Splitting pro forma invoices is an easy way for rental companies to streamline the accounts payable process for customers who operate multiple jobsites.
In the oil and gas industry, for instance, customers who move equipment across multiple well pads throughout the course of a month-long rental may require separate invoices for each jobsite. Some accounting systems only allow the rental company to charge for all these items on one invoice. The only workaround would be to manually recreate separate invoices for each project if the customer could not pay one consolidated bill.
Splitting up pro forma invoices, however, makes this process easier. Here’s how Jeff Loomis, InTempo’s Director of Business Development, explains it:
“Let’s say the original invoice has multiple units and bills $5,000 for the whole month. From there, I can break it apart. I can assign part of the invoice to Well Pad One, then change the job and the PO number and split it again to reflect separate days that it was at Well Pad Two and Well Pad Three.
With this functionality, the rental company doesn’t have to close the original contract and rewrite three separate ones for each jobsite. It’s a much faster and less manual option.”
Seemingly small distinctions such as this highlight the importance of using rental-specific accounting software – especially in niche industries such as the oil and gas industry. Trying to find “square peg / round hole” workarounds in generic accounting systems leads to a considerable amount of wasted time, where a purpose-built system lets accounting teams work in conjunction with the operations team and results in a more efficient process.
InTempo Enterprise is built by rental people, for rental people. Every feature – including pro forma invoice splits – solves a rental-specific challenge in a way a standard ERP simply can’t. It’s not just a better way to run your business today; it gives you the tools you need to scale it for long-term growth.
Interested in seeing it in action? Contact us today for more information or a custom demo.