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Rental invoice template

A rental invoice bills for time with something you still own, so it has to pin down which item went out, when it left and when it came back. This one is set up for equipment hire; the same layout works for monthly rent on a unit or a storage space.

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Rental invoice · example

FromIronwood Equipment Rentals
ToPrairie Edge Excavating LLC
CurrencyUSD
DescriptionQtyPriceAmount
Compact excavator 3.5 t, fleet no. EX-114, out 6 Oct 07:00, back 12 Oct 16:30, weekly rate1$1,450.00$1,450.00
Hydraulic breaker attachment, daily rate, 8 and 9 October2$175.00$350.00
Delivery and pickup, round trip1$250.00$250.00
Damage waiver, 12% of equipment charges1$216.00$216.00
Diesel to refill on return, per gallon9$5.25$47.25
Total$2,313.25

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How to use the rental invoice

  1. Enter your company and the customer, with their account or job number.
  2. Name each item by model and serial or fleet number, with the out and return dates.
  3. Bill at the daily, weekly or 4-week rate, then add delivery, fuel and damage waiver.
  4. Record any deposit in the notes, save, and sign in to issue the invoice.

What a rental invoice should show

  • Rental agreement number, and the customer's job or PO number
  • Each item by description, model and serial or fleet number
  • Date and time out, and date and time returned
  • Hour-meter or odometer readings out and in, for machines billed on use
  • Rate basis for each line: hourly, daily, weekly or 4-week
  • Delivery and pickup, fuel or recharging, cleaning and damage waiver
  • Deposit taken, and any deduction from it with the reason
  • Late-return charges and the terms for loss or damage

Rate periods, worked through

A compact excavator rents at 425 a day, 1,450 a week or 3,900 for four weeks. Out for seven rental days, the weekly rate is far cheaper than seven daily charges (2,975). The customer also takes a hydraulic breaker for two of those days at 175 a day, and pays a damage waiver of 12% on the machine and attachment charges.

LineBasisAmount
Compact excavator, 6 to 12 October1 week1,450.00
Hydraulic breaker2 days at 175.00350.00
Delivery and pickupRound trip250.00
Damage waiver12% of 1,800.00216.00
Diesel to refill on return9 gallons at 5.2547.25
Total before tax2,313.25

Questions

How do daily, weekly and monthly rental rates work?

Most rental companies price a week at three to four daily rates and a 4-week month at two and a half to three weekly rates, then charge whichever combination is cheapest for the time the item was out. State the rate basis on each line so the customer can check it.

Is sales tax charged on equipment rentals?

In most states with a sales tax, renting tangible goods is taxable at the same rate as selling them, and some states and cities add a separate rental tax on top. Delivery and damage waiver can be taxable too. Check your state before you set the rate.

Should the security deposit go on the invoice?

A refundable deposit is not income while you hold it, so record it in the notes rather than as a charge. If you keep part of it for damage or cleaning, bill that amount as its own line with the reason.

Can I use this for property rent?

Yes. Put the unit and the rent period on the line, and add service charges or utilities on their own lines. For a tenant who wants proof of payment, issue a rent receipt once the money arrives.

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