How to edit the Carrying Cost of an Inventory Equipment Record
The Inventory Module must be purchased and licensed in order to perform these steps. Without the Inventory Module, users will not be able to look equipment records up while in Inventory or edit equipment records while in Inventory.
Q: Why would you potentially need to edit the carrying cost of an equipment record while it is in Inventory?
A: If the equipment record was refurbished, modified, or enhanced, this will allow the Finance Company to track the funds that were used to edit the equipment.
1. Access the Manage Inventory screen: Tasks > Actions > Manage Inventory
2. Perform a search to identify/find the equipment record that needs to be modified
3. Highlight the Equipment Record after the search has been completed, then the information for this specific equipment record will be displayed.
4. Select "Inventory Adjustment" for the Rewrite Type, populate the effective date for the modification, and select a Reason Code to document the reason for the modification.
5. Locate the "Carrying Cost/Basis" field, and update the value to reflect the cost of the modification.
6. Click the feather icon to post and finalize this modification.
7. ASPIRE will generate GL Entries to track this modification. Due to the refurbishment/modification/enhancement modification, the amount of the change ($2,000 in this example) will Credit the Accounts Payable and Debit the Equipment Off Lease, following the configuration defined in the Admin > Accounting > General Ledger > Interface > Inventory tab. This is suppose to credit the Accounts Payable to track the money that would be sent to fund the modification (ex: paying for new tires). Click OK.
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