Overview #
Close a rental job after all expected assets and accessories have been returned or formally accounted for and the required rental close-out information has been completed.
Before closure, review the rental dates, asset returns, condition records, missing items, damage, inspections, linked work and related documentation.
Closing the rental preserves it as a completed historical record.
Important: Closing a rental job does not necessarily close its linked faults, inspections, corrective actions, work orders or commercial transactions. Review each related record separately.
Before you begin #
Before closing the rental job, confirm that:
- The rental has ended
- All expected assets have been returned or formally accounted for
- Actual return dates are recorded
- Components and accessories have been reconciled
- Return conditions have been documented
- Required inspections have been completed
- Damage and defects have been recorded
- Follow-up responsibility has been assigned
- Required documents are attached
- You have permission to close rental jobs
Do not close the rental merely because its planned return date has passed.
Open the returned rental #
- Sign in to AssetIQ.
- Open Rental Management or Rental Jobs.
- Find the returned or partially returned rental.
- Open the rental record.
- Confirm the job reference and recipient.
- Review the rental summary.
- Open the assets, returns, findings and related-records sections.
Confirm that you opened the correct rental job before completing the close-out review.
Check the rental status #
The rental should normally be in an appropriate status such as:
- Returned
- Awaiting Close-out
- Pending Review
- Ready for Completion
- Another configured pre-closure status
A rental should not normally be closed while its status remains:
- Draft
- Confirmed
- Ready for Dispatch
- Dispatched
- Active
- Partially Returned
- Overdue
If the status does not reflect the operational position, investigate before closing it.
Review the rental summary #
Confirm:
- Rental-job title and reference
- Customer, project or recipient
- Rental location
- Responsible coordinator
- Original planned dates
- Approved extension dates
- Actual dispatch dates
- Actual return dates
- Overall rental status
- Asset-level statuses
- Related commercial references
Planned and actual dates should remain distinct.
Do not change the planned dates to match the actual dates merely to make the rental appear on time.
Reconcile every asset #
Review every asset originally allocated or dispatched.
For each asset, confirm:
- Asset number
- Asset description
- Dispatch status
- Actual dispatch date
- Return status
- Actual return date
- Return location
- Condition
- Meter readings
- Included accessories
- Open findings
- Linked corrective work
- Current operational status
The rental should show what happened to every asset.
Review partial dispatches #
An asset allocated to the rental may never have been dispatched.
For each undispatched asset, confirm whether it was:
- Removed before dispatch
- Replaced by another asset
- No longer required
- Unavailable
- Left in a planned status accidentally
Record the correct outcome and release any remaining reservation before closing the rental.
Do not mark an undispatched asset as returned.
Confirm all dispatched assets were returned #
For each dispatched asset, confirm that it was:
- Physically returned
- Transferred through an authorised process
- Replaced and subsequently returned
- Formally reported missing or lost
- Disposed of through an authorised exceptional process
- Otherwise accounted for with approval
Do not remove an outstanding asset from the rental record to permit closure.
Reconcile components and accessories #
Check all controlled items recorded at dispatch, including:
- Attachments
- Lifting gear
- Batteries
- Chargers
- Remote controls
- Cables
- Keys
- Manuals
- Safety equipment
- Tools
- Spare parts
Confirm whether each item was:
- Returned
- Damaged
- Missing
- Returned separately
- Replaced
- Formally written off
- Transferred elsewhere through an authorised process
A returned main asset does not necessarily mean the rental is fully reconciled.
Review return dates and locations #
Confirm:
- The actual return date for each asset
- The actual return time where required
- The receiving location
- The returned-by party
- The receiving user
- Any staged or partial returns
Do not apply one return date to all assets if they arrived at different times.
Accurate dates support rental-duration, utilisation and overdue reporting.
Review meter readings and usage #
Where applicable, review:
- Dispatch meter reading
- Return meter reading
- Calculated usage
- Fuel or charge levels
- Supporting photographs
- Explanation of unusual readings
Investigate:
- Return readings lower than dispatch readings
- Unusually high usage
- Missing measurements
- Incorrect units
- Suspected meter replacement or reset
Correct data-entry mistakes through an authorised process and retain appropriate history.
Review asset condition #
Confirm that a return condition was recorded for every relevant asset.
