How can I use Lease/Rental Contracts

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I would like to share an example of how to use the Service Contract. because I have not found many examples about it.

You can create a Lease/Rental contract with the total cost $ 58,080.00

In the cost frame, you can define the length of contract in months, number of payments and scheduler payment period (44 weeks would be approximately 10 months)

In the Contract Lines tab, you can just inform registered items in the Item Master application

In this case you will need to associate the assets to be able to do a manage payment as the Service Contracts

After filling the fields and create contract line, approve the contract and you can manage the payment

In the Scheduler frame I filled the start date with Feb 01 (the line cost, periodic payment will be blank)

In the Scheduler Lines frame, click Select Assets, I choose the asset and, for this example, I filled the Line cost $58080.00. The periodic payment is automatically calculated (Line cost / Lease Rate Factor)

Click in Generate Payments, so you will have 10 invoices $5808.00 but you can change the value as needed