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Closing a Store Location
This document will go through the procedures of closing a store location. There are times when you may need to close a store location. It is important to know what to do with your inventory and accounts receivable.
You will need to transfer all items from the closing store to an existing store that will be the item's new home. This ensures all inventory is accounted for. All active contracts (quotes, reservations, open, and closed), Work Orders, and Internal Repairs from the closing store will need to be changed to the new store location. This in turn will move the accounts receivable to reflect the new location.
Topics in this article include
Transferring Bulk and Serialized Items
Bulk Items - Closing a store location with bulk items requires you to transfer the equipment from one store location to the other. When the transfer contract is closed, it will add bulk items to the closing store's inventory. For reporting purposes, the home location will need to be changed in the store that will be closing.
Serialized Items - Closing a store location with serialized items requires you to transfer equipment from one store location to the other. If the items are serialized, you can transfer the items as normal using a transfer contract. Since the serialized records share the same header record, the serialized numbers will fall in sequence.
Different ways to transfer inventory items
Depending on how much inventory you are transferring from one store location to another, there are a few different ways inventory can be transferred including through a transfer contract, item availability, and database management.
1. Transfer contracts
You can create a transfer contract by going to:
Expert: Program Menu > Counter System > New Contract > Transfer Contract
Elite: Transactions > New Contract > Transfer Contract
a. Select Transfer Contract.
b. Select the Store you want to transfer equipment to. For example, if Store 2 is closing you will want to transfer equipment to Store 1 from Store 2.
c. If you are transferring now, select Yes.
d. Add all of the items to the contract that need to be transferred.
e. Send out the transfer contract. Once the receiving store closes the transfer contract, the items will be added to their inventory.
2. Item availability
Using this method is unusual as it only allows you to transfer one item at a time.
a. You can transfer items from one store location to another by going to Item Availability and selecting the item.
b. Go to Inventory > Store Transfers > Transfer Now at the top of the screen.
3. Data transfer
You can purchase the Data Management module to export your inventory out of one store’s location, make any necessary corrections, and import into the other store's location. There is a monthly fee for this service. Once all inventory is removed from the closing store, please contact Point of Rental to address other areas that might need to be moved over (A/R, Trucks, etc.) before the location can be marked as inactive. Below are some examples on what you can do. Click here to contact us.
Changing Contract Location
If you need to change the location of a contract, you'll be able to do so within contract processing. On the contract in question, select Modify, enabling you to edit the contract. Then select Tools > Change Contract’s Store.
Trucks
Any trucks that you have associated with that store can move to a different store or change to all stores if applicable. Please take a look at our article on Delivery Trucks for more information.
Related articles
Transferring Inventory
Writing a Transfer Contract