Check:
- Condition rating
- Return inspection
- Existing damage
- New damage
- Excessive wear
- Cleanliness
- Faults
- Operational restrictions
- Photographs
- Inspector comments
A blank condition record should be investigated before closure.
Review return inspections #
Where a return inspection is required, confirm that it:
- Relates to the correct asset
- Uses the correct checklist
- Was completed by an authorised person
- Contains all mandatory responses
- Records identified defects
- Includes required evidence
- Has been submitted or approved
- Has an accurate result
A completed inspection may still contain failed items requiring follow-up.
For guidance, see Review and Approve Inspection Results.
Review damage and defects #
For each issue identified during or after the rental, confirm:
- The affected asset
- Description of the damage or defect
- Location on the asset
- Severity
- Supporting evidence
- Immediate action
- Operational restriction
- Responsible reviewer
- Required follow-up
- Current resolution status
Do not close or conceal a genuine defect to complete the rental.
Review missing assets and accessories #
If an item remains missing:
- Confirm that it was dispatched.
- Review the return and handover records.
- Check whether it was returned separately.
- Contact the responsible party.
- Record the investigation.
- Escalate through the appropriate loss or exception process.
- Confirm who owns the follow-up.
- Obtain required approval before closing the rental with the item outstanding.
Do not delete the item or record a false return.
Review linked faults and work orders #
A returned asset may have related records such as:
- Fault reports
- Inspection findings
- Corrective actions
- Work orders
- Repair requests
- Cleaning tasks
- Specialist assessments
- Follow-up inspections
For each linked record, confirm:
- It relates to the correct asset and finding
- Responsibility is assigned
- Priority is appropriate
- Due date is recorded
- Operational restrictions remain in place
- The record can be tracked after rental closure
A rental may be operationally complete even though corrective work remains open, depending on your organization’s policy.
If closure with open work is allowed, record that the work remains outstanding and confirm who will monitor it.
Confirm asset availability #
Review the post-return status of each asset.
An asset may be:
- Available
- Awaiting inspection
- Awaiting cleaning
- Awaiting maintenance
- Under repair
- Restricted
- Quarantined
- Awaiting components
- Not fit for use
Do not make an asset available merely to close the rental.
The rental status and asset operational status serve different purposes.
Confirm the asset location #
Check that each asset’s current location reflects where it was actually received or moved after return.
Where applicable, distinguish between:
- Permanent home location
- Current physical location
- Return location
- Maintenance location
- Next planned rental location
Do not overwrite the permanent location when the returned asset is temporarily at a workshop or receiving location.
Review commercial and administrative handoff #
Before closure, confirm whether rental information must be provided for:
- Customer invoicing
- Usage charges
- Extension charges
- Damage charges
- Missing-equipment charges
- Transport charges
- Purchase-order reconciliation
- Contract close-out
- Internal cost allocation
- Management reporting
Relevant information may include:
- Actual rental period
- Approved extensions
- Meter readings
- Returned quantities
- Damage records
- Missing items
- Delivery and collection references
Note: Closing the AssetIQ rental job may not automatically complete invoicing or update another finance or commercial system.
Review required documents #
Confirm that relevant documents are attached or referenced, such as:
- Rental request
- Quotation
- Purchase order
- Delivery order
- Dispatch record
- Handover acknowledgement
- Return receipt
- Inspection reports
- Damage photographs
- Repair records
- Customer correspondence
- Extension approval
- Exception approval
Only attach current and relevant information.
Add close-out comments #
Enter a clear summary of the rental outcome.
The close-out comment may include:
- Whether all assets returned
- Whether the rental was completed on time
- Extension details
- Damage or missing items
- Open work-order references
- Asset restrictions
- Commercial follow-up
- Authorized exceptions
Preferred comment #
“All three dispatched assets returned on 30 September. Generator GEN-006 failed its return inspection because of a damaged output socket. Work order WO-1086 is open, and the asset remains unavailable. All accessories were returned.”
Comment to avoid #
“Rental completed.”
The comment should allow another user to understand the outcome without reopening every related record.
Close with an authorized exception #
Your organization may allow closure when an item remains unresolved, such as:
- A missing accessory under formal investigation
- An open damage claim
- A linked repair continuing after rental return
- A document awaiting administrative completion
- An approved asset-loss process
- A commercial issue handled outside AssetIQ
Before closing with an exception:
- Confirm that closure is permitted.
