enter a date. 7. In the To date field, enter a date. 8. In the Rental agreement type field, select an option. Note: Only rental order or rental order line can be selected if the rental agreement has to be associated with a vendor 9. In the Module field, select an option. Note: Select the purchase module to associate it with a vendor account 10. In the Relation account field, enter or select a value. 11. Click Save. 12. On the Action Pane, click Rental agreement. 13. Click Change status to open the drop dialog. 14. In the New status field, select an option. 15. Click OK. 16. Click the form caption. 17. Close the page. Select Customer Select Customer Select the customer account on the rental agreement. The pricing details in the agreement apply only to this account. You can change the customer account after confirmation if you have the necessary security privileges. You can define rental pricing for different time periods, such as by quarter. To update pricing, duplicate the previous agreement and edit the pricing details. A rental agreement can have these statuses: Created: Initial status when the agreement is created. Sent: Sent for review to the customer and rental manager. Confirmed: Ready for use in daily processes. Canceled: Invalid agreement, excluded from daily processes. Closed: Outdated pricing, not used in daily processes. You can optionally add a reason code and note when changing the status. Use the Canceled status to mark agreements with invalid information. Use the Closed status when pricing is outdated but information is still valid. Set validity dates to exclude agreements from rental orders outside the defined period. Use closed agreements for reporting and business intelligence. You cannot delete agreements unless they are in Created status. To find the related agreement, go to the General tab of the rental order and open the Related information section. Procedure 1. Go to Rental order management > Rental agreements > All rental agreements. 2. Click New. 3. In the Description field, type a value. 4. In the Rental/sub rental field, select an option. Note: Select Rental if you want to associate it with a customer account 5. In the Currency field, enter or select a value. 6. In the From date field, enter a date. 7. In the To date field, enter a date. 8. In the Rental agreement type field, select an option. 9. In the Relation account field, enter or select a value. 10. Click Save. 11. Click Change status to open the drop dialog. 12. In the New status field, select an option. 13. Click OK. 14. Click the form caption. Define the rental agreement details Define the rental agreement details Set pricing and agreement details in the rental agreement header. Key fields include: Rental agreement type: Defines pricing logic and usage. Sorting order determines price selection. Rental or subrental category: Choose whether the agreement applies to rental or subrental processes. Currency: Sets the currency for pricing. Valid start and end date: Defines the agreement's active time period. Define pricing on the rental type or rental type group. Pricing includes: Gross price, net price, and discount percentage Insurance percentage Minimum and maximum quantities Warranty price Transport price and return transport price Rigging price Price tier and transport price tier tables Set prices per unit (day, week, hour, or liter), depending on your business needs. Use the default agreement to define and activate price tiers. Procedure 1. Go to Rental order management > Rental agreements > All rental agreements. 2. In the list, find and select the desired record. 3. In the list, click the link in the selected row. 4. Click Details. 5. In the list, find and select the desired record. 6. In the Base price field, enter a number. 7. In the Discount percentage field, enter a number. 8. Click Save. End End Define rental agreement status Define rental agreement status Set the rental agreement status to determine if it is active for use in operational and financial processes. The agreement becomes active when its status is set to "Confirmed". You can link each status to a reason code. Reason codes cannot be assigned to the initial Created status. Five standard statuses are available: Created Sent Confirmed Canceled Closed To define or update reason codes, go to the Reasons page under the Setup tab in the Rental order management module. Procedure 1. Go to Rental order management > Rental agreements > All rental agreements. 2. In the list, find and select the desired record. 3. Click Change status to open the drop dialog. 4. In the New status field, select an option. 5. Click OK. Yes No

Activities

Name Responsible Description

Create rental agreement

Rental clerk

You can create a rental agreement using one of the following types:

TypeDescription
DefaultUsed when no other rental agreement is applicable. Required to ensure pricing is populated and prevent pricing errors.
Prospect groupDefined for a customer group.
ProspectDefined for a specific customer.
Work location groupDefined for a group of work locations with shared pricing.
Work locationDefined for a specific work location.
Project groupDefined for a project group to standardize pricing across related projects.
ProjectDefined for a specific project. Allows project-specific pricing based on region, customer, timing, or relevance.
Rental orderDefined per rental order with pricing valid only for that order.
Rental order lineDefined per rental order line. Prices set on the line are applied to the rental agreement.
Warehouse groupDefined for a group of warehouses, allowing pricing differentiation across regions.
WarehouseDefined for a specific warehouse. Pricing applies based on the warehouse used in the order.

