How to Sell Equipment

Summary

This guide explains the process of selling an equipment unit in the system. It covers the steps for setting up an equipment unit, creating a purchase order (PO), entering an AP invoice for the equipment, and finally creating an Equipment Sales document. Additionally, key notes and system behaviors are highlighted to ensure proper understanding.

1. Setting Up the Equipment Unit

To set up an equipment unit in the system:

1. Navigate to the Equipment Program:

   • Go to General > Equipment Program.

   • Click on the "+ Equipment" button at the top right-hand corner of the screen.
     

2. Enter Equipment Details:

   • Input the following information on the Equipment Setup page:

     • Equipment Serial #

     • Unit #

     • Control #

     • Select the Branch and Department that the unit will belong to.
       

3. Key Note:

   • Ensure the "Customer Owned" checkbox is unchecked so the system recognizes this unit as an inventory item and not as customer-owned.

4. Generating a PO for the Equipment Unit (Optional):

   • To generate a PO, go to the PO Program.

   • On an open PO, go to the Equipment Tab and add the unit by entering:

     • Serial #

     • Description

     • Amount

     • Click "+ADD" to save the line item.
       

5. Receiving the Equipment Unit:

   • When the unit arrives, select the equipment line item on the PO and click "Recv" to mark the unit as received on the PO.
     

Notes:

• The PO serves as a reference only. Receiving the unit on the PO does not increase the Equipment Inventory account.

• The unit must be set up in the system first before it can be received on the PO.

2. Selling the Equipment Unit.

To sell an Equipment unit you would need to create and invoice an Equipment Sales document:

1. Navigate to the Invoicing Program:

   • Go to General > Invoicing Program.
     

2. Open an Equipment Sales Document:

   • On an open Equipment Sales document, go to the Equipment Tab.

   • Add the equipment unit you want to sell by entering:

     • Cost

     • Sell Rate

     • Click "+Add Equipment Entry" to add the unit.
       

3. Invoice the Document:

   • When ready, click the "Invoice" button located on the top left-hand side of the toolbar to invoice the document. 

Key Notes

• The Control # is critical for tracking and categorizing the equipment unit in all transactions.

• Ensure all accounts and departments are properly set up to avoid errors in inventory tracking and financial reporting.
  
  

  Post-Sale Equipment History and Financial View

  After the unit is sold and the document has been invoiced, the following updates occur on the Equipment Record:

  1. Ownership Update:

     • The Ship To Customer from the Equipment Sales document will now own the unit.

     • The Customer Owned checkbox will be automatically set to true.

     • The Customer # will be assigned to the Ship to Customer # from the sales Invoice.
       
       
       

  2. GL Cost Tab:

     • The GL Cost tab provides a concise view of transactions recorded in the Equipment Inventory Account associated with the department the unit is assigned to. These transactions are filtered by the unit's Control #

     • Example: In the GL Cost tab, the first line might show a positive $5,000 from the AP Invoice entry, while the second line may show a negative $5,000 when the equipment was sold on the Equipment Sales document.
       
       

  3. Detailed Financial View:

     • For a more detailed view of the unit's financials, click the History button on the top of the Equipment Record page.
       
       

       

       
       

     • This opens the Equipment Information page, where you can view details such as:

       • Unit Financial Info

       • Customer Charges

       • Internal Expenses

       • Internal Capital Expenses