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Rental management software should cover all aspects of a rental business in a systematic way including Financials (GL, AR and AP), Equipment Servicing, CRM and reporting functionality allowing rental businesses to achieve all their business analytics from within a single package. Rental management software that integrates with 'off-the-shelf ...
Furniture, fixtures, and equipment (or FF&E) (sometimes Furniture, furnishings, and equipment [1] [2]) is an accounting term used in valuing, selling, or liquidating a company or a building.
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels. "Short stay" rentals are an offshoot of the corporate housing market, [2] and are also offered by private owners and investors via online platforms such as Airbnb. [1]
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For example, if you rent an excavator from 1 January to 15 April, on a calendar monthly arrears billing cycle, you would expect to receive an invoice at the end of January, another at the end of February, another at the end of March and a final Off-rent invoice would be generated at the point when the asset is returned.
In accounting, a basis of accounting is a method used to define, recognise, and report financial transactions. [1] The two primary bases of accounting are the cash basis of accounting, or cash accounting, method and the accrual accounting method.
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For short term lettings - e.g. rooms in hotels or houses let for holidays, the "rack rent" is the maximum potential rent assuming full occupancy (less downtime for repairs). Historically, rack-rent has often been a term of protest used to denote an unjustly excessive rent (the word "rack" evoking the medieval torture device ), usually one paid ...
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