- ASSIGN PRODUCT NUMBER Window
- This window appears only when the Rental Product # Mask defined
in the Company Inventory Parameters,
requires the Group and/or Class to be part of the Rental product #,
as outlined in Assign Product
Number.
A new Product Class and/or new Group can also be added in this
process if they are required in the Product # Mask.
To manually assign a product number without using the Product
Mask click CANCEL to exit this Assign
Product Number window, and manually enter the product number in
the Product Number field.
PRODUCT NUMBER- Accept the default Rental product # displayed.
if a product mask has been used, as outlined in Assign Product Number.
The product number can always be manually entered if required up
to a maximum of 12 characters.
Because barcodes can also be used to identify or enter products
manually or via scanner on a document, the product number cannot be
the same as the barcode for any other product in the
system.
DESCRIPTION- Enter the product description of the item as it should appear
on printed invoices, using up to a maximum of 30 characters, or
accept the default Group description as displayed if the Group# was
used in the product Mask.
Note: The product description can always be over-typed on the
document.
- ADDITIONAL DESCRIPTIONS
- Additional product descriptions for product search and for
printing purposes can be set up in the window as follows:
- ALT LANGUAGE DESCRIPTION
- If your firm services customers who require that their
documents are printed in a different language such as French or
Spanish, the Alternate Language feature can be activated from the
Company Miscellaneous Parameters and
specific customers can be flagged to use the alternate language in
Customer Information.
This field can be used to set the alternate language description
for this product.
Note: The inventory search does not use the alternate language
description. This is just a printing feature for the reservations,
contracts and invoices.
ALTERNATE DESCRIPTIONS- This window can be used to manually setup multiple alternate
descriptions to be used in the product search utilities, as
outlined in Alternate Descriptions.
Finished?
Click OK to accept the descriptions and close the window.
VENDOR #- Enter the number of the primary supplier from whom the item was
purchased or from whom it will be re-ordered, or select it from the
window as outlined in Vendor Search.
Note: If the product is being added from Warehouse Receiving, the vendor number defaults
from the vendor on the P.O.
VENDOR PRODUCT #- Accept your product number as the default for the vendor's
product number, or type in the correct vendor's product number or
model number. Use up to 20 characters.
A flag in the Barcode Parameters settings of the Company Inventory Parameters can be set, causing a
barcode to automatically be generated matching the Product
Number and a second barcode to automatically be generated
matching the Vendor Product#, for any product newly added to
the inventory file.
VENDOR DESCRIPTION- Accept your product description as the default for the vendor's
description or type in the correct vendor's product
description.
PRODUCT CLASS- If the Class was used in the Product Mask as part of the
numbering convention, the class used is displayed and cannot be
changed.
If the Class was NOT used to determine the product number, enter
the Product Class, or select it from the Product Class Search window.
Note: When adding a new rental product on-the-fly, a new Class
can be added only if the operator has role permission to access the
Rental Product Classes.
PRODUCT GROUP- If the Group was used in the Product Mask as part of the
numbering convention, the group used is displayed and cannot be
changed.
If the Group was NOT used to determine the product number, enter
the Group, or select it from the Group
Search window.
Note: When adding a new rental product on-the-fly, a new Group
can be added only if the operator has role permission to access the
Groups.
AVG COST EACH- Enter the cost each which would have to be paid to replace the
item today.
Note: If the product is being added from Warehouse Receiving, the Average Cost Each
field is suppressed.
SERIAL NUMBER- This field only displays if the product is being added from
Warehouse Receiving, and can be used to
capture the serial number for the non-bulk rental product, that
will be saved on the Asset Tag.
Duplicate Serial Number Alert:
When a serial number is entered or updated on the Asset Tag
of a Rental Inventory record, the Duplicate Serial Numbers warning is triggered if the
serial number being assigned to the Tag matches the serial number
on an existing Asset Tag or matches a serial number on a Serialized
Sales Product.
