Physical Inventory for Rental Objects
The following sections describe the physical inventory process for rental objects in TRASER Rental 365. In this instance, the physical inventory process for the entire rental warehouse stock on a specific date, commonly known as the annual inventory, is being described. This documentation is divided into the following sections:
- Checking Owner Locations
- Creating a Physical Inventory Order
- Calculating Physical Inventory Order Lines
- Creating Physical Inventory Recordings
- Filling out Physical Inventory Recordings
- Completing the Physical Inventory Order
Checking Owner Locations
Note
This section is applicable only if you are working with owner locations. If you aren't using owner locations, you can skip this section since it doesn't apply to your application. For more information on setting up the use of owner locations, click here.
Before you can perform the physical inventory for rental objects, it is necessary to check the owner locations. It is important to ensure that all items are placed at their designated owner locations. To check the owner locations, please proceed as follows:
- Use the quick search (ALT+Q) to find the Owner Location Overview List page.
- Open the owner location you would like to check.
- Open the Lines FastTab.
- Check all lines. Lines marked in green and black are correct. Lines marked in red are incorrect and require correction.
- Check the values in the Quantity on Rental Location and Rental Location Code fields for all lines marked in red.
- Then, make the necessary adjustment by either updating the owner location or performing a warehouse transfer for the rental object to ensure it is assigned to the correct owner location.
- Perform the steps mentioned above for all lines that are marked in red across all owner locations.
Note
In the menu bar of the owner location overview list, you also have the option to click the Create and Post Movements action. With this function, you can transfer the rental objects to the correct owner location for all lines that are marked in red. However, please ensure that you carefully review all lines beforehand and use this function only in exceptional cases.
You have successfully checked all owner locations for errors. The following section explains how to create a physical inventory order.
Creating a Physical Inventory Order
To create a new physical inventory order, please proceed as follows:
- Use the quick search (ALT+Q) to find the page Physical Inventory Orders.
- Click New in the menu bar.
- An empty physical inventory order is displayed.
- In the General FastTab, fill out the following fields:
| Field | Description |
|---|---|
| No. | Enter the number for the inventory order. This field will be filled in by the system if you have previously filled in the fields in the Numbering FastTab in the Inventory Setup. |
| Description | Enter a specific description for the inventory order. A clear description is important for easy identification in the inventory order overview. |
| Location Code | Enter the rental location to which the inventory order should apply. |
| Person Responsible | Enter the person responsible for the inventory order. |
| Order Date | Enter the order date for the inventory order. The order date has a purely informal purpose. |
| Posting Date | Enter the posting date for the inventory order. The posting date determines the date on which the changes from the inventory countings are posted to accounting. |
| Shortcut Dimension 1 Code | Optional Enter the code for shortcut dimension 1 here. |
| Shortcut Dimension 2 Code | Optional Enter the code for shortcut dimension 2 here. |
- You can fill out more fields as needed.
You have successfully created a new inventory order. The next section describes how to calculate the physical inventory order lines.
Calculating Physical Inventory Order Lines
The following description assumes that you have already opened an inventory order. To calculate the inventory order lines of a physical inventory order, please proceed as follows:
- Click Prepare > Calculate > Calculate Lines... in the menu bar.
- Fill in the information in the Options FastTab as required.
- You can now set certain filters or adjust settings as needed in the Filter: Item FastTab.
- Check all information and click OK to calculate the inventory order lines.
- The inventory order lines are added to the Lines FastTab.
Tip
If needed, you can block and unblock bins in the inventory order. If you block a bin, no modifications can be made to items located in the blocked bin. This is crucial to ensure that the inventory order can be smoothly completed without being impacted by any changes in stock.
To block/unblock bins, please proceed as follows:
- In the menu bar of an open physical inventory order, click on Actions > Functions > Bin > Block Bins or Unblock Bins.
- In the Lines FastTab you can select the bins you would like to block or unblock.
- Click Yes to confirm your selection.
- You have blocked/unblocked bins.
You have successfully calculated the physical inventory order lines. The next section explains how to create physical inventory recordings.
Creating Physical Inventory Recordings
Important!
Physical inventory recordings must always be completed on the same day to ensure correct values.
The following description assumes that you have already opened an inventory order. After calculating the physical inventory lines for the physical inventory order, you can create the physical inventory recordings. Please proceed as follows:
- Click on Home >Make New Recording... in the menu bar of an open physical inventory order.
- You can enter the following information:
| Option | Description |
|---|---|
| Allow Recording without Order | Activate this toggle switch if employees should be allowed to count rental objects that are not listed on the physical inventory order. |
| Empty Recording | Activate this toggle switch if the inventory recording should be created with empty lines, allowing employees to count items independently and flexibly. This allows employees to count items independently and flexibly. Please make sure to deactivate this toggle switch for the physical inventory of service items. This is the only way to ensure that serial numbers are correctly transferred to the physical inventory lines. |
- If needed, you can apply certain filters or enter more details in the Filter: Phys. Invt. Order Header and Filter: Phys. Invt. Order Position FastTabs.
- Check all information and click OK to create the physical inventory recording.
You have successfully created inventory recordings. At least two recordings should always be created: one for the rental objects currently in use (identified by the rental location code Customer) and another for the selected rental location. If you use Owner Locations, other recordings for rental locations linked to the main location may also be created. The next section explains how to fill out physical inventory recordings.
Filling out Physical Inventory Recordings
Important!
Inventory recordings for rental objects currently in use (identified by the rental location code Customer) should already include the correct number of rental objects and can be completed without revision. It is not necessary to adjust the quantities of rental objects.
The following instructions presuppose that you have already opened an inventory order for which inventory recordings have been generated. To fill out the physical inventory recording, please proceed as follows:
- In the menu bar of the open inventory order, click on Related > Order > Recordings to open an overview of all inventory recordings for the inventory order. At least two recordings should be available: one for rental objects currently in use and one for the selected rental location. If you use Owner Locations, the recordings for rental locations linked to the main location may also be shown.
- Click on the order number of the recording for the main rental location.
- Adjust the information in the General FastTab as required. Some information have already been transferred from the physical inventory order and do not need to be adjusted.
- Then, select Print... in the menu bar to print the physical inventory recording report. The printed report can be used to carry out the manual counting at the rental location.
- Once the counting in the warehouse has been completed, you can enter the quantities into the inventory recording lines.
- Enter the counted quantity of the rental object in the Quantity column. The system then automatically activates the check box Recorded for the relevant lines.
- Once you have entered all quantities, click on Finish... to finish the inventory recording.
- The fields Qty. Recorded (Base) as well as No. of Recording Lines on the inventory order will be filled out with the values of the inventory recording.
The counting of rental objects is completed. The next section explains how to complete a physical inventory order.
Completing the Physical Inventory Order
The following description assumes that you have already opened an inventory order. Once you have completed all Inventory Recordings linked to an inventory order, you can complete the inventory order. To finish an inventory order, please proceed as follows:
Important!
Prior to completing the inventory order, it is crucial to carefully check the serial numbers associated with the service items. The serial numbers can be seen in the lines of the inventory order. Should you encounter a serial number during the inventory counting that isn't documented in the system, it is imperative to promptly identify the source of the error and rectify the serial number to prevent any inaccuracies in bookings.
- To update the Qty. Expected (Base) field, click on Actions > Functions > Calculate Qty. Expected in the menu bar of the open inventory order. Before completing the inventory order, it's important to take this step to ensure that any stock changes recorded in the system since the creation of the inventory order are accurately reflected in the lines.
- A new window is displayed. Select whether the action is to be carried out for all order lines or for order lines that have not yet been calculated.
- Click OK to confirm your selection.
- The Qty. Expected (Base) column will be updated. Furthermore, the Qty. Exp. Calculated check box will be activated.
- Then, select Finish... from the menu bar.
- A new window is displayed. Click on Yes to complete the inventory order.
- The columns Pos. Qty. (Base) as well as Neg. Qty. (Base) will be filled in by the system depending on the difference between the counted quantity and the expected quantity.
- To post the inventory order, select Post from the menu bar.
- A new window is displayed. Click on Yes to carry out the posting.
The physical inventory order is completed and any adjustments between positive and negative inventory quantities in the warehouse are posted. The physical inventory has been competed.