Understanding the Rental Item Details Program (P54R41)

Before you create a rental contract, you must first specify that the item you are renting out is a rental item. You use the Rental Item Details program (P54R41) to specify that the item is for rent. The item must exist with the business unit, location, and serial number combination (for serialized items) in the Item Location table (F41021).

For each item that you specify as a rental item, you must also specify the rental billing unit of measure. The rental billing unit of measure can be monthly, weekly, or daily. The system uses the rental billing unit of measure when you run the periodic billing of the rental contract. The system provides the option to add a single item or multiple items at a time. You cannot delete a rental item for which a rental contract has been created.

The system saves rental item details in the Rental Item table (F54R41T).

Note: For items that will be billed using Billing Method 2 (one-off contract billing) or 3 (one-off sales order billing), you do not need to set them up in the Rental Item Details program (P54R41).