Inventory Management Software 2023 for Rental Businesses

Rental Inventory Tracker

If you are a business owner of a rental business where you rent equipment or assets to your customers, you will find this template handy in tracking inventory.

This Excel rental inventory management template can help you know how many items are in stock and how many have been rented out. In addition to knowing the current inventory, you can also determine the expected inventory in future based on future dated rental orders/contracts.

Use this free equipment rental software to get organized and be in control of your rental inventory. You can use this template for any rental business, such as event rental, party rental, equipment rental, furniture rental to parties or events, renting wedding items to weddings, construction equipment rental, audio video equipment rental, bike rental, sports equipment rental or book rental.

This Excel template is designed for Microsoft Excel, but if you are looking for a Google Sheet template, please visit Rental Inventory Tracker in Google Sheets.

Rental Calendar - Available Quantity
Rental Calendar – Available Quantity

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How to track rental inventory in Excel

Overview of Steps

  1. Enter Assets and # of items in Assets sheet
  2. To enter a rental contract order, enter the order details in Orders sheet
  3. Check availability in Orders sheet before committing to the order (max 90 days window)
  4. To see current availability of assets, view Assets sheet
  5. To view at any time availability over a month, use Calendar sheet

Detailed Steps

Enter the list of assets or equipment in the Assets sheet.

Enter Rental Equipment or Rental Assets Items

If you are new to Excel Tables, please read this article first: Introduction to Excel Tables.

Enter Asset Name, Description and # of Items you have of each asset. The last two columns are automatically calculated. When you begin, Rented Out will be 0 and all the items will be In Stock.

Enter Rental orders in Orders sheet

Rental Inventory Tracker – Enter rental orders details

Enter Order Number,  Order Date, Asset being rented and Quantity being rented in this excel equipment rental spreadsheet. Enter Rent Out Date (date when the asset needs to be given to customer) and Return Date (date when asset will be returned by the customer).

Use the Notes column to keep track of any information related to the order. For example, you can enter contact information of the customer.

Check Availability of Rental Asset

At the top of the Orders sheet is a simple availability calculator, which will provide the quantity available to rent for a specific asset given the rent out and return dates.

Check availability of Rental Items

If the available quantity is negative, that indicates that there is not enough inventory.

Check availability of Rental Items – Not enough Inventory

This availability calculator can handle rental windows of up to 90 days long.

Check availability – Rental Assets – Window longer than 90 days

View Availability Calendar

The Calendar sheet provides a flexible and useful calendar that shows the availability of rental assets over 31 days. You can choose any start date for this calendar view. Also, you can choose to see Available Quantity or Rented Quantity. Here is a screenshot of how to track rental inventory with the available quantity selected.

Rental Calendar - Available Quantity
Rental Calendar – Available Quantity

The red colored cells indicate days when assets will not have enough inventory to cover the rental orders. You need to make sure that you re-do the rental order by working with the customer or may have to cancel the order.

Here is a screenshot of Rented Quantity from this equipment rental tracking spreadsheet.

Rental Calendar – Rented Quantity

This will help you to be aware of how many items will be rented out on any specific day.

Additional Functionality

To view one order’s details, use filter on Order Number in Assets table

Filtering by Order Number

To view orders/assets with return date of today, use filter on Return Date in Assets table

Filtering by Rental Due Date

By default, the Calendar sheet shows 25 assets. It’s easy to extend Calendar for more days and more assets. To unprotect Calendar sheet, use password: indzara. (Article on Unprotecting sheets). Then, just expand the table to more rows to include more assets.

If you find the above template useful, please see premium templates that provides accounting, invoicing, and reporting features for rental businesses.

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