Odoo Rental Module is a new application introduced by Odoo from Odoo 13 version. Odoo rental management system eases the obtaining of products on rents for certain period of time. Via Odoo rental the businesses can manage their resources and orders efficiently. Under Odoo Rental application it comes separate space for managing rental products, rental orders, and rental contracts. Also the application is efficient in managing the rental product categories, UoM (s), rental agreements.
To start with, firstly install Odoo Rental Module from Odoo Apps.
If we go into the application, you can see from the dashboard, the kanban view of rental orders.
From left side, you can see the rental status and the invoice status. Thus you can easily filter the orders based on the set parameters.
Note: In Rental application, mainly the sales order is used.
Create Products
To start with the rental application firstly we need to create products as we give products on rent.
For that Go to Rental> Products.
We can see the already created products here under Can be Rented category. However, to create a new product, click the CREATE button.
Here, you can add all the basic information relating to the product such as the type, internal reference, barcode and so on. And to give the products on rent, tick the option Can be Rented.
Click SAVE to mark the changes.
Create Orders
After creating products, next is to create orders for that product. For that go to
Rental> Orders
Upon clicking CREATE button, you can create new order.
One can add here, the customer, invoice address, delivery, address, quotation template, expiration date of this order, pricelist if any, also the payment terms.
Under order lines, one can add the products that we are going to give on rent.
Here you can add the date-start date to till date, quantity of the product and their unit price.
Click Add.
You will be navigated back to the order form. You can see the price automatically calculated on the basis of days or duration of rent.
Also you can add the coupons or promotions into the order.
And click SAVE to mark the changes. You can see the sale order created for product on rent.
Now you can go ahead with very same process as like that of the sales order ie SEND VIA MAIL/ CONFIRM.
If everything is OK in the order, you can confirm the sales order.
Now you can see from the menu that the product is reserved for the rent.
Via going back to dashboard, it we click the filter- rental status-reserved, you get to see the very same sales order there.
However, to pick up the products click PICK-UP button on top of the sales order and you can see the status changed to picked up i.e. delivered to the customer.
Via going to Rental> Schedule,
You can once again check quantity delivered and to which customer and on what date.
From schedule one can also make out how many days the product is reserved for a customer. Here, as we have given the duration as 1 day you can see the product is reserved only for a single day ie 28th Nov.
In order to return the product, go back to your sales order and click RETURN button.
Validate the product.
You can see the product as returned.
Rental Pricing
One can set the rental pricing for the product under Product> Rental Tab.
Here one can define the rental pricing say, duration and its unit price. Also one can set reservation prices say charges for extra hour, extra days, and so on. Now based on it, the pricing will be calculated in the sales order.
Reporting
Via going to Rental > Reporting
You get to see the Rental Analysis.
You can easily get the indications such as Quantity delivered, quantity picked and so on.