Missed Rental Transactions by Product

Counter Menu -> Counter Worksheet Details -> Product # window -> Missed Rental/Sale - By Product option -> Missed Rental Transactions by Product

A missed rental/sale occurs when a customer asks for a rental or sale item that is not available, or that your firm does not normally carry.
These missed rental/sales opportunities can be recorded, so management will be able to determine how often certain items are requested, and make a decision about purchasing that item in the future.

All missed rentals and sales can be printed out using Missed Rentals Report.

The prompts include:

TRANSACTION TYPE

Missed rental/sales transactions can be entered by specific product or more generally by the product Group.
If this utility has been triggered from the Counter Worksheet Details then the Transaction Type will already be defined and the radio group is disabled.
If this utility has been triggered from the Counter Menu tree then select the Transaction Type for the transaction.

Refer to the prompts below to capture the information for a missed rental/sale at the product level.
Refer to Missed Rental Transactions by Group to capture the information for a missed rental/sale at the Group level.

TRANSACTION#

Accept the system assigned transaction number.

DIVISION

Enter the division applicable or select one from the drop-down list.

Note: If the missed rental/sale is generated from the Counter Worksheet Details, it is this division that is used for the missed rental/sale transaction rather than the division assigned on the document.

PRODUCT NUMBER

Enter the product number which the customer requested, or a similar product #, or look it up in the window.

If the customer asked for an item that is not stocked and so is not in the product file, enter the product number if it is known or enter an * .
These products are reported in the output as not Stocked on the Missed Rental/Sales Report.

PRODUCT DESCRIPTION

Accept the product description as displayed, or over-type with the description of the equipment or item requested by the customer.

TRANSACTION TYPE

If the product number entered in this Missed Rentals/Sales transaction is a valid product number and exists in the product file, the appropriate Type is set, and cannot be changed.

If the product number does not exist in the product file, select one of:

• Rental
• Sale

DATE ENTERED

Accept today's date, or enter the date when the rental or sale opportunity was missed.

QUANTITY REQUESTED

Enter the quantity requested by the customer.

RENTAL DAYS MISSED

Enter the number of rental days that are being missed for the product rental.
This missed number of days times the daily Missed Rental Rate defined in the product's Group, is the Value of Lost Rental/Sale.
This can be over-typed as required.

VALUE OF LOST RENTAL/SALE

Accept the estimated dollar amount of the lost rental or lost sale or over-type it with a better estimate.

Missed Rental Rate * Rental Days Missed = Value of Lost Rental/Sale

Note: This value is calculated once per transaction and is not automatically recalculated if changes are made to the transaction.
A manual adjustment would then be required.

REASON CODE

Enter the Reason code for the missed rental/sale or select it from the drop-down list as setup in Missed Rental Codes.

ADDITIONAL DETAILS

Enter in any additional details describing why the rental or sale was lost.
Up to 40 characters may be entered.
This information prints on both the report and spreadsheet output generated from the Missed Rental/Sales Report.

CUSTOMER

Enter the Customer number associated with the missed rental/sale or select it from the Accounting Customer Search window.
This Customer number prints on the spreadsheet output generated from the Missed Rental/Sales Report.

Note: If the missed rental/sale is generated from the Counter Worksheet Details, it is this customer number that is used for the missed rental/sale transaction rather than the customer assigned on the document.

CONTACT

Accept the customer name displayed or over-type it with a preferred name.
This Contact prints on the spreadsheet output generated from the Missed Rental/Sales Report.

Note: If the Customer number is changed, then the Contact name may also need to be re-typed.

Finished?

Click ACCEPT to save the missed rental/sale record, or click CANCEL to abort.

ACTIONS:
Additional actions provided by buttons on the Missed Rentals screen include:

• Print Missed Rentals:
  Click the REPORT button to generate a report on missed sales and rental opportunities that have been logged, as outlined in Missed Rental/Sales Report.