Summary of the Rentals Module in VMT Software
The Rentals module in Vertical Marketing Technologies (VMT) Software is fully integrated with the Point of Sale (POS) system. It is designed to efficiently manage recurring rental transactions such as monthly subscriptions, storage rentals, and vehicle or unit rentals.
The module supports both manual and automated payment processing, with flexible options for billing cycles, pro-rating, deposits, and reporting.
Core Concepts and Workflow
Rental Tab & ToDo List
Rentals appear on a dedicated Rental Tab within the POS screen when the Rentals feature is enabled.
A ToDo List can be generated to track rentals pending processing.
This is especially useful for:
Manual payments (checks, cash, stored credit card info)
Reviewing rentals processed automatically through subscriptions (such as PayPal)
Once a rental is processed, it is automatically removed from the ToDo List.
Payment Processing
Supports manual processing by selecting customers from the ToDo List or processing rentals individually.
Supports automated recurring payments through linked external payment systems (for example, PayPal subscriptions).
Each customer record can store an External ID (such as a PayPal email) to simplify payment lookup and selection during processing.
Processing Rentals
The Process action moves rental items onto the sales screen for completion.
Processing alone does not finalize the rental; the transaction must be completed.
After completion:
The Billing Date and Process Date advance to the next cycle.
Pro-rating is marked as completed.
Errors or changes can be corrected by removing items from the sales screen and re-processing.
Adding Rentals
Rentals can be added:
Manually, or
By selecting predefined Rental Packages (templates).
Key data fields include:
Bill Date
Process Date
Rental ID (inventory item)
Deposit
Location
Vehicle Number (optional)
Payment Type
The system supports pro-rating, adjusting charges based on the selected billing day of the month.
Detailed Features
| Feature | Description |
|---|---|
| Pro-Rating | Charges are prorated for partial months using the “Adjust Billing to Day” setting and an “Amount per Day” value. |
| Bill Just Once | One-time charges are automatically removed after processing, ideal for setup fees or deposits. |
| Deposits | Deposits appear as line items, are zeroed out after processing, and remain tracked for refunds or credits. |
| Return Daily Charge | Allows a configurable daily fee for late returns, including an optional grace period. |
| User & Payment Type | Rentals can be assigned to users and filtered by payment method (credit card, check, cash, etc.). |
| Rental Status Tracking | Customizable status dropdown helps track accounts requiring payment follow-up. |
| Notes | Notes entered during processing are saved on invoices but cleared from active rentals for historical clarity. |
Rental Packager (Templates)
The Rental Packager allows you to create reusable templates that add multiple rental items to a customer account at once.
Package fields include:
Package Name
Rental ID
Deposit
Pro-Rate Day
Location
Vehicle Number
Daily Return Amount
Packages streamline repetitive rental setups and can be modified after being added to a customer.
Reporting and Management
The All Rentals Screen provides a complete view of all rentals, both processed and unprocessed.
Filters include:
Billing date ranges
Processing and processed dates
Customer
Vehicle
Payment type
Rental status
A powerful Query function allows detailed, customized reporting.
The Send To button exports filtered results to reports or spreadsheet files.
The screen displays total scheduled rental amounts, assisting with revenue forecasting.
Key Insights
POS Integration – Rentals flow seamlessly through the POS system.
Flexible Payments – Supports both manual entry and automated recurring billing.
Accurate Billing – Pro-rating and billing controls ensure correct charges.
Template-Driven Setup – Rental Packager reduces data entry and errors.
Advanced Reporting – Strong filtering and export options improve oversight.
Status & User Tracking – Custom fields enhance follow-up and accountability.
Terminology
| Term | Definition |
|---|---|
| Rental ID | Inventory item used to associate charges with specific rental products or services. |
| Process Date | Date a rental payment is processed or scheduled for processing. |
| Billing Date | Date the rental charge is billed to the customer. |
| Pro-Rating | Calculating charges based on partial usage within a billing cycle. |
| Deposit | One-time security charge, refundable or applicable to future charges. |
| Rental Package | Template containing multiple rental items for quick setup. |
| External ID | Identifier from an external payment system, such as a PayPal email. |
Rentals / Monthly Storage / Subscriptions are a great way to track your recurring income and keep your billing straight. It’s so good, we use it here at VMT Software for tracking our subscriptions for Digital Wrench!