- Record the unresolved matter.
- Identify the responsible person.
- Link the relevant follow-up record.
- Record the approval.
- Confirm that the issue remains visible after closure.
- Set a due date or monitoring process.
An exception should not be used to conceal incomplete returns or avoid required follow-up.
Complete the final review #
Before closing, verify:
- Every allocated asset has an outcome
- All dispatched assets are accounted for
- Components and accessories are reconciled
- Actual return dates and locations are correct
- Meter readings are complete
- Return conditions are documented
- Required inspections are complete
- Damage and defects are recorded
- Required work orders exist
- Asset availability is appropriate
- Documents are attached
- Commercial handoff is complete where required
- Close-out comments are clear
- Exceptions are authorized and traceable
Close the rental job #
When the job is ready:
- Open the rental summary or close-out section.
- Select Close Rental, Complete Job or the corresponding action.
- Enter final comments.
- Complete any required declaration or approval.
- Review the confirmation message.
- Confirm closure.
- Check that the rental status has changed.
- Confirm the completion date.
- Verify that linked records remain accessible.
- Confirm the rental appears in history.
Important: Closure may prevent further editing. Review all details carefully before confirming.
After closure #
After the rental is closed:
- The rental remains part of each asset’s history
- Returned assets retain their recorded conditions
- Linked inspections and work orders remain available
- Open corrective work continues through its own lifecycle
- Commercial follow-up may continue separately
- Authorized users may view or export the completed rental
Closing the rental does not certify that every returned asset is safe or ready for use.
Cancelled rental versus completed rental #
Use the appropriate outcome:
| Outcome | When to use it |
|---|---|
| Cancelled | The rental did not proceed and assets were not dispatched |
| Completed | The rental proceeded and its operational close-out is finished |
| Partially completed or exception closure | Use only if supported and authorized for unresolved items |
Do not cancel a rental after assets have been dispatched merely to avoid completing the return process.
Reopen a closed rental #
A closed rental should only be reopened through an authorized process.
Reopening may be required when:
- An asset was recorded against the wrong return
- An accessory is later found to be missing
- Damage is discovered after closure
- A return date is incorrect
- A required document was omitted
- The wrong rental was closed
- A valid correction is required
To request reopening:
- Identify the incorrect or missing information.
- Record the reason for the request.
- Contact the rental owner or AssetIQ administrator.
- Follow the authorized reopening process.
- Make only the required correction.
- Review affected asset and availability records.
- Complete the rental again.
- Preserve the correction history.
Do not alter a completed historical record without appropriate authority.
Common issues #
The Close Rental action is unavailable #
Confirm that:
- The rental is in the required status
- All dispatched assets have return outcomes
- Mandatory fields are complete
- Required inspections have been submitted
- You have closure permission
The rental remains Partially Returned #
Check for outstanding assets, accessories or incomplete return actions.
An asset is returned but still appears active #
Confirm that its return was saved and completed against the correct rental line.
A missing accessory prevents closure #
Record the item as outstanding and follow the approved exception or recovery process. Do not remove it from the dispatch record.
A work order remains open #
Determine whether your organization permits rental closure with linked work still active. Ensure responsibility and asset restrictions remain clear.
The asset became available despite unresolved damage #
Correct the asset’s operational or availability status through the authorized process before closure.
The rental was closed by mistake #
Contact the rental owner or AssetIQ administrator and request an authorized reopening.
Commercial processing is incomplete #
Follow the organization’s finance or administrative process. Do not assume that AssetIQ rental closure completes invoicing.
Recommended practices #
When closing rental jobs:
- Reconcile every allocated and dispatched asset
- Confirm actual return dates
- Review asset-level statuses
- Reconcile controlled accessories
- Review dispatch and return condition evidence
- Record damage and missing items
- Create required follow-up work
- Keep unsafe assets unavailable
- Preserve original planned dates
- Complete commercial handoff where required
- Use clear close-out comments
- Document authorized exceptions
- Verify all details before closure
- Reopen records only through an authorized process
- Keep the complete rental history traceable
Next steps #
After closing the rental:
- View and Export Rental History
- Monitor unresolved work orders
- Complete required repairs or inspections
- Confirm assets are ready before future allocation
- Complete any commercial or administrative follow-up
- Review recurring damage, delays or missing items
For related guidance, see:
