External Branch Receipts

The utility can be used by the Branch receiving the transferred inventory, to record the inventory count received immediately updating Sales Inventory or Rental Inventory, and to create the journal transactions to be posted for the Inter-company Inventory Receipt which when Daily Close 3 is run.

If new products are being received and the product number does not exist in the receiving company, the product number needs to be setup in Sales Inventory or Rental Inventory or by using Clone Rental or Sales Products, before the transfer can be initiated.
When creating the new product use as much information as possible from the Print External Transfers, but do not enter the quantity, cost, or tag information, as the transfer will complete this information.

The prompts to receive a rental or sales product are:

FROM COMPANY

Enter the source company code which has transferred the inventory out, or look up the code in the drop-down list as setup in External Transfer Company Codes.
(The actual From Company Name is printed as the title of the Print External Transfers Report by Class.)

TRANSFER #

Enter the External Branch Transfer # from the Print External Transfers or Pick Ticket.

A window is provided in Delete mode to view and select from existing Transfer Receipt records.
This list can also be viewed from External Branch Receipts Inquiry.

PRODUCT #

Enter the product number from the Print External Transfers or search for it in the Inventory Search window.

Note: Once a product number is entered in the transfer, this product record becomes locked in Sales Inventory or Rental Inventory until the External Branch Receipts record is completed and the quantity count is updated.

Non-Bulk Rental Inventory Tag Verification:
Non-bulk Rental products with no Asset Tag can be received at the new Branch, but non-bulk Rental products with an existing Fixed Asset Tag at the new Branch can only be received if the check for the following critical data has passed.
This is enforced because if any of this critical information has been captured on the tag, it may be needed to complete inventory processes.

• Tag quantity is zero
• Tag has no additions
• Tag has no depreciation
• Bookvalue on the Tag is zero
• product is not in Bulk Disposals
• product is not in Disposals Transactions
• product has not been sold on an invoice
  • If the non-bulk rental product tag does not pass these critical checks, a TAG EXISTS error is thrown and the product cannot be received under this product and tag.
    A new product number can be created in Rental Inventory to be received against.

  • If the non-bulk rental product does pass these critical checks, the operator is prompted to CLEAR TAG?
    If the tag is cleared, it is deleted, an audit record is logged to the Delete Log for RSBR01, and a new tag is created to capture the new transferred product information.
    If the tag is not cleared, the transfer receipt is aborted.

SEQUENCE #

Seq 0001 displays for the first receipt of this product for this transfer.
Additional entries on the same product on the same transfer, use 0002, 0003 etc to track the transaction in the receipt table.

TRANSFER DATE

Enter the Post Date from the Print External Transfers in order to match the inventory transfer entries made by the FROM Branch.

Note: Do not use the date the report was printed, beside the time printed and page number.

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.

INTERCOMPANY ACCT

The inter-company inventory transfer account displays as defined in External Transfer Company Codes.

TO DIVISION

Enter the division receiving these goods or select it from the drop-down list.
This becomes the division for the GL Debit posting for the inventory received and also becomes the owning division on any Fixed Asset Tag created for a Rental product received.
Refer to Inventory Transfer to External Branch for more information on the GL resulting postings.

TO LOCATION

Enter the location receiving these goods or select it from the drop-down list.
This becomes the new location (RSIL) of the inventory.

TRANSFER QUANTITY

Enter the quantity on the Print External Transfers report.

TOTAL COST

Enter the total cost from the Print External Transfers report.

RENTAL INFORMATION window:

If the product is a Non-Bulk Rental Item, the rental history and repair costs from the FROM Branch will be printed on the Print External Transfers report.
Record this activity history so that the Monthly History totals can be updated correctly in the receiving company.

RENTAL REVENUE

Enter the total rental revenue earned for this product.

QUANTITY RENTED

Enter the total number of times this item was rented.

HOURS ON RENT

Enter the total numbers of hours rented.

REPAIR MATERIAL

Enter the total cost of repair materials.
For any additional details on the repairs, the FROM Branch can supply the detailed Repair Transactions Report for this item if required.

REPAIR LABOR

Enter the total cost of repair labor.

REPAIR OTHER

Enter the total cost of other repair costs.

ACCUMULATED DEPRECIATION

This field applies to receipt of non-bulk rental and bulk rentals, and updates the associated Fixed Asset Tag.
Enter the total accumulated depreciation.
A Credit will post to the Depreciation Acct defined below as of the transfer date to capture this amount in the G/L to agree with the inventory sub-ledger.

DATE ACQUIRED

This field applies to receipt of non-bulk rental and bulk rentals that allow multiple tags, where a new tag is being created.
Enter the Date Acquired to be saved on the new Fixed Asset Tag.

SERIAL #

This field applies to receipt of serialized sales products, and to receipt of non-bulk rental and bulk rentals for a quantity of one.

• When a single Rental item is received, enter the serial number to be saved on the Fixed Asset Tag.
• For Serialized Sales items, a window is provided to enter the required number of serial numbers to match the quantity being received, along with the Acquired date.

DEPRECIATION CLASS

This field applies to receipt of non-bulk rental and bulk rentals that allow multiple tags, where a new tag is being created.
Enter the depreciation class from the Print External Transfers report or select it from the drop-down list.

DEPRECIATION ACCT

This field applies to receipt of non-bulk rental and bulk rentals, and updates the associated Fixed Asset Tag.
Select the appropriate depreciation account for this rental item from the G/L Account Search window.
The Accumulated Depreciation amount entered above will be Credited in the G/L to agree with the inventory sub-ledger.

Note: This account does not change the regular Depreciation posting G/L account that is setup in the Depreciation Class.

ACCUMULATED # OF DEPRN

This field applies to receipt of non-bulk rental and bulk rentals that allow multiple tags, where a new tag is being created.
Enter the accumulated number of depreciation runs for this item from the Print External Transfers report.

YEAR TO DATE # OF DEPRN

This field applies to receipt of non-bulk rental and bulk rentals that allow multiple tags, where a new tag is being created.
Enter the Year to Date number of depreciation runs for this item from the Print External Transfers report.

YEAR TO DATE DEPRECIATION

This field applies to receipt of non-bulk rental and bulk rentals.
Enter the Year to Date depreciation dollar amount from the Print External Transfers report.

Finished?

Click ACCEPT to update the product quantity, and the receiving location referencing RSBR and the Transfer Receipt # in the View Inventory Quantity Changes table.
The serial numbers, and asset tag are also updated.
The transfer receipt transactions are created that will post in the "Rental Journal Transaction Report" when the next Daily Close 3 is run, include:

• Debit to the Rental Class 'Inventory account' for the Total Cost per the transfer.
• Credit to the GL account defined for the transfer 'From Company' in External Transfer Company Codes for the "undepreciated" value of the equipment being received. (Total Cost less Accumulated Depreciation)
• Credit to the Depreciation Account defined above for the Accumulated Depreciation dollar amount defined above on this transfer.

Click CANCEL to abort the receipt.

Accepted receipts can be viewed in the External Branch Receipts Inquiry.

ACTIONS:
Additional actions provided by buttons on the External Inventory Receipt screen include:

• Reverse and Delete an External Inventory Receipt:
  To reverse the transfer postings in the G/L and to remove the product quantity from the location, click the DELETE button to change the screen to "delete mode" then enter the Company Code and the Transfer number or select it from the Select Transfer window.
  Confirmation is required.

  Reversing journal transactions will be posted in the next Daily Close 3.