Stock Ledger and Rentals - Partnership 2

Owned by Mary Volkmer (Unlicensed)
Jan 10, 2020
2 min read

Four lines have been added to the Stock Ledger to reflect inventory movement caused by rentals:  Rental Transfers and Rental Not Returned, and Rental Revenue and Rentals Not Returned Revenue.

A description of each line follows in the order in which they are listed in the stock ledger.

Rental Transfers

Store managed rentals

The Rental Transfers line appears just below Other Adjustments and is used to record the transfer of new stock to used stock when textbooks rented in new condition are returned by students.  When a new rental textbook is returned any time after the Return Expiration Date, it is no longer considered to be a new book but used.  To account for this, PrismCore automatically creates two stock adjustments that are reflected in this line:

  • New SOH is decreased by 1 for each copy returned
  • Used SOH is increased by 1 for each copy returned

In the NTX DCC the cost is decreased by the new textbook’s accounting cost and the new POS Retail.  In the UTX DCC the cost is increased by the used textbook’s accounting cost and the used POS Retail.  The difference between the new and used cost and retail is reflected in Variance.

The transferring of new to used stock when a new rental textbook is returned is referred to as the “rental transfer.”

There is also a Rental Transfer detail report available Stock Ledger Reports.  

Rental NR Adjustment

NBC Partnership 2 rentals, Store managed rentals

The Rental Not Returned line appears just below Rental Transfers.  It is used to record the loss of an item from inventory when it is not returned by the student.  This decrease in stock occurs when a rental is either charged to the student as not returned or closed as not returned.  As with all adjustments, the amount in the Cost column reflects accounting cost; the amount in the Retail column, current POS Retail at Item/Inventory Maintenance

There is also a report called Rental Not Returned available in the Stock Ledger Reports module (Ctrl-J 171) that provides SKU level information.

Rental Revenue

Store managed rentals

The rental revenue line shows below the expense totals.  Because the store still owns a store managed rental when it’s rented, stock on hand and the value of the inventory is not reduced when the item is rented. 

Rental Revenue shows the POS rental price collected at the register or in Mail Order and does not reflect Cost.  It is memo only.

Rental NR Revenue

NBC Partnership 2, Store managed rentals

The last line in the Expenses section of the Stock Ledger is Rental NR Revenue.  This line records the total replacement cost and fee charged customers when they fail to return rental textbooks.  It does not reflect what it costs the bookstore to replace the copies.

The Rental NR Revenue line is memo only and does not factor into the inventory value.