With EZRentOut, you can track items that are rented out as well as items that are consumed/sold. There are 3 types of items in EZRentOut; Assets, Asset Stock and Inventory. With this post, you’ll be able to determine which of your items go under which type.
|Basic Distinction||Items that are rented out and are tracked individually, e.g. Forklift Trucks and Cars.||Items that are rented out but are not tracked individually, e.g. cables and chairs.||Items that are sold, e.g. water bottles.|
|What can you do with them?||Assets are rented out to folks. They return them back after use. Assets can also be tracked for maintenance and retired.||Quantities are rented out to folks. They return them back in after use. A quantity of Asset Stock can be retired when it’s no longer needed.||Quantities from stock is removed when you sell them. Quantities are added when you get new stock.|
|How are they tracked?||Assets are tracked individually e.g Limo #1, Limo #2 and so on. Each Asset would be added as an individual entry so you know exactly where each of them is.||Stock Assets are not tracked individually e.g. 100 foldable wedding chairs or 35 table sheets where individual tracking is unnecessary; you just want to keep track of how many are available and how many are rented out.||You maintain a stock quantity e.g. 800 water bottles in the warehouse, 100 in the store.|
|Quantity||No quantity is associated to assets since each asset is tracked individually.||You maintain a stock quantity across one or different locations.||You maintain a stock quantity across one or different locations.|
|Identification||Every single asset has a unique Asset # generated by EZRentOut. You can also choose to use your own serial numbers, if you like.||Every Asset Stock record has a unique Asset Stock #. You can also have your own serial number. If there are 100 LAN Cables, all of them will have the same ID.||Every Inventory record has a unique Inventory #. You can also have your own serial number. If there are 100 Water Bottles, all of them will have the same ID.|
|Rental or Sale Price||Rental pricing is set for assets individually (hourly, daily, weekly, monthly).||Same like Assets, rental pricing is set for Asset stock too.||No rental price required; inventory is either consumed or sold at sale price.|
|Special Views on Listing Tables (Toggle buttons on left of Actions dropdown)||Compact View combines assets with the same name to give an overview of how many of the similar items are available.||Checkouts View shows the current checkouts so that you can filter and take mass actions on them.||Stock View expands the list to show stock by locations e.g. if you have 800 water bottles in the warehouse, 100 in the store. the list will show 2 water bottle entries; one for Warehouse and other for the store.|
– Adding same items multiple times separately can take hours. You can use the clone feature from Item(s) Detail Page (e.g. Asset Detail Page -> Click ‘Clone’ button on the right). Add 1 Bluetooth GPS Receiver and clone it for 9 more to have 10 total Bluetooth GPS Receivers in Assets.
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