This object is in archive! 

When renting inventory that belongs to someone else

WILSON C. shared this question 8 years ago
Answered

Hi,


I have 1 piece of equipment in my inventory that belongs to someone else. I am going to give him 50% of the income every time it gets rented out. I'm going to keep 50% for delivering.


Is there a way to set this up so that the revenue/income in my stats is reflected accordingly?


Ken

Comments (6)

photo
1

Unfortunately we don't have a way to do this.

photo
1

could you set up a sales person as the other company and then set the commission at 50%?

then do a sales report to pay them?

Doing this would require you to rent that specific item on an individual lead each time it was rented but that would at least give you the option to track and pay.

it wouldnt show up in stats but at least you could do a report for that specific item

photo
1

I don't think this would work. I haven't tested it, but I believe that vendor would then also need to be the sales rep for that lead. Ken's contractor pay method would be better. Again, we don't have a way for this to be reflected in the Income stats, but this would help track the expense.

photo
1

oohh good idea Greg.


This is a good friend of mine but it's essentially like "sub renting" an item from another rental company. the total the customer pays would not be mine. a % would go to the actual owner.

photo
1

Right so you are going to rent to the client and give the owner a %.


so if you set up the owner as a sales person in your company you will be able to get the reports you need to pay them by, but you will have to do a seperate order for those items because if not, it would pay them a % of the full order.

photo
1

I wonder if I set a "contractor pay" on the individual inventory item (picture attached).


Then add the owner of the unit as a worker with the position of contractor...and had him give him a shift on that unit every time it rents out.

photo
1

This would be better than the commission method meantioned.

photo
1

That might work too

Replies have been locked on this page!