Rental Business Manager template enables simple and effective finance management for rental businesses. We have options to enter taxes and discounts. We can track payments made by customers on orders. In addition, we can also record operational business expenses. In this article, we will see these features in more detail.
This article is part of a series of support articles of Rental Business Manager Excel template. For more information on the product, please visit Rental Business Manager Excel template.
Order Related Costs and Discounts
When we enter the order line items in the Order Details sheet, we are entering the rental prices of products. We are also entering any product level discounts.
In addition to this, any order level charges can be entered in the Order Headers sheet. This will be added to the Total Order Amount. Also, any Order Level Discounts can be entered there. This amount will be deducted to calculate the Total Order Amount.
The template will use these to calculate the total order amount and subtotals in the Invoice and Report sheets.
Tracking Payments and Due Amounts
When the customer makes the payment, we enter the paid amount in the Order Headers sheet.
Due Amount will be calculated for each order as (Total Order Amount – Paid Amount).
You can filter on this DUE AMOUNT field to limit the data to only orders which are not fully paid yet (Filter to values other than 0).
Similarly, you can filter on PAYMENT DUE DATE field to see orders which are past due date. First, choose Date Filters —> Before.
Then, Choose Today.
Click OK and now the table will be filtered to orders which are past due dates.
We can see the overall current status of accounts receivable in the Report sheet.
When we choose a specific customer, we can see the financial status along with other metrics.
Tracking Operational Expenses
All the operational expenses can be entered in the Expenses sheet. For example, if you buy any stationery for your business or subscribe to any other business service, you can enter those expenses here.
These expenses will be summarized and reported in the REPORT sheet.
In the next article, we will see in detail the automated 5 page interactive report in Rental Business Manager.