Purchase Order Processing

rentalresult has been designed to deal with both normal purchasing and re-rent or sub-rental purchasing. The former follows traditional guidelines in terms of raising a purchase order, gaining approval, receiving goods and posting purchase invoices. The latter is designed to allow you to rent equipment from third parties and therefore post multiple invoices against the good receipt, and most importantly for the asset to always remain outside your financial asset register.

In order to improve the workflow of rental, sales and workshop functions we have also embedded the relevant purchasing options within the operational workflow. This means for example, that if you wish to back order parts from a workshop order, you can raise a “back to back” PO that is linked to your workshop job, or if you are in a rental contract you can link a re-rental purchase order directly to the contract that you are renting the equipment for.

Specialist Purchase order processing features include:

• Purchase order approval processes to control purchases by value.
• Ability to control types of equipment that can be ordered on different transactions.
• Complete re-rent or sub-rent process management from initial order to receipt and subsequent return to vendor.
• Returns to vendor management to control returns of sub-standard or unwanted equipment including automatic update of the asset register.
• 3 way matching process for all purchasing linking invoice value to PO price, and invoice quantity to goods receipt quantity.
• Automatic Asset Register updates based on receipts of goods, inventory and parts.
• Automatic Goods received not Invoiced accruals in the GL.
• Fully integrated back to back ordering in workshop, rental and sales orders.
• Ability to tie purchase orders to specific assets and control postings in the ledger.
• Ability to set up payment schedules against specific purchase orders to allow for payments to be made over time.
• Full audit control of all financial and operational activities.