This alert to the operator is helpful to prevent a new equipment
record from being created when it already exists or when a Transfer Sales to Rental should be processed
instead of creating a new product.
L.C.F.- This factor is used to include the exchange, brokerage, duty,
and freight, in the cost of an imported product.
The factor will be used to convert the cost on the invoice (during
Accounts Payable invoice entry) to the final purchase cost.
e.g. If the invoice unit cost of an item was $10.00 and the
L.C.F. was 1.2, then the final unit price including brokerage, duty
and freight would be $12.00.
This field is updated when inventory is purchased and either the
costs are entered in the A/P Invoice, or the costs are updated in
Warehouse Receiving.
Default Duty/Brokerage and Freight percentages can be setup for
individual suppliers in Vendor
Information.
The currency exchange rate is setup in Currency Codes.
The LCF formula is:
LCF = Round((Exchange * Duty/Brokerage * Freight),4)
e.g. Exchange 57.53%, Duty/Brokerage 2%, Freight 3%
LCF = (1.5753 x 1.02 x 1.03) Rounded to 4 decimal places
LCF = 1.6550
Note: If the product is being added from Warehouse Receiving, the L.C.F. field is
suppressed.
REPLACEMENT COST- This field only displays if the product is being added from
Warehouse Receiving, and can be used to
capture the replacement cost for the non-bulk rental product.
This defaults from the Unit Cost entered on the original
P.O.
LIST PRICE MATRIX- Check this box if pricing for this product should be allowed by
matrix price updates.
List Price Matrix Exceptions can be run to
identify products that do not utilize matrix price updates.
Uncheck this box if pricing of this product should never be
updated using the pricing matrix as setup in Update List Price Matrix.
MARKUP %- The markup percentage will default from the Product Class
selected for this item.
Accept this default, or type in the correct markup percentage.
e.g. Enter a markup of thirty percent as 30.00
Alternatively, use the Markup Based on
Margin Calculator window to calculate the Markup% from a
margin amount.
LIST PRICE- The List Price will calculate as the LAST PO COST * (1 + MARKUP
%).
Accept this selling price, or over-type with the correct price if
this equipment were to be sold. The List Price will display on the
screen when invoicing, but may be over typed as required.
Over-typing the List Price will not cause the markup % to
recalculate. Once the List Price is accepted, changing the markup %
will not automatically recalculate the List Price.
Note: To force the List Price to be recalculated based on the
current markup, first reset the List Price to zero. Then
reset the Markup% to the new percent value.
The Replacement Cost value will default from Groups.
ALTERNATE LIST- This is an information field only, that can be used to track an
alternate price.
e.g. List price in a different country.
BULK ITEM- Check this box if this is a bulk rental product with multiple
quantity.
Uncheck this box if this product number represents a single
rental item.
Note: If the product is being added from Warehouse Receiving, the Bulk Item field is
suppressed, as only non-bulk rentals can be added from receiving a
Group in the warehouse.
MULTIPLE TAGS- This field is disabled for Non-Bulk items, as only one tag is
required.
Uncheck this box if this is a Bulk item, but all quantities are
to be included on one Fixed Asset tag.
Check this box to allow multiple tags for the Bulk item.
If separate depreciation totals are required by Year of Purchase,
and this is a Bulk item use multiple tags to track the
information.
Note: If the product is being added from Warehouse Receiving, the Multiple Tags
field is suppressed, as non-bulk rentals are only allowed one
tag.
DEPRECIATION SETTINGS- This window is only provided if the product is being added from
Warehouse Receiving, and can be used to
capture the Depreciation Class and Alternate Depreciation
Class which default from the Group to
the new Asset Tag.
The Product Status code for the non-bulk rental product can
also be saved.
WARRANTY DEPOT- This field only displays if the product is being added from
Warehouse Receiving, and can be used to
capture the warranty depot for the Fixed Asset Tag.
KIT #- Leave this field blank if no Kit is associated with this
product, or enter a Kit#, or select it from the Kits Search window.
