Adding an Existing Rental Agreement
In this article, we show you how to add an existing rental agreement using the IronUp requests interface.
In this article
- Why Create an Existing Rental?
- Choosing a Supplier
- Adding Request Details
- Selecting Equipment
- Storing Agreement Details
Why Create an Existing Rental?
There are many scenarios in which it will be more effective for you to add rental agreements via the Add Existing workflow rather than the traditional New Request (RFQ) approach, such as:
- You have an unplanned rental agreement and you just need to document it in IronUp, or
- You need to add completed rentals to IronUp to get accurate cost forecasting and analytics, or
- You already have another procurement process and are using IronUp primarily for the rental asset management tools
If you find yourself in any of these scenarios, get started by navigating to the Request screen and clicking on the Create a Request button and selecting "Add Existing" from the dropdown menu. If it's easier, you can also press the large orange "+" button next to Build RFQ.
Choosing a Supplier
The first step in adding an existing rental is to select the Supplier who provided the equipment. The available suppliers are limited by your Saved Suppliers - if you can't find the Supplier or Contact associated with this rental, use the link in the red note or navigate to the Suppliers screen and add the missing Supplier and/or Contact.
At the bottom of the form, there's a checkbox. If you check this box, it will send an official email to the selected contact which informs them that you're adding the agreement to IronUp.
When finished, click "Next: Basic Info" to add Request Details.
Adding Request Details
On this screen, you'll add the basic info associated with this request. Start by specifying a Project; if you can't find your project, or if this is your account's first Request, press Add New to create a Project or contact your account Admin.
Select a Project Location from the list, or add a new one using street address or latitude/longitude coordinates.
Next, select the remaining critical items below:
- Delivery and Call Off Point of Contact: The person in your organization responsible for delivery logistics
- Shifts per Day: Let your supplier know if you're planning on double or triple-shifting their equipment ahead of time
- On-Site Start Date: The day and time you need the equipment on your jobsite
- On-Site End Date: The day and time you expect the equipment won't be needed anymore
Once you've entered all of these details, press "Next: Asset Details" to begin selecting assets for this request.
On the Asset Details screen, you'll add the assets which are part of this request.
To add an asset, click the blue "Add Asset" button in the top left corner.
For each asset class, you'll have the ability to Select by Type (Taxonomy only) or to Select by Model. Once you've selected the appropriate equipment category, select a Quantity. This is the number of these types of equipment which are part of the request.
Next, select the Operational Status of these assets. IronUp selects a default status based on your inputs on the previous screen as well:
- In Use: indicates the assets are fully functional and on an active jobsite. This is the default if your start date is in the past and your end date is in the future.
- Not Delivered: indicates that the assets have not reached your jobsite yet. This is the default if your start date is set for a future time.
- Picked Up / Returned: indicates that the assets are no longer on your jobsite. This is the default if your start date and end date are both in the past.
- Down, Non-PM Work: indicates that the assets are on an active jobsite but are unexpectedly unavailable for work.
- Down, Swapout Requested: indicates that the assets are on an active jobsite but will be swapped out for functioning assets by the supplier.
Note - for more details on how asset status impacts your workflow in IronUp, read more about managing Assets here.
Storing Agreement Details
On the Other Details screen, you'll add the contract terms for this rental agreement. Note that these are required to unlock the assets insights and cost management features of IronUp.
Once you've added the Rate Multipliers, Invoice Frequency, and Total Cost from the quote, add the Supplier's Quote itself to the request. This is necessary for validation later in the rental management process.
When you've added all of these details, click the "Finish" button to complete the process.
Congratulations! You've added your first existing rental to IronUp!