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a. From the rental contract, click the 'Schedule' drop-down and select 'Rent Purchase Option'.
b. Next, enter the following information (see below).
- The duration of your rental month in days.
- The price that the machine will be sold for.
- The rate that the customer will pay month to month throughout the duration of the RPO.
- How much of the monthly rate will be applied to the sale of the machine. (Decreases the buyout option at the end of the agreement)
- How much of the monthly payment will be booked as sales revenue and not rental revenue. (Only impacts the gross profit from the sale)
- A monthly surcharge is added to the final buyout of the machine.
- Purchase Estimates: The term at the top is set by the duration of the rental dates. (Changing the rental dates will update the term)
- Sales Estimates: This is the internal finances section. (How much profit your company is making from the agreement)
- Rent Estimates: The rental aspect of the agreement and how much rental revenue is made.
- Click 'Submit'.
c. After clicking 'Submit', you can see the sale price of the machine under the 'Schedule' section of the rental contract.
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