The rental agreement hierarchy is configured in the rental parameters.

You can view the related rental agreement from the rental or sub rental order via the action pane.

Determine rental or sub rental agreement

Rental clerk

Select the rental category on the rental agreement header to define whether it is for rental or subrental processes.

Use the relation account on the header to distinguish the agreement based on type. For example:

  • Rental agreements use a customer as the relation account.
  • Subrental agreements use a vendor as the relation account.

The relation account varies by agreement type. For example:

  • Project agreements can have both rental and subrental orders per project.
  • Work location agreements can apply to both rental and subrental orders.

The relation account is disabled for default agreements, as these are not linked to specific customers, projects, or locations.

You can create agreements for the following categories:

  • Rental: Used for rental orders.
  • Subrental: Used for subrental orders.

Rental categories are limited to these two standard processes. Rental agreements cannot be used for sales or purchase orders.

Select Vendor

Rental clerk

Select the vendor account for a subrental agreement. This vendor is linked to the relation account on the agreement header and determines which pricing details apply.

You can update the vendor account after confirmation if you have the required security rights.

To adjust prices quarterly, duplicate the existing agreement and update the pricing details for the new period.

Subrental agreements can have these statuses:

  • Created – Initial status of the agreement.
  • Sent – The agreement has been sent for review.
  • Confirmed – The agreement is valid for use.
  • Canceled – The agreement is invalid and ignored in daily processes.
  • Closed – The agreement is archived and pricing is no longer used.

You can add a reason code or note when changing the status. This is optional.

Fill in the validity dates to apply pricing only within the specified period.

Use the Closed status to archive agreements and support business intelligence reporting. Reason codes are available for further analysis.

You can’t delete subrental agreements unless they have the Created status.

Find the related agreement on the General tab of the subrental order using the Related information section.

Select Customer

Rental clerk

Select the customer account on the rental agreement. The pricing details in the agreement apply only to this account.

You can change the customer account after confirmation if you have the necessary security privileges.

You can define rental pricing for different time periods, such as by quarter. To update pricing, duplicate the previous agreement and edit the pricing details.

A rental agreement can have these statuses:

  1. Created: Initial status when the agreement is created.
  2. Sent: Sent for review to the customer and rental manager.
  3. Confirmed: Ready for use in daily processes.
  4. Canceled: Invalid agreement, excluded from daily processes.
  5. Closed: Outdated pricing, not used in daily processes.

You can optionally add a reason code and note when changing the status.

Use the Canceled status to mark agreements with invalid information. Use the Closed status when pricing is outdated but information is still valid.

Set validity dates to exclude agreements from rental orders outside the defined period.

Use closed agreements for reporting and business intelligence. You cannot delete agreements unless they are in Created status.

To find the related agreement, go to the General tab of the rental order and open the Related information section.

Define the rental agreement details

Rental clerk

Set pricing and agreement details in the rental agreement header. Key fields include:

  • Rental agreement type: Defines pricing logic and usage. Sorting order determines price selection.
  • Rental or subrental category: Choose whether the agreement applies to rental or subrental processes.
  • Currency: Sets the currency for pricing.
  • Valid start and end date: Defines the agreement's active time period.

Define pricing on the rental type or rental type group. Pricing includes:

  • Gross price, net price, and discount percentage
  • Insurance percentage
  • Minimum and maximum quantities
  • Warranty price
  • Transport price and return transport price
  • Rigging price
  • Price tier and transport price tier tables

Set prices per unit (day, week, hour, or liter), depending on your business needs. Use the default agreement to define and activate price tiers.

Define rental agreement status

Rental clerk

Set the rental agreement status to determine if it is active for use in operational and financial processes. The agreement becomes active when its status is set to "Confirmed".

You can link each status to a reason code. Reason codes cannot be assigned to the initial Created status.

Five standard statuses are available:

  • Created
  • Sent
  • Confirmed
  • Canceled
  • Closed

To define or update reason codes, go to the Reasons page under the Setup tab in the Rental order management module.

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