Equipment Hire Contracts - Advanced

Introduction

The Advanced Equipment Hire Contracts Module builds on the core hire functionality to give you greater financial control and visibility across your equipment rentals. Alongside standard contract creation, invoicing, and on-hire tracking, the Advanced module strengthens how you manage the financial lifecycle of your hire assets.

With dedicated tools for cross hire management and asset depreciation, you can accurately track externally sourced equipment, maintain clear cost visibility, protect margins, and ensure asset values remain up to date. This enables more reliable reporting, improved audit confidence, and stronger commercial decision-making.

This guide will walk you through cross hire and depreciation capabilities, enabling you to strengthen financial oversight and maintain clearer control across your hire operations.

If you are looking for guidance on the standard version of Equipment Hire, you can access the guide here.

Cross Hire

The Cross Hire feature allows you to hire equipment from a supplier and then supply it to your customer through a standard Hire Contract.

This is useful when the required asset isn’t available in your own fleet, while still allowing you to track the equipment and maintain visibility of costs and margins.

Adding a Hire Supplier

Before creating Cross Hire Purchase Orders, the supplier must be marked as a Hire Supplier in the system.

Navigate to Settings > Library > Suppliers

To mark an existing supplier as a Hire Supplier, click the Supplier Name to open the record.
Click edit, tick the Is Hire Supplier checkbox and save.

Alternatively, if the supplier does not already exist in the system, click the Add Supplier button.
Enter the supplier details as required and tick the Is Hire Supplier checkbox before saving.

Creating a Hire PO

A Hire PO is used to request equipment from a Hire Supplier for a specific Hire Contract.

To create a Hire PO, navigate to Hire Contracts > All Hire Contracts

Open the relevant Hire Contract, then select the Hire PO tab at the top of the page.

Click Add Hire PO to begin.

Enter the Supplier and Delivery Address information.
Use the Show Hire Supplier Only checkbox to filter your list.

Additional fields can be completed if required but are not mandatory.

Add Hire PO Items

Once the Hire PO has been created, you can add the equipment that will be hired from the supplier.

Select the Hire PO Items tab and click Add Items.

Select the required equipment from the dropdown list and complete any additional fields as needed.

Entering the Hire Rate (Cost) and Markup will automatically calculate the Cross Hire Rate (Price).

Mark the Equipment as Delivered

Once the supplier delivers the equipment, the item must be marked as delivered within the Hire PO.

Click the 3 dots next to the item, and then select Deliver.

Confirm or amend the delivery details, then click Save.

Once an item is delivered, the system automatically creates a Cross Hired Asset, which can then be added to the Hire Contract.

Add a Cross Hired Asset to a Hire Contract

To add a Cross Hired Asset to a contract, navigate to Hire Contracts > All Hire Contracts

Open the relevant Hire Contract, then select the Hire Items tab.

Click Add Hire Items.

Tick the checkbox Show Cross Hire Assets Only to filter the list and display only assets that have been received through Cross Hire Purchase Orders.

Select the required Cross Hired Asset from the list and complete any additional details if required.

Click Save to add the asset to the Hire Contract.

Important Notes

• Only delivered items from a Hire PO will appear in the Cross Hire Asset list.
• Cross Hired Assets are linked to their supplier and Hire Purchase Order for full traceability.
• The Cross Hire Rate (Price) applied to the contract is based on the cost and markup defined when the item was added to the Hire PO.

Depreciation

Depreciation allows you to track the reduction in value of your tenant-owned hire assets (My Assets) over time.

Using the straight-line method, the system reduces the asset’s value evenly across its useful life and automatically updates the Book Value, helping maintain accurate asset records and reliable financial reporting.

How to enable Depreciation on a Hire Asset

Navigate to Hire Contracts > Hire Assets or Create Hire Asset

Within the asset record toggle the Depreciation button to enable the feature.

Complete the required depreciation fields.
Click Save once you are happy with the asset details.

Pause / Resume Depreciation

In some cases, you may need to temporarily stop depreciation on an asset. For example, if the asset is taken out of use, under review, or requires financial adjustment.

To do this, open the relevant asset within Hire Contracts > Hire Assets

Click Pause Depreciation in the top right.

Confirm the action.

Your asset is now paused and you can resume if required.

Important Notes

• Residual value must be less than the purchase price.
• If no residual value is entered, the system defaults to zero.
• If a depreciation rate is entered, this rate is used in calculations.
• If no depreciation rate is entered, the system calculates the rate automatically using useful life and residual value.
• If no depreciation fields are completed, the asset status will show as Not Started/Awaiting Start.

Further Support

For further information or assistance with the above, contact our Support Team on 0800 326 5561 or email support@joblogic.com. Alternatively, our Customer Success Management team can be reached by emailing customersuccess@joblogic.com

Publishing Details

This document was written and produced by Joblogic’s Technical Writing team and was last updated on the date specified above. Be aware that the information provided may be subject to change