SUGGESTED SALES LIST #- Leave this field blank if no Sales List is associated with this
product, or enter a SSL#, or selected it from the Suggested Sales List Search window.
METER TYPE- Tracking meter units used or blade usage is only applicable to
NON-BULK items.
For a non-bulk item, select one of the following options:
- Select Metered Item to track meter units used such as
hours or km, through contracts, maintenance, product exchanges, and
rental returns for this item.
Overtime meter usage can be billed by the unit or by the shift.
Refer to Rental Product Classes for
further details.
For information on tracking Meter rollover or replacement on
equipment refer to Update Meter
Prompt/Hours.
The initial Meter setup window opens and prompts:
-
- METER DIGITS
- Enter the maximum number of digits that this meter can track
before the count must be reset.
INITIAL METER READING- Enter the initial meter reading for the new equipment.
- INITIAL METER DATE
- Enter the date of the initial meter reading.
CURRENT METER READING- Enter the correct current meter reading.
This will be updated as the equipment is rented, exchanged, put off
or on rent, and returned, when the new meter reading is
recorded.
- CURRENT METER DATE
- Accept today's date or enter the correct date for the current
meter reading.
This date will be maintained as the meter reading is updated.
LTD METER- This field tracks the total units used in the lifetime of the
equipment.
For a new product, this would be the difference between the
Initial Meter Reading and the Current Meter
Reading.
In Rental Inventory, a window is provided
in this field to view the meter tracking history.
Finished?- Click OK to accept the meter readings for the new
equipment.
-
Select Bladed Item to track blade usage such as diamond
blades where the units decrease with use.
The initial Product Blade Information setup window opens and
prompts:
-
- CURRENT METER READING
- Enter the current blade reading.
This will be updated when the equipment is rented, exchanged, put
off or on rent, or returned, and a new blade reading is
reported.
- CURRENT METER DATE
- This is the date of the latest recorded blade reading.
- INITIAL METER READING
- This is the original blade reading of the equipment.
- INITIAL METER DATE
- This is the date of the original blade reading.
Finished?- Click OK to accept the blade readings for the new
equipment.
-
Select Not Metered to skip the meter tracking for this
product.
Finished?- Click ACCEPT to accept the screen and create the new product
record, or click CANCEL to abort.
INVENTORY POSTING ID window- This window appears only for non-bulk rental equipment, if the
Posting by Inventory by Customer Type processing has been
activated in the Support Application
Parameters.
The Posting ID codes, to be assigned to all non-bulk rental
equipment, must first be setup in Posting
Identifications.
When non-bulk rental equipment is rented or sold, the current
Posting ID is updated in Rental Inventory.
This processing also facilitates the posting of revenue and
expenses for non-bulk rental equipment, to different revenue and
expense G/L accounts by product, according to the type of
customer.
The corresponding GL accounts and Customer Types can be setup in
Posting by Primary Customer Type.
The prompts to enter the product's Posting ID codes are:
-
- CURRENT POSTING ID
- Enter the Posting ID code to be assigned to this product as new
equipment or select one from the drop-down list as setup in
Posting Identification.
- RENTAL POSTING ID
- Enter the Posting ID code to be assigned to this product when
it is rented or select one from the drop-down list as setup in
Posting Identification.
- SALE POSTING ID
- Enter the Posting ID code to be assigned to this product when
it is sold or select one from the drop-down list as setup in
Posting Identification.
- Finished?
- Click OK to accept the Posting ID's.
ADDITIONAL PRODUCT INFORMATION submenu:- The additional information for adding new rental equipment
includes:
- PRODUCT LOCATIONS
- Skip this window if the quantity on hand is zero.
Window to setup the quantity on hand.
For each location, enter the quantity separately. The sum of all
the locations will be the Quantity on Hand in Rental Equipment.
The total quantity on the location records should equal the total
assigned to fixed asset tags. To check that they match, use
Verify Tag Qty = Location Qty after
loading all equipment.
Security and Audit Controls:
- This window is only active if the operator has role permission
as defined in the Security Role that is
assigned in Operators.
Note: Access to the inventory quantity fields is also available
from other menu options such as the Product
Quantity Adjustment or the Update On Hand
Quantity by Product# utilities, so additional password and
access security may be required on the other menu options.
- Only locations for which the operator has security
access as setup in Operators, can be
added.
- An Inventory Adjustment record is automatically written, noting
any operator who makes a change.
A record is also written to Review Location
Qty Changes.
- After any changes to product quantities are made directly to
the location count, use Post Inventory
Adjustments to print an audit report and to generate the
postings to balance the change in the Inventory value in the
G/L.
The prompts in the inventory location records include:
-
- LOCATION
- Enter in the Location (Branch or Division) where this rental
item is stored, or select it from the drop-down list.
Only locations for which the operator has security access as
setup in Operators, can be added.
If inventory is transferred from one location to another, report
this in the software. Use Inventory Transfer
Console to move the inventory and print the transfer
slips.
NAME- The location name displays.
ON HAND- Type in the quantity at this location only.
BIN #- This is shelf in your storage area, or the location in the yard
or warehouse, where this item is kept.
This appears on the Inventory Worksheet, which is used when taking
a physical inventory count.
It defaults to the location Name but can be over-typed to
be more specific as required.
INVENTORY ADJUSTMENT Window- This window is only triggered once if changes are made to the
quantity in the Locations window.
The information in this window tracks when and why inventory
quantity changes are made, as outlined in Inventory Adjustment.
Finished?- Click ACCEPT Key twice (once for the line and once for all
Locations).
QUANTITY DISCREPANCY- This window appears if product quantity has been entered and
the Fixed Asset Tag quantity does not match. The quantity
difference is displayed and the tags can be reviewed as outlined in
Fixed Asset Tags.
MAKE/MODEL AND RE-ORDER INFORMATION
- This window can be used to enter details about ordering the
product, as well as make, model, engine, specifics as outlined in
Make/Model and Re-Order Information.
The 'Make', 'Model' and 'Date of Manufacturing' fields are
optional for bulk rental products, but become mandatory for
non-bulk equipment if the Mandatory Make/Model/Manufacture
Date feature is activated in the Company
Inventory Parameters or if the SmartEquip feature is activated in the Software Integration.
FIXED ASSET TAGS
- Window to enter the asset information for the rental products
as outlined in Fixed Asset Tags.
Note: All rental items must have at least one fixed asset tag in
order for their value to be tracked.
The 'Serial Number' field on the Asset Tag becomes
mandatory for non-bulk equipment if the SmartEquip feature is activated in the Software Integration.
RENTAL INFORMATION
- This window can be used to enter additional product details
including a conversion factor, rental rates, and security deposit,
as outlined in Rental Information.
ALTERNATE DESCRIPTIONS
- This window can be used to enter additional product
descriptions that are used to search for the rental item in
contract entry, as outlined in Alternate
Descriptions.
SAFETY NOTES Window:
- Skip this window if the safety notes do not apply, or use this
window to define safety notes as outlined in Safety Notes.
Any existing safety notes for the product Group are also
included for the new product.
EQUIPMENT SPECIFICATIONS Window:
- Skip this window if the specifications do not apply, or use
this window to define specs for this product as outlined in
Equipment Specifications.
Any existing specifications for the product Group are also
included for the new product.
BARCODES
- Skip this window if your firm does not use barcodes on this
product, or use this window to setup barcodes for the product as
outlined in Barcodes.
LEASE PAYMENTS
- Skip this window if this product is not leased, or use this
window to setup the payment schedule.
Lease payments can be considered in the product costs, when running
Gross Margin Analysis Report.
The prompts to enter the amounts by date are:
- DATE
- Enter the date of the payment. If there are 12 payments, enter
12 different dates.
- AMOUNT
- Enter the amount of the payment for this date.
- Finished?
- Click ACCEPT to accept and close the lease schedule
window.
Finished?- Click OK to accept and exit the Add Rental Product
window.