Purchases Tab

The Purchases Tab lists every purchase made for an item. 

It shows the date, vendor, Purchase Order number, quantity purchased, quantity sold, extra charges, and purchase price. Double-clicking on the date or price will reveal other information about the purchase, such as the serial number. If you click on the vendor's name, the vendor's record will be displayed.

From here, double-clicking on the purchase line will allow you to select ‘Modify Qty,’ adjust ‘price each,’ add any extra charges, or set an individual depreciation method toward the purchase line item.

• Note – When setting the depreciation method, you can set the number of years, salvage value, any additional depreciation, current months’ depreciation, the total depreciation accrued, and the book value.

Purchase - Allows you to make changes or update the (PO Number, Purchase Date, Qty Purchase, Qty Sold, Price Each, Extra Charges, and Serial Number).

Depreciation - You can set the Depreciation Method, Years, Salvage Value Each, Additional Depreciation Each, Current Month Depreciation, Total Depreciation Accrued and the book value).

Loan Information - This allows you to help keep track of financial costs.

Sales items will also have a field for recording a G/L asset account. This is purely an informational field for the user, as sales items cannot be depreciated in the system.

• Note – When adding an item to a PO, Point of Rental will default to the category sales inventory/equipment GL. If that account has not been used before, the program will add it to the list of PO GL accounts for future use. If there is a prior purchase for the item, the GL used on the previous purchase will automatically be used moving forward. The user can manually set the GL if the item has never been purchased before (or if you would like to change the GL). To learn more about this, see the article New Purchase Order.