Transfer Sale to Rental

This program transfers sales inventory to the rental fleet.
It could be used for example, if 20 Chainsaws are purchased for re-sale, but then there aren't enough chainsaws in the rental fleet, so one could be taken from the sales stock and used for rental.

• For Bulk Rental items with only one tag, an existing product number can be selected and the existing tag must always be selected for the transfer, or a new product with one tag can be added.
• For Bulk Rental items with multiple tags a new fixed asset tag should be used to track the acquisition date and tag information on an existing or new product.
  • In Divisional Inventory Parameters there is an optional parameter that can be set to disable merging Fixed Asset Tags for Bulk items with multiple tags, and forces a new tag to be generated.
  • If this option has not been activated, and the new tag is created in advance do not fill in the quantity or costs on the new fixed asset tag as this will be captured by the transfer.
• To transfer to a Non-bulk product number, the quantity, cost, and fixed asset information, should not be filled in on the fixed asset tag in advance, as this will be captured by the transfer.

Clone Rental or Sales Products can also be used to create the new product with a tag if a similar item already exists, but do not add quantities or the fixed asset information with the clone program, as this will be captured by the transfer.

When the transfer is completed, the software will automatically create a sale to rental inventory journal entry, which will appear on the Rental Journal when Daily Close 3 is run.
The inventory transfer entry looks like this:

        Sales Inventory is  CREDITED Acct# 1240 with the total cost.
        Rental Inventory is DEBITED  Acct# 1300 with the total cost.

        The journal entry shows:
                   Source    = Transfer #
                   Reference = XFER SALE TO RENTAL
                   Details   = FR "product#"  TO  "product#"

TRANSFER TRX#

Accept the next assigned transfer number.

FROM SALES PRODUCT #

Type in the sales product number, from which the product is being transferred to rental inventory, or select it from the Inventory Search window.

FROM LOCATION

Enter a location, or select it from the drop-down list that also displays the quantities available on the different locations.
The inventory will be transferred from this location.

Inventory can only be transferred from locations to which the operator has security access, as setup in Operators.

TO RENTAL PRODUCT #

Enter the rental product number, which will receive the transfer select it from the Inventory Search window.
The Rental item description and/or Alternate language description will only be changed if previously blank.

Add New Product Number:
If the operator has role permission to add new rental products, a window is provided on the Description field in the Inventory Search window to add a new rental product number, as explained in Add Rental Products.
The corresponding Fixed Asset Tag is created to capture the transfer information regardless of the Add Asset Tag In Warehouse setting in the Company Inventory Parameters.

The ability to transfer to a new rental product adding it to the fleet can be controlled by the Add Rental Inventory flag set in the operator's Security Role Permission.

Note: To prevent blank dates in transactions posted to the GLGL the 'Sale to Rental Transfers' and the 'Rental to Sale Transfers' utilities will report an error by email to development@texadasoftware.com when a blank GL transaction is encountered while creating entries.

TAG NUMBER

Select a tag number from the window, as outlined in Asset Tag Search.

If the Rental product is a Bulk product that allows multiple tags, and the divisional flag to Disable Merging Asset Tags is set in the Divisional Inventory Parameters a new Tag can be created as outlined in Set New Asset Tag Values.

TO LOCATION

Enter the location which will receive this transfer, or select a location from the drop-down list.
If a new tag has just been added, the location will default from the owning location entered on the tag. This may be over-typed if required.

QUANTITY

Enter the quantity to be transferred.
When transferring serialized sales items, the transfers must be entered 1 at a time.
When transferring to a Non-Bulk item, the transfers must be entered 1 at a time.

Note: Product Availability checking is not performed when creating a Rental to Sale transfer.

SERIAL #

Tag Serial Number:
If the Fixed Asset Tag for the rental equipment has been entered, the serial number from the tag is displayed.

Transfer from Serialized Sales Part:
If the sales item is a serialized item, select a serial number from the Select Serial Number window.
In the serial number window of Sales Inventory, the Sales product will display the transfer transaction number preceded by XFR, and the transfer date displays in the Date Sold column.
The Serial # can be omitted at this time, if the serialized item is flagged to enter serial numbers at Time of Sale.

No Default:
If no serial number defaults, type in a serial number if applicable.
This will be recorded on the fixed asset tag of the new rental product.

Note: If SmartEquip is activated in the Software Integration the serial number on the Fixed Asset Tag becomes mandatory for non-bulk rental equipment.

DEPRECIATION CLASS

Enter the Depreciation Class or select one from the drop-down list.
This class is updated on the existing selected Fixed Asset Tag.

COST EACH

The cost each will display.
The cost each is multiplied by the quantity to equal the total cost. The total cost is used, when creating the journal entry and updating the inventory file.

TRANSFER POSTING DATE

This is the date used for the journal entry, and for the date acquired on the fixed asset tag.

Date Range Control:
If the operator does not have the ability to over-ride the current date range, the transfer date will be checked to make sure the date is valid against the date ranges set as acceptable for module RSPM in Date Range Control.

EMPLOYEE

The current Operator code will display. This can be over-typed as required to identify the staff responsible for this transfer.

Finished?

Click ACCEPT to proceed or CANCEL to abort.

WEIGHT window

If the Sales part carries a weight value in the Re-Order Information window in Sales Inventory, the weight is transferred to also become the new Rental product weight.
The total shipment weight prints on the packing slips.

If the Sales part carries a weight value in the Re-Order Information window in Sales Inventory but the Rental Inventory already has a weight, then the window to update the weight displays showing the existing Sales part weight and existing Rental product weight.

• Click ACCEPT to change the Rental weight in the Make/Model Window, to match the transferred Sales part weight.
• Click CANCEL to leave the Rental product weight unchanged.

Finished?

When accepted, the inventory record is updated and the sale to rental inventory transfer journal entry is generated to be posted next time Daily Close 3 is run.

ACTIONS:
Additional actions provided by buttons on the Transfer Sale to Rental screen can be processed for a specific record or generally as follows:

• Generate a Sale to Rental Transfer Report:
  Click the HISTORY button at the bottom left of the screen the generate a transfer report as outlined in List Sale to Rental Transfers.