Equipment leasing contracts

Equipment Leasing is the contract type for renting out your own equipment. It is the mirror image of a servicing contract: there, the client’s equipment is the subject of the work; here, your equipment is the source of the billing.

For the wider picture, start with how contracts work.

Because the rent is what drives the billing figure, the leasing step comes before billing terms in the wizard — you describe the assets first, and the recurring amount follows from them:

The contract wizard for a leasing contract: Contract Details, Client Details, Equipment Leasing, Billing Terms, Rate Cards, Work Patterns / Jobs

Add Contract wizard, Equipment Leasing type

Choosing how the rent is calculated

The Billing Approach choice: Equipment-based, or Custom amount

Add Contract → Equipment Leasing step

Equipment-based gives every asset its own rate, and the invoice shows the breakup per asset.

The leasing rate table with an equipment name, rate model, and rental per invoice cycle, plus a summary of assets and base rent

Add Contract → Equipment Leasing → Equipment-based

Each row carries a rate model, and this is the part worth getting right — it decides whether an asset is billed by the calendar or by how long it was actually out.

Flat / period is a fixed amount every invoice cycle. If the lease is invoiced monthly, a generator at 1,500 is 1,500 a month — whether it ran every day or sat idle the whole time. Every asset on a flat rate is charged at that same rhythm, and the summary strip keeps a running total of what the base rent per period comes to as you add rows.

Daily and hourly rates are usage-based, and they do not follow the invoice cycle. The charge comes from how long the asset was actually deployed:

Usage charge = (undeploy time − deploy time) × rate

So a machine on a daily rate that goes out on the 3rd and comes back on the 8th is billed for those five days, regardless of whether the lease invoices monthly or quarterly. The deploy and undeploy timestamps are recorded by the fieldworker in the mobile app, which is what makes the calculation possible.

Because of this, a usage-based asset is only finally billed once it comes back. When a worker finishes a job the app asks whether the equipment is staying or returning: leaving it on site keeps it deployed and the meter running, while taking it back undeploys it and closes off that usage period for invoicing.

Custom amount replaces the per-asset rates with a single agreed figure for everything together.

The Custom amount view: one agreed amount per period, with the equipment listed for record only

Add Contract → Equipment Leasing → Custom amount

The equipment list is still kept, but marked record only, no rates — it documents what was handed over, while the invoice simply shows the one agreed amount.

The invoice rhythm

Payment Terms for a lease, with Lease Invoice Frequency and Mode of Payment

Add Contract → Equipment Leasing → Payment Terms

The Lease Invoice Frequency sets how often the rent is billed, and it is the period that flat per-asset rates are quoted against. Usage-based rates ignore it, since their charge comes from the deploy-to-undeploy span instead.

Servicing the assets you lease

Renting an asset out does not mean you stop looking after it. A leasing contract can carry work patterns just like a servicing one — set the pattern up with the service you want performed, and every job it creates will do that work on the leased equipment. You can also raise a one-off job against the contract whenever something needs attention between scheduled visits.

This is how a lease stays maintained: the rent is handled by the leasing terms, while routine servicing runs off the work pattern, on the same contract.

Rate cards continue to price anything else the work consumes — fuel, replacement parts, damage, call-outs.

The assets themselves live in my equipment, and what a deployment does to a unit’s record is covered in equipment